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HomeCrude Oil

Crude Oil

News

Most petroleum consumed in transportation in the US

August 2, 2019 Energi Staff

By Andrew York-Thomson This article was published by the US Energy Information Administration on Aug. 2, 2019. Petroleum, which consists of crude oil and refined products such as gasoline, diesel, and propane, is the largest [Read more]

US oil producers
News

2018 likely most profitable year for US oil producers since 2013

May 13, 2019 Energi Staff

By Jeff Barron This article was published by the United States Energy Information Administration on May 10, 2019. Net income for 43 US oil producers totalled $28 billion in 2018, a five-year high. Based on [Read more]

Markham on Energy

Experts praise Rachel Notley for handling of energy policy, issues management

December 7, 2018 Markham Hislop

“…in Alberta we believe that markets are the best way to set prices.” – Rachel Notley, December 2 A week in and  the consensus seems to be that Rachel Notley made the right decision to [Read more]

Markham on Energy

The Alberta oil price crisis: royalty credit for voluntary production curtailment may be Notley’s best option

November 26, 2018 Markham Hislop

Source: Scotiabank – Shut In? Assessing the Merits of Government Supply Intervention in the Alberta Oil Industry Royalty credit for production curtailment provides middle ground for industry players To curtail or not to curtail: that is the [Read more] [Read more]

Markham on Energy

Rising oil production with fewer workers: Albertans can learn from Texas example

August 1, 2018 Markham Hislop

Technology tranforming oilfield: fracking, horizontal drilling, multiple wells from single pad on production side, digital tech on business side Texas oil production is booming like never before, especially in the prolific Permian Basin, but just like [Read more]

proved reserves
News

Global proved oil reserves in 2017: US adds just under 50%, Canada adds less than 6%

June 25, 2018 Energi Staff 2

US added just under 50% of new reserves, Canada added less than 6% In 2017, a group of the world’s largest publicly traded oil and natural gas producers added more hydrocarbons to their resource base [Read more]

brent
News

EIA expects Brent crude oil prices to average $71 in 2018, $68 in 2019

June 15, 2018 Energi Staff 2

EIA expects OPEC crude oil production will average 32.0 million b/d in 2018, a decrease of about 0.4 million b/d from  2017 In the June 2018 update of its Short-Term Energy Outlook (STEO), EIA forecasts Brent crude [Read more]

rail
Canada

Canadian crude oil exports by rail reach a 3-year high – NEB

June 15, 2018 Energi Staff 2

Refineries in US East Coast have minimal pipeline access so bring in Western Canadian crude oil by rail In March of 2018, Canadian oil volumes exported by rail reached a 3-year high of over 170,000 [Read more]

USA

Developing Alaska’s wildlife refuge would increase US crude oil production after 2030

June 15, 2018 Energi Staff 2

Almost 80% of oil produced in Alaska in 2017 was refined in Washington and California In Dec. 2017, the passage of Public Law 115-97 required the U.S. Secretary of the Interior to establish and administer a competitive [Read more]

Markham on Energy

Another hyped-up study predicts ‘mass electrification’ of transport, imminent collapse of global oil demand

May 25, 2018 Markham Hislop

Source: Bloomberg New Energy Finance. Note: Battery-electric and plug-in hybrid light duty vehicles Rapid technology change forecasts vs. more cautious predictions based upon energy transition history If you happen to come across a Big Oil [Read more]

energy importer
USA

The United States is a net energy importer from Canada

May 23, 2018 Energi Staff 2

Significant volumes of gasoline flow from refineries in Eastern Canada to serve markets in Northeast US Canada is the largest energy trading partner of the United States, based on the combined value of energy exports [Read more]

benchmark
Alberta

What is the difference between Canadian and US benchmark crude oil?

May 16, 2018 Energi Staff 2

Between Jan. and April 2018 the differential between WTI and WCS has averaged US$22.50 Crude oil produced in Canada varies widely in quality and grade. Crude oil can be characterized as light, medium, or heavy, [Read more]

gulf coast
USA

US Gulf Coast port limitations impose additional costs on rising American crude oil exports

May 16, 2018 Energi Staff 2

Inability to fully load larger and more cost-effective vessels has pricing implications for US crude oil exports U.S. crude oil exports averaged 1.1 million barrels per day (b/d) in 2017 and 1.6 million b/d so [Read more]

EIA
USA

EIA raises crude oil, US gasoline price forecasts for 2018

May 10, 2018 Energi Staff 2

Greater GDP growth has potential to increase oil consumption beyond forecasted levels, putting upward pressure on crude oil prices EIA’s May Short-Term Energy Outlook (STEO) forecasts that Brent crude oil prices will average $71 per barrel (b) [Read more]

canadian crude
Canada

US imports of Canadian crude oil by rail increase, set record of 203,000 b/d in Dec.

May 2, 2018 Energi Staff 2

Of the 132,000 b/d of Canadian crude oil imported by rail in 2017, over half went to U.S. Gulf Growth in Canadian crude oil production has outpaced expansions in pipeline takeaway capacity and, along with past [Read more]

crude oil production
USA

US crude oil production efficiency continues to improve

May 1, 2018 Energi Staff 2

As rig counts recover from decreases during 2015 and 2016, producers have increasingly targeted Permian Basin in West Texas US tight crude oil production increased in 2017, accounting for 54% of total U.S. crude oil [Read more]

oil production
USA

US Gulf of Mexico crude oil production to continue at record highs through 2019

April 11, 2018 Energi Staff 2

Declining profit margins, reduced expectations for quick price recovery prompted many GOM operators to reduce deepwater exploration spending in 2015, 2016 U.S. crude oil production in the Federal Gulf of Mexico (GOM) increased slightly in [Read more]

USA

US crude oil production growth will be led by light, sweet crude oil

April 9, 2018 Energi Staff 2

Permian Basin spans 53 million acres across western Texas and southeastern New Mexico Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 [Read more]

markets
USA

US production of crude oil grew 5% in 2017, likely leading to record 2018 production

April 4, 2018 Energi Staff 2

Production levels in Colorado, Oklahoma, North Dakota each grew by more than 30,000 b/d from 2016 to 2017 Annual average U.S. crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase [Read more]

oil sands
Markham on Energy

A counter-intuitive Canadian climate strategy: Grow Alberta oil sands production by 400%

March 30, 2018 Markham Hislop

Push carbon-intense heavy crude oil from Venezuela, Mexico, Colombia, etc out of global market with de-carbonized Alberta oil sands crude My understanding of the Paris climate agreement: humankind agreed to de-carbonize the existing energy system [Read more]

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In the Spotlight

Smith’s panel on Alberta’s energy future is a bad joke

by Markham Hislop in Markham on Energy

“A new advisory panel will develop a long-term vision for Alberta’s energy future and recommend steps the province should take to ensure the industry [emphasis added] continues to thrive for decades to come.” Premier Danielle [Read more]

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