EIA petroleum price forecast predicts a 5-10% decline in crude oil, gasoline, and diesel prices in 2023 due to global production, economic growth, and market trends. Learn how these factors impact energy consumption and the oil industry.
Permanent refining capacity closures expected for 2020-2021 have risen to about 1.7 million barrels per day (bpd) as the COVID-19 pandemic hammers demand for oil products, according to the International Energy Agency (IEA). About a…
The February cold snap that pushed liquefied natural gas (LNG) prices to record highs is also roiling liquid petroleum gas (LPG), leading to shortages of the gas that’s used for heating and cooking as well…
Vacuum trucks are tank trucks equipped with a high-powered vacuum pump that sucks up solids, fluids, sludge or slurry at high speed through a hose. In the oil patch, their central task is to clean…
Remember all the media coverage just a few months ago about Chinese manufacturers poised to collapse due to lack of overseas buyers? It didn’t happen. Chinese factories are booming. Chinese goods are flooding into U.S…
Brightoil Petroleum (Holdings) Limited said last month it is now “back in business,’’ having reached a settlement with the Vietnam-based trader Petrolimex which initiated a bankruptcy order against Brightoil over a $30 million debt. In…
Transcourt Tank Leasing is proud to announce the addition of Connor Lilley to its sales force in the role of Director of Business Development for the US, reporting to Vice President Shawn Rogers. Connor comes…
The complex web of U.S. pipelines, tanks and export terminals that’s helped make America the world’s top oil producer is causing a headache for some crude buyers, industry analysts say.
As various types of crude…
Since the beginning of October, the price of oil has been dropping steadily. In late November the crude oil benchmark West Texas Intermediate (WTI) was off by nearly 25 percent. The market has seen this…
Crude Oil Continues Dominance rude oil products will continue to dominate global energy demand for transportation through 2040 despite surprisingly strong growth in electric vehicle sales, BP PLC said in its 2018 Energy Outlook....
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