What’s Affecting Oil Prices This Week? (Nov. 9, 2020)
An extra bucket of cold water—the Convent refinery shutdown in Louisiana by Shell is more meaningful than it seems, Stratas Advisors says in its latest oil price forecast.
Shell to Shut Down Louisiana Refinery amid Coronavirus Pandemic
Shell said on Nov. 5 it will shut down its refinery in Convent, La., the largest U.S. facility to close since the coronavirus pandemic first hit and devastated economic demand worldwide.
What’s Affecting Oil Prices This Week? (Nov. 2, 2020)
A vote of confidence—three different oil markets are behind crude price volatility, Stratas Advisors says in its latest oil price forecast.
What’s Affecting Oil Prices This Week? (Oct. 19, 2020)
Global oil participants saw contradicting messages last week from OPEC and Russia with regards to their approach for rebalancing markets, reminiscent of what happened in early March, Stratas Advisors says in its latest oil price forecast.
What’s Affecting Oil Prices This Week? (Oct. 12, 2020)
Die another day—oil markets misunderstood OPEC’s recent outlook for oil demand to plateau in late 2030s, Stratas Advisors says in its latest oil price forecast.
Shell Says Appalachia Ethane Cracker in Pennsylvania About 70% Complete
Shell, which decided to build the plant in 2016, has not provided a cost estimate for the facility. Analysts have estimated the project will cost $6 billion to $10 billion.
US Crude Oil Production to Fall Less in 2020 Than Previously Forecast
U.S. energy firms last week added oil and natural gas rigs for a third week in a row for the first time since October 2018 after price increases in recent months prompted some producers to start drilling again.
What’s Affecting Oil Prices This Week? (Oct. 5, 2020)
Dear Prudence—trading floors will be a major challenge for oil markets, Stratas Advisors says in its latest oil price forecast.
Tankers Carrying Iranian Fuel Begin Entering Venezuelan Waters
The first of a group of three tankers carrying Iranian fuel for gasoline-starved Venezuela entered the waters of the South American nation on Sept. 28, according to Refinitiv Eikon data.
What’s Affecting Oil Prices This Week? (Sept. 28, 2020)
So far in 2020 the oil market has seen Brent crude plummet, the U.S. lose 3 million bbl/d of crude production and European refiners more than halve utilization rates. However, as incredible as it seems, the worst might be yet to come, Stratas Advisors says in its latest oil price forecast.