Login   |   Register   |  Contact Us

More US Crude to Come

Oct. 17, 2018

The latest US Energy Information Administration (EIA) official monthly shows the continued strength in US crude production with July up to 10.96 million b/d, a gain of roughly 270,000 b/d month-on-month.  This also marked one of the higher months for crude exports with 2.1 million b/d observed in July, compared to 2.2 million b/d in June.  Since this period, volumes have declined considerably amid a narrowing of the Brent-WTI crude differential, which averaged just US $3.27/bbl over July compared to US $6.85/bbl in the prior month.  The lower ...

   LinkedIn Twitter E-mail

The Return of Brazilian Demand

Oct. 10, 2018

The Brazilian economy is on track to expand by 1.8% this year, a downward revision from the International Monetary Fund’s (IMF) initial expectation of 2.3% in January.  This downward revision is due to lower than expected consumption, exacerbated by fuel strikes observed across the country, placing a halt on the transportation of goods.  As a result, refined product demand found pressure in May, particularly for gasoline and diesel with the former finding additional weakness in a preference for ethanol consumption due to higher fuel pricing.  We are beginning to see demand pick up yet again; however, a ...

   LinkedIn Twitter E-mail