Crude-by-rail volumes to the East Coast are declining ›
Movements of crude oil by rail within the United States averaged 443,000 barrels per day (b/d) in the first five months of 2016, down 45% from the same period last year. Fewer shipments of crude oil by rail from the Midwest (PADD 2) to the East Coast (PADD 1) account for about half of the decline. Crude oil shipments by rail have generally decreased since last summer for several reasons, including narrowing price differences between domestic and imported crude oil, the opening of new crude oil pipelines, and declining domestic production in the Midwest and Gulf Coast onshore regions. M
15 Opec and non-Opec producers, accounting for about 73 per cent of global oil output, “are supporting this initiative"
The main actors behind efforts to arrange an oil production “freeze" are trying to get a deal back on track for next month’s meeting, although the purpose of the gathering remains hazy.
The Qatari oil minister and current Opec president, Mohammed Al Sada, said last week that a meeting of “Opec and non-Opec producers" had been scheduled for April 17 in Doha.
His statement followed the cancellation of a similar meeting that had been scheduled for yesterday to follow up on a previous meeting between the oil ministers of Russia, Saudi Arabia, Qatar and Venezuela in Doha last month.
It is not yet clear who will attend the Doha meeting, although Mr Al Sada has said that 15 Opec and non-Opec producers, accounting for about 73 per cent of global oil output, “are supporting this initiative".
The oil minister of Oman, which is not an Opec member but produces about 1 million barrels per day, mainly for export, said yesterday that he had not yet received an invitation.
The UAE energy ministry could not say whether its minister would attend, but it has said it would commit to the freeze if other major producers also participated.
The UAE is on track to increase production to 3.2 million barrels per day by the end of next year, from 2.8 million bpd at the end of last year.
The major hold-up to a freeze agreement had been getting Iran on board, and it still refuses to curb its production, at least until it has risen back to the level it stood before international nuclear-related sanctions were imposed in 2012.
Opec has said Iran already increased production by 187,800 bpd to 3.13 million bpd after sanctions were lifted last month, the biggest monthly gain since 1997, and it plan
Vow manipulation at heights!
Oil at $27 XOM $79 NOW oIL AT $41 still XOM $84 compare to CVX $79 to $96 in same period..
LOL!!!!!!!!! 70 SHARES!!!!!!!!
16:13 $ 83.9454 70
16:11 $ 84.10 High 777
16:10 $ 83.9491 4,900
16:09 $ 84.0747 6,807
16:08 $ 84.10 232
16:08 $ 84.10 100
16:08 $ 84.10 200
16:08 $ 84.10 833,716
March 17 (Reuters) - U.S. energy major ExxonMobil is still considering plans to build a liquefied natural gas (LNG) plant either in the island of Sakhalin or in Khabarovsk region in Russia's far east, a senior company manager said on Thursday.
"We will promote our project at a pace which will ensure maximum profitability both for investors and the state," Alex Volkov, vice president for ExxonMobil Russia, told an energy conference.
"Easy money is always good for commodities and the Fed gave oil bulls yet another excuse to push crude prices higher," said John Kilduff, partner at New York energy hedge fund Again Capital.
U.S. crude CLc1 settled up $2.12, or 5.8 percent, at $38.46 a barrel. It had fallen 5 percent in the past two sessions.