2020-01-24 13:35:00
U.S. OIL EXPORTS 9 MBD
U.S. API - WASHINGTON, January 23, 2020 – U.S. petroleum exports hit a new all-time high of 9.0 million barrels per day (mb/d) in the final month of 2019, according to data released today from the American Petroleum Institute's December 2019 Monthly Statistical Report (MSR). This latest milestone came as U.S. crude oil production notched a fifth consecutive monthly increase to reach a record 12.9 mb/d.
"The strong December performance capped a historic year in America's energy revolution," API Chief Economist Dean Foreman said. "The global impact of this success story has become increasingly clear as the U.S. provided stability in a global marketplace rattled by geopolitical and economic headwinds. Look no further than the market's mild reaction to recent Middle East tensions, which less than a decade ago would have rocked consumers and financial markets. This is good news for American households and businesses."
Highlights from API's the December 2019 Monthly Statistical Report include:
- Total U.S. petroleum exports reached an all-time high of 9.0 mb/d, which included a record 3.6 mb/d in crude oil exports.
- Productivity and well completions drove record U.S. crude oil production of 12.9 mb/d.
- Solid December jet fuel demand contributed to an annual record.
- Refining and petrochemical demand for naphtha and gasoil "other oils" set records for December and the year.
Monthly Statistical Report (MSR) PDF version
-----
Earlier:
2020, January, 22, 12:55:00
OIL PRICE:NEAR $64
Brent was down 30 cents, or 0.5%, at $64.29 a barrel, WTI fell 33 cents, or 0.6%, to $58.05 a barrel
2020, January, 15, 12:50:00
OIL PRICES 2020-21: $65-$68
Brent crude oil spot prices will average $65 per barrel (b) in 2020 and $68/b in 2021, compared with an average of $64/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $5.50/b lower than Brent prices through 2020 and 2021, compared with an average WTI discount of about $7.35/b in 2019.
2020, January, 15, 12:45:00
U.S. OIL SLOWDOWN
But Papa, boss of the world’s largest oilfield services company, expects U.S. output to grow by just 400,000 bpd in 2020 and by 100,000-500,000 bpd per year through 2025, depending on future oil prices.
