Global oil demand growth was a much heralded sidekick to supply cuts that rebalanced the market in record time. Now the Saudi Arabia-Russia pronged pact is considering reversing course on its output cut deal, while demand growth shows little sign of letting up.
(Mon, 11 Jun 2018) Global trade in liquefied natural gas (LNG) reached 38.2 billion cubic feet per day (Bcf/d) in 2017, a 10% (3.5 Bcf/d) increase from 2016 and the largest annual volume increase on record, according to the Annual Report on LNG trade by the International Association of Liquefied Natural Gas Importers (GIIGNL). In 2017, there were 19 LNG exporting countries and 40 LNG importing countries. Australia and the United States were among the countries with the largest increases (2.7 Bcf/d combined) in 2017 LNG exports.
Attendance was greater than ever at the IATA Fuel Forum in London. Ease of location was no doubt a factor, with fuel procurement teams flying in to London from all over the world. However, another factor is the current robust health of the airline industry... for now at least.
Since 1988, S&P Global Platts has published a monthly survey tracking OPEC crude oil production by country. The estimates are obtained through a review of proprietary shipping data, news reportage and surveys of knowledgeable sources.
(Fri, 08 Jun 2018) Regional natural gas infrastructure issues in Southern California could affect electricity reliability this summer, according to separate studies recently released by the Southern California Gas Company (SoCalGas) and the Aliso Canyon Technical Assessment Group. Depending on natural gas infrastructure changes and storage operations this summer, these issues could also have implications for the upcoming winter.
Since a collaboration with Intercontinental Exchange took effect six months ago, S&P Global Platts has seen a substantial increase in natural gas trade information on a day-to-day basis, resulting in a more enhanced view of the markets.
(Thu, 07 Jun 2018) Households in the United States with more vehicles not only travel more, but they often put more miles on their most-used (primary) vehicle compared with households with fewer vehicles, according to the Federal Highway Administrationâs National Household Travel Survey (NHTS). Households with just one vehicle drove an average of about 11,100 miles per year, while households with more than five vehicles traveled a total of about 41,800 miles; each additional vehicle within a household had less average use.
(Wed, 06 Jun 2018) Distillate fuel continued to be the most exported U.S. petroleum product in 2017, averaging 1.4 million barrels per day (b/d) of gross exports. U.S. distillate exports went to 79 different destinations in 2017, particularly to markets in Central America, South America, and Europe. The proximity of U.S. Gulf Coast refineries to Mexico and to Central and South America combined with high demand in these regions led to higher U.S. distillate exports to these locations.
(Tue, 05 Jun 2018) Results from the 2015 Residential Energy Consumption Survey (RECS) introduced estimates of energy consumption for an expanded list of energy end uses. For electricity, the number of end uses estimated has expanded from 4 to 26 by adding estimates for equipment such as dishwashers, clothes washers, clothes dryers, televisions, and lighting.
(Mon, 04 Jun 2018) With increasing crude oil prices and rig counts over the past several months, the U.S. Energy Information Administration (EIA) continues to closely monitor U.S. crude oil production trends. EIA publishes several reports that cover current crude oil production conditions and how recent trends may affect the near-term outlook for the oil industry.
