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Tag Archives: US shale oil

U.S. refiners find the oil market’s sweet spot: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Low crude prices and strong demand for gasoline are creating near-perfect conditions for oil refineries across the United States, especially those geared towards maximizing gasoline production. Valero, the country’s largest independent refiner, made a gross margin of more than $13 on every barrel of oil ...

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ND gas flaring goals jeopardized by low oil prices

oil production

BISMARCK, N.D. — North Dakota’s top energy regulator says the low oil prices might jeopardize targets that require reducing the amount of natural gas that is burned off as a byproduct of the state’s oil production. State Mineral Resources Director Lynn Helms told some lawmakers Monday that the oil industry is exceeding rules that require reducing the amount of natural ...

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North Dakota’s oil production has peaked: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – North Dakota’s crude oil output has peaked, according to the latest production data published by the state government, as the slump in prices takes its toll. The state produced 1.17 million barrels per day (bpd) in April, down from a peak of 1.23 million in ...

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Oklahoma oil storage complex nears operational capacity

CUSHING, Okla. — The massive oil storage complex at Cushing is nearing its operational capacity as oil inventories nationwide continue to rise. Home to the nation’s largest oil storage facility, Cushing’s sprawling tank complex held more than 51.5 million barrels of oil as of March 6, The Oklahoman reported Sunday. Oil inventories have grown for eight consecutive weeks as of ...

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