RBN’s Daily Energy Blog and Insights sharpen your energy IQ through fundamentals-based analysis that makes sense of North America’s energy market dynamics.
U.S. oil and gas rig count gained one rig to 563 for the week ending June 5 according to Baker Hughes data, with little movement across most basins, as a two-rig gain in Permian offset a one-rig decline in Anadarko and all other basins were unchanged.
As discussed in the Crude Voyager Report for the week ended May 29, exports out of the U.S. Gulf Coast (USGC) averaged 5.4 MMb/d, with strength seen across a number of terminals. In the Houston region, the Seaway Freeport Terminal recorded export activity for the seventh consecutive week. While only one Aframax cargo was seen, the terminal's seven-week streak represents its longest period of uninterrupted export activity since 2023, signaling a notable increase in utilization compared with the sporadic loadings observed in recent years.
Crude Oil Permian provides detailed analysis of the fundamental drivers impacting the Permian Basin crude oil market including weekly data, analysis and market intelligence updates of: Permian crude oil supply and demand, pipeline outflows and capacity, prices, and infrastructure updates.
After falling to its lowest monthly average since October 2023 in April, the U.S. propane-to-WTI crude ratio is showing signs of recovery. The ratio started June higher than May's average, as propane regained some ground relative to crude oil. While it's too early to call a sustained turnaround, the early June rebound bears watching.
Alberta crude oil and condensate production for April was little changed from March, declining by only 22 Mb/d to average 4.492 MMb/d, and was up 162 Mb/d year-over-year, according to monthly data released by the Alberta Energy Regulator on May 29.
U.S. oil and gas rig count gained four rigs to 562 for the week ending May 29 according to Baker Hughes data, as a five-rig gain in Permian and a one-rig gain in All Other outweighed declines in Anadarko (-1) and Gulf of Mexico (-1); all other basins were unchanged.
South Bow Corp. announced on May 29 a “successful outcome” of the open season held in March that solicited firm transportation commitments for crude oil from Hardisty, AB to U.S. delivery points including Cushing, OK and the Gulf Coast.
The global oil market has been especially volatile this year, but the United Arab Emirates’ decision to cease its OPEC membership provided another jolt. Today, we dig into why the UAE chose this path and the potential implications for the global market and U.S. producers.
Crude Oil TradeView provides up-to-date data and insights into the behavior of differentials for 33 crude assessments across North America. Each week, it also walks you through the reasoning of why differentials widen, narrow, flip (premium vs. discount), or blow out.
U.S. Gulf Coast crude exports exceeded 5 MMb/d for the sixth consecutive week, averaging 5.2 MMb/d as global demand for U.S. barrels remained firmly intact despite modest week-over-week regional fluctuations.
The White House gave the green light on March 18 for foreign-flagged tankers to move crude oil and refined products between U.S. ports by waiving the Jones Act. In less than two months, about 60 waivers have been recorded. Today, we’ll dig into the new patterns that have emerged.
U.S. oil and gas rig count gained seven rigs to 558 for the week ending May 22 according to Baker Hughes data, as gains in Permian (+4), the Eagle Ford (+2) and Gulf of Mexico (+2) more than offset a one-rig decline in the Haynesville. All other basins were unchanged.
