For the 2021 calendar year, there will be 5.8 million barrels per day crude production cuts. These cuts are an effort to balance the current oversupply due to COVID-19 with an estimated demand forecast for the year.
refinery
OPEC+ Alterations Amidst Additional Oversupply
By: Ryan Wolfe / Posted on: November 10, 2020
Refined Products Rally
By: Mike Dombroski / Posted on: September 17, 2020
The oil patch is rallying today being led by refined products. This is due to the fact that Hurricane Sally has left a trail of “catastrophic” rainfall in Alabama earlier this week and is now barreling through the Carolinas and is hindering supply at petroleum terminals.
The Eye in the Sky
By: Matt Karol / Posted on: August 21, 2020
The use of drones are being utilized in various industries all the time, from the military to recreation, but could we see the use of drones in the oil and gas industry? Of course, the drone model DJI M300 is used quite frequently in refinery inspections. “The accuracy of measurement increases with every new DJI drone model” says, Italian Engineer and spokesman, Flavio Dolce.
Trade War Takes a Back Seat to Oil Fundamentals
By: Peter Haralambakis / Posted on: September 20, 2019
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