Energy Intelligence Briefing articles from February 2009

Energy Intelligence Briefing archives from February 2009

New Year kicks off with more losses in oil demand.
February 3, 2009... WASHINGTON -- With the world economy still teetering on the brink of a collapse, global oil demand continues to show the ravages of collapsing activity. The New Year has begun a lot like last year ended. It showed massive declines in oil demand...

Saudis tell clients of output cuts and set tough prices.
February 5, 2009... NEW YORK -- Refiners buying Saudi Arabian oil in March will have to pay up for the limited volumes available. State Saudi Aramco on Thursday effectively raised prices for both light and heavy grades to all key regions, Asia, the US and Europe....

OECD commercial inventories swell despite Opec cuts.
February 13, 2009... WASHINGTON -- The world is awash in oil as inventories continue to rise. These higher inventories are weighing on prices, especially US benchmark West Texas Intermediate (WTI), which has been hurt specifically by record-high stocks at...

US imports less oil in 2008, yet more from Mideast.
February 24, 2009... NEW YORK -- US crude oil imports fell by 314,000 barrels per day in 2008 compared with 2007, but there was an increase of 195,000 b/d in purchases from the Mideast, US government data show. As a result, Mideast crude accounted for 24% of US...

Prime fields UK, Norway show 60,000 b/d output fall.
February 27, 2009... LONDON -- Brent crude oil contracts on ICE Futures have been bumping along in a $40-$50 rut for some time now, struggling in vain to break out in either direction. Some see the durability of the range-bound trading in the face of a deep global...