Link

Saudi Arabia crude oil production outage affects global crude oil and gasoline prices


  • Although U.S. imports of crude oil from Saudi Arabia have declined during the past three years—and recently hit a four-week average record low of 380,000 b/d in the week ending September 6—the United States still imports about 7 million b/d of crude oil.
  • Saudi Arabia can use these inventories to maintain a similar level of crude oil exports as before the attack, assuming the production outage doesn't last long, which Saudi Aramco indicated in its update on September 17.
  • Weekly EIA data for September 13 indicate total U.S. commercial inventories were equivalent to 24 days of current U.S. refinery crude oil inputs.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit original link

https://nrgedge.net/article/1569306250-saudi-arabi...

pricesInternationalGasolineoutagesSaudi ArabiaLiquid FuelsCrude oilOilpetroleum

More items from huishan


A Brief Insight: Guyana, Suriname And French Guiana

As Saudi Arabia and Russia dig in their heels and prepare for extended trench warfare over oil prices, the important questions now are: how long will this last, and what (or who) can bring these friends-turned-foes back to the negotiation table? Saudi Arabia's ultimate goal is to have steady oil ...

Hui Shan


Posted 3 days agoLink > GOMGulf Of MexicoOil Blocks +7

Your Weekly Update: 30 March - 3 April 2020

As Saudi Arabia and Russia dig in their heels and prepare for extended trench warfare over oil prices, the important questions now are: how long will this last, and what (or who) can bring these friends-turned-foes back to the negotiation table? Saudi Arabia's ultimate goal is to have steady oil ...

Hui Shan


Posted 3 days agoLink > Oiloil and gas newsOil and Gas Industry +7

Your Weekly Update: 23 - 27 March 2020

With falling demand and increasing supply, the front-month price of the U.S. benchmark crude oil West Texas Intermediate (WTI) fell from a year-to-date high closing price of $63.27 per barrel (b) on January 6 to a year-to-date low of $20.37/b on March 18 (Figure 1), the lowest nominal crude oil pr ...

Hui Shan


Posted 13 days agoLink > Oiloil and gas newsOil and Gas Industry +7

This Week in Petroleum: Oil market volatility is at an all-time high

With falling demand and increasing supply, the front-month price of the U.S. benchmark crude oil West Texas Intermediate (WTI) fell from a year-to-date high closing price of $63.27 per barrel (b) on January 6 to a year-to-date low of $20.37/b on March 18 (Figure 1), the lowest nominal crude oil pr ...

Hui Shan


Posted 14 days agoLink

Potential Outcome Scenarios for Covid-19 And Oil Markets

There are two items dominating the headlines in the energy sector at the moment: the global Covid-19 pandemic and the alarming decision of Saudi Arabia and Russia to go head-to-head in a price war. Scenario 2: Fast Covid-19 containment but slow resolution to the price war or Prolonged Covid-19 pa ...

Hui Shan


Posted 20 days agoLink > Covid19ChinaItaly +8
All posts from huishan