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- U.S. crude oil and gasoline inventories rose last week as refineries increased their capacity use and U.S. crude output reached a record level, according to data released Wednesday by the U.S. Energy Information Administration.
www.wsj.com/business/energy-oil/u-s-crude-oil-gasoline-stocks-rise-as-refineries-ramp-up-runs-f67eae01U.S. Crude Oil, Gasoline Stocks Rise as Refineries Ramp Up ...
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Apr 2, 2024 · US crude futures have gained 20% this year and pushed energy stocks to outperform the market as rising geopolitical tensions and lower supply buoy prices.
- 3 min
- Ines Ferré
Jul 3, 2024 · Oil prices gained about 1% on Wednesday after a larger-than-expected decline in U.S. crude stocks, but gains were capped by concerns about rising global inventories in thin trading ahead of the...
- Nicole Jao
Sep 13, 2024 · Crude oil price analysis and research that covers crude oil futures and oil price forecasts. We also look at events that cause oil price movements.
Follow today's crude oil price moves and key news stories driving oil price actions, as well as developments in the broader energy sector.
- OPEC Production Cuts
- Demand Trends Strong
- U.S. Rig Counts Falling
- Looking Ahead For Oil
Perhaps the single biggest driver of rising oil prices has been supply cuts by Russia and the Organization of Petroleum Exporting Countries (OPEC). On September 5, Saudi Arabia announced it will be extending its 1 million barrel per day production cuts through at least the end of the year. Russia has announced it will be cutting production by 300,0...
Historically, U.S. oil demand and economic growth are highly correlated, and the U.S. economy has performed much better than most economists had anticipated so far in 2023. Crude oil prices pulled back from their recent highs after the Federal Open Market Committee (FOMC) took a hawkish tone at its September meeting, emphasizing investors should be...
In the past, U.S. oil companies reacted to rising oil prices and tight supplies by aggressively investing in ramping up oil production. This time, they seem to be taking a much more cautious approach. The number of operating U.S. oil rigs dropped by eight to 507 rigs for the week ending September 22, its lowest level since February 2022. Total U.S....
Looking ahead, U.S. oil refiners expect to have about 1.7 million bpd of refining capacity offline for the week ending September 29, and that offline capacity is expected to expand to 1.9 million bpd for the week ending October 6, according to research company IIR Energy. Given falling rig counts and offline refiners, U.S. drivers may not get much ...
- Wayne Duggan
Dec 20, 2023 · U.S. crude oil and gasoline inventories rose last week as refineries increased their capacity use and U.S. crude output reached a record level, according to data released Wednesday by the...
Dec 20, 2023 · U.S. crude oil and gasoline inventories rose last week as refineries increased their capacity use and U.S. crude output reached a record level, according to data released Wednesday by the U.S....
