IEA report: Venezuela could soon tip the oil market
Crisis-hit Venezuela could soon tip the oil market 'decisively into deficit,' IEA says. Venezuela's crude output is projected to tumble to 1.38 million barrels per day (mb/d) by the end of
Gulf Coast refiners fear loss of Venezuelan oil
Gulf Coast refiners fear loss of Venezuelan oil. Citgo Petroleum Corp., the U.S. refining arm of Venezuela's state oil company, was indicted for benzene emissions at a refinery and for failing
U.S. Net Imports from Venezuela of Crude Oil and Petroleum
U.S. Net Imports from Venezuela of Crude Oil and Petroleum Products (Thousand Barrels per Day)
Venezuela's oil woes worsen as output slides to 1.509 mil
The US is likely to impose potential sanctions on Venezuela's oil sector especially if Mike Pompeo is confirmed as US secretary of State. Analysts from US consultancy Rapidan Energy Group expect production to plummet at a faster pace, forecasting output to reach 1.1 million b/d by December 2018, adding that it could even go as low as 970,000 b
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Petroleum refineries convert crude oil and other liquids into many petroleum products that people use every day. Most refineries focus on producing transportation fuels. On average, U.S. refineries produce, from a 42-gallon barrel of crude oil, about 19 to 20 gallons of motor gasoline , 11 to 12 gallons of distillate fuel , most of which is
Venezuela crude oil output careens toward 1 million b/d
"If the worst-casescenario for June production comes true, then we could see Venezuela'sproduction fall to 1 million b/d sooner." EIA's latest STEO report estimated Venezuelan output at 1.43 million b/dfor May, down from 1.46 million b/d a month earlier and from 1.98 million b/din May 2017.
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Interactive chart showing the daily closing price for West Texas Intermediate (NYMEX) Crude Oil over the last 10 years.The prices shown are in U.S. dollars. The current price of WTI crude oil as of January 06, 2020 is $63.27 per barrel.
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Oil climbs on Venezuelan crisis despite surging US supply
Oil prices rose on Friday as political turmoil in Venezuela threatened to tighten crude"Venezuelan production will decline by an additional 300,000-500,000 barrels per day"The evolving situation in Venezuela appears capable of delaying our expected test of