Tuesday, March 16, 2021
houston ship channel
Shipping

Oil Demand Drag Takes Toll on Tankers

By Jonathan Saul and Laura Sanicola LONDON/NEW YORK, March 16 (Reuters) – U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign...

March 16, 2021
Total Views: 1573

Friday, January 22, 2021
offshore rig
Offshore

Goldman Sachs Says Biden’s First Steps Are Bullish for Oil

By Andres Guerra Luz and Saket Sundria (Bloomberg) — Initial steps taken by U.S. President Joe Biden’s administration may help support the oil market this year and next, according to Goldman...

January 22, 2021
Total Views: 3068

Wednesday, January 20, 2021
vlcc tanker
Shipping

Tanker Owners Pay to Move Crude in Wake of Supply Cuts

By Alex Longley (Bloomberg) — Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s...

January 20, 2021
Total Views: 3074

Friday, January 8, 2021
vlcc tanker
Shipping

Oil Has Best Week in Four Months With Saudi Cut Buoying Prices

By Andres Guerra Luz (Bloomberg) — Oil posted the biggest weekly gain since late September as Saudi Arabia’s plan to slice output spurred a surge in physical crude buying. Futures in...

January 8, 2021
Total Views: 821

Tuesday, January 5, 2021
oil tanker loading
Offshore

Oil Tops $50 for First Time Since February

By Andres Guerra Luz (Bloomberg) — Oil surpassed $50 a barrel as Saudi Arabia pledged to voluntarily cut output by an extra 1 million barrels a day from next month, while most of the...

January 5, 2021
Total Views: 1187

Monday, December 28, 2020
Offshore Oil Rig At Night
Offshore

Opinion: Was 2020 Really So Bad for Oil?

By Liam Denning (Bloomberg Opinion) — If ever a year needed a shot of glass-half-full attitude, it’s 2020. I got it recently from an oil executive. Conversation turned inevitably to the pandemic and 10 million...

December 28, 2020
Total Views: 1287

Friday, November 13, 2020
Maritime News

China Oil Giant Unipec Eyes New Supertankers to Shrink Fuel Glut

By Sharon Cho, Elizabeth Low and Ann Koh (Bloomberg) –China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers...

November 13, 2020
Total Views: 668

Friday, November 6, 2020
tanker
Maritime News

Oil Pares Weekly Gain on Virus Surge and Election Uncertainty

By Andres Guerra Luz By Andres Guerra Luz (Bloomberg) –Oil pared its weekly gain as a resurgent pandemic raised the risk of further demand destruction, while the market awaits the...

November 6, 2020
Total Views: 31

Friday, October 30, 2020
Offshore Oil Rig At Night
Maritime News

Chevron, Exxon Shrink Spending as Coronavirus Cuts Demand

By Jennifer Hiller, Arathy S Nair and Shariq Khan Oct 30 (Reuters) – U.S. oil majors Chevron Corp and Exxon Mobil Corp cut spending aggressively in the third quarter in...

October 30, 2020
Total Views: 69

Chevron Big Foot
Maritime News

Chevron Posts Surprise Profit But Outlook is Grim

By Kevin Crowley (Bloomberg) –Chevron Corp. posted a surprise profit as the oil supermajor slashed capital spending to cope with the pandemic-driven collapse in crude demand. The California oil titan...

October 30, 2020
Total Views: 25

Thursday, October 29, 2020
semisubmersible drilling rig
Offshore

Exxon Mobil to Slash 14,000 Jobs Due to Oil Slump

By Kevin Crowley (Bloomberg) –Exxon Mobil Corp. will slash its global workforce by 15% by the end of 2022, an unprecedented culling by North America’s biggest oil explorer as it...

October 29, 2020
Total Views: 69

Offshore

Exxon Mobil’s Fading Star: United States’ Once Biggest Energy Company Surpassed by Rivals

By Jennifer Hiller Oct 29 (Reuters) – Exxon Mobil Corp was once the largest U.S. publicly traded company in the United States. Now, the oil major is not even the...

October 29, 2020
Total Views: 55

Thursday, October 15, 2020
tanker loading
Maritime News

U.S. Crude, Fuel Stockpiles Drop Sharply Amid Hurricane -EIA

By David Gaffen Oct 15 (Reuters) – U.S. crude stockpiles fell sharply last week, as offshore oil production was shut due to Hurricane Delta, while distillate inventories posted their biggest...

October 15, 2020
Total Views: 11

Thursday, September 10, 2020
oil tanker photo
Maritime News

BP Books Tanker for Storage at Lowest Rate This Year

By Florence Tan and Roslan Khasawneh SINGAPORE, Sept 10 (Reuters) – Oil major BP has provisionally chartered a supertanker to store crude oil off Malaysia at this year’s lowest rate...

September 10, 2020
Total Views: 62

Thursday, July 23, 2020
vlcc tanker
Maritime News

Oil Drops With Demand Worries Reverberating From U.S. to Asia

By Andres Guerra Luz (Bloomberg) –Oil weakened as economies from the U.S. to Asia signaled a deepening demand fallout from the coronavirus pandemic. China’s cooling oil consumption hurt prices for Iraqi...

July 23, 2020
Total Views: 17

Monday, July 20, 2020
Maritime News

Oil Tanker Titans to Get Little Joy From OPEC+ Opening the Taps

By Ryan Hesketh (Bloomberg) –At almost any other moment in history, the promise of oil producers pouring millions of barrels of crude to the global market would have been cause...

July 20, 2020
Total Views: 4

Friday, July 17, 2020
oil tanker at anchor
Maritime News

Oil Weakens In Wake of Sluggish Economic Recovery

By Andres Guerra Luz (Bloomberg) –Crude dropped as investors assessed weak economic data and signals that a recovery in consumption may be slowing. Domestic consumer sentiment posted a surprise drop with...

July 17, 2020
Total Views: 9

Wednesday, July 15, 2020
tanker at sea
Maritime News

Gunvor CEO Says Oil Trading and Shipping Thrived Amid Coronavirus Crash

By Andy Hoffman and Laura Hurst (Bloomberg) –The billionaire CEO of Gunvor Group told staff the firm thrived during the oil market meltdown caused by the Covid-19 pandemic as trading...

July 15, 2020
Total Views: 23

Wednesday, July 1, 2020
Louisiana Offshore Oil Port
Maritime News

Thrown for a LOOP: Crude Exports in Surprising Surge at U.S. Offshore Port

By Laila Kearney NEW YORK, July 1 (Reuters) – Crude exports from the Louisiana Offshore Oil Port (LOOP) are hitting a record high even as U.S. crude exports have fallen...

July 1, 2020
Total Views: 30

Tuesday, June 30, 2020
vlcc tanker
Maritime News

Saudi Arabia Makes Good on OPEC+ Oil Cuts

(Bloomberg) — Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June. Observed Saudi crude exports for this month fell...

June 30, 2020
Total Views: 12