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Injection In-Line with Expectations, Prices Stagnant

Natural gas storage inventories increased by 46 Bcf for the week ending August 3, according to the EIA’s weekly report. This injection is roughly in-line with market expectations, which were an injection of 48 Bcf. The September 2018 contract was trading at $2.95 before the EIA report, similar to yesterday’s close of $2.95. Since then, prices are slightly down, with the September 2018 contract trading at $2.945 at the time

Prices Are Down Despite Crude Withdrawal

US crude oil stocks decreased 1.4 MMBbl last week. Gasoline and distillate inventories increased 2.9 MMBbl and 1.2 MMBbl, respectively. Yesterday afternoon, API reported a crude oil draw of 6.0 MMBbl, while reporting gasoline and distillate builds of 3.1 MMBbl and 1.80 MMBbl, respectively. Analysts were expecting a smaller crude oil draw of 3.33 MMBbl. The most important number to keep an eye on, total petroleum inventory levels, posted a

The Week Ahead for Crude Oil, Gas and NGLs Markets – Aug. 6, 2018

CRUDE OIL US crude oil inventories increased by 3.8 MMBbl, according to the weekly EIA report. Gasoline inventories decreased by 2.5 MMBbl, and distillates inventories increased 3.0 MMBbl/d. Total petroleum inventories showed a significant build of 10.6 MMBbl. US crude oil production was down 100 MBbl/d on the week, and crude oil imports were up 21 MBbl/d to an average of 7.7 MMBbl/d versus the week prior. The ebbs and

Polish CMB – Something to watCH4?

div.et_post_meta_wrapper > img {display: none;} Poland is amongst the fastest growing European economies, with an educated population, EU membership, and a strong industrial base. But its domestic hydrocarbon supplies are nowhere near adequate for its needs – gas production of around 220 Bcfg per annum meets about a third of requirements, whilst 15 MMbo per annum provides just 7% of the typical oil demand. Poland currently imports around 60% of

Prices Continue Losses After Inventory Builds

US crude oil stocks increased 3.8 MMBbl last week. Gasoline inventories declined 2.5 MMBbl while distillate inventories increased 3.0 MMBbl. Yesterday afternoon, API reported a crude oil build of 5.59 MMBbl, alongside a gasoline draw of 0.79 MMBbl and distillate build of 2.89 MMBbl. Analysts to the contrary, were expecting a crude oil draw of 2.79 MMBbl. The most important number to keep an eye on, total petroleum inventory levels,

Predicting Water Saturation: Applying Machine Learning to Extend Petrophysical Models

Water saturation can make or break a play, but each petrophysical model may take your team hours or days to get right. How do you quickly get hundreds of control points to map water saturation across a basin with varying temperature, clay volume, and salinity? Machine learning provides the toolkit needed Neural networks are machine learning models that were inspired by the structure of our brains, improving with more data,

Offshore Oil and Gas Exploration Ban Part of New Zealand’s ‘Carbon-Neutral Future’

New Zealand’s decision to ban future offshore oil and gas exploration has generated plenty of consternation for not only the energy industry, but the residents of New Zealand as the opposition party condemned the decision as “economic vandalism”. The future of oil and gas production in New Zealand since the government’s announcement has seen both sides of the coin, with industry commentators noting continued activity in the industry with planned

Storage Injection Small, But In-Line With Expectations

Natural gas storage inventories increased by 24 Bcf for the week ending July 20, according to the EIA’s weekly report. This injection is close to market expectations, which were an injection of 25 Bcf. The August 2018 contract was trading at $2.771 before the EIA report, in-line with yesterday’s close of $2.775. Since then, prices are trading slightly higher, with the August 2018 contract trading at $2.791 at the time

Crude Oil Withdrawal Push Prices Higher

US crude oil stocks decreased 6.1 MMBbl last week. Gasoline and distillate inventories decreased 2.3 MMBbl and 0.1 MMBbl, respectively. Yesterday afternoon, API reported a crude oil draw of 3.16 MMBbl, alongside a gasoline and distillate draws of 4.87 MMBbl and 1.32 MMBbl, respectively. Analysts, were expecting a crude oil draw of 2.3 MMBbl. The most important number to keep an eye on, total petroleum inventory levels, posted a sizable

The Week Ahead For Crude Oil, Gas and NGLs Markets – 7/23/2018

CRUDE OIL US crude oil inventories increased by 5.8 MMBbl, according to the weekly EIA report. Gasoline inventories decreased by 3.2 MMBbl, and distillates decreased 0.4 MMBbl. Total petroleum inventories showed a sizeable increase of 6.0 MMBbl. US production (according to the EIA estimate) was up 100 MBbl/d on the week, hitting 11.0 MMBbl/d for a new record. Crude oil imports were up 1.64 MMBbl/d to an average of 9.1