Iraqi compliance to the OPEC-non-OPEC output deal is just over 50% at an average production of 4.45 million barrels per day (MMBPD) so far this year, compared to the OPEC’s overall 101% compliance rate, UK’s pricing agency Argus estimates.
The growth of global demand for petroleum products will decelerate “significantly” by 2022, as changes in vehicle fleet affect gasoline and diesel demand, Kallanish Energy learns from U.S. consultancy firm ESAI Energy.
U.S. crude oil inventories (excluding the Strategic Petroleum Reserve) fell by 8.9 million barrels (MMBbl) for the week ended Aug. 11 from the previous week, the Energy Information Administration said in its Weekly Petroleum Status Report.
The number of drilled, but uncompleted wells – so-called DUCs – rose 3% from June to July in the Lower 48 U.S. state’s seven most prolific drilling regions, according to the Energy Information Administration’s just-released Drilling Productivity Report (DPR).
Specialty petroleum products producer Calumet Specialty Products Partners said Monday it’s selling its Superior, Wisc., refinery and related assets to a Husky Energy unit for $435 million in cash.
Total crude oil production from the Organization of Petroleum Exporting Countries increased 173,000 barrels per day (BPD) in July from June, to average 32.87 million barrels per day (MMBPD), according to secondary sources used in the cartel’s August Monthly Oil Market Report.