Global oil markets are under increasing pressure as US crude oil and petroleum product inventories have fallen to their lowest point in 22 years. The US Energy Information Administration (EIA)…
Refinery
An oil refinery is an industrial facility that processes crude oil into valuable petroleum products, such as gasoline, diesel, and jet fuel. It employs complex chemical processes to separate, purify, and convert hydrocarbons for various applications in energy and manufacturing.
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US Crude Oil Stocks Plunge by 8 Million Barrels Amid Rising Export Demand: EIA Report
by Yukiby YukiThe United States Energy Information Administration (EIA) has reported a sharp decrease in commercial crude oil inventories, dropping by approximately 8 million barrels during the week ending May 29, 2026.…
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California Gasoline Prices Surge Amid Refinery Outages and Delayed Regulatory Action
by Yukiby YukiCalifornia is experiencing significant gasoline price increases, driven by tight supply conditions and delayed regulatory actions, according to consumer advocates and industry experts. Consumer Watchdog President Jamie Court warned the…
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Recent reports from the U.S. Energy Information Administration (EIA) highlight significant shifts in energy prices and inventory levels across the country. California’s natural gas prices have reached historic lows in…
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Gasoline prices across the United States have seen a notable drop this week, providing some respite to drivers after enduring months of elevated fuel costs. This recent decline is closely…
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Middle East Oil Production Expected to Rebound Strongly in 2027 Despite Current Conflicts
by Yukiby YukiMiddle Eastern oil producers are poised for a significant increase in crude oil output in 2027, following a sharp decline caused by regional conflicts and supply disruptions. Iraq, the second-largest…
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The ongoing geopolitical tensions in the Middle East have significantly disrupted global oil markets, with experts warning that the effects of the Strait of Hormuz closure will persist through the…
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The U.S. crude oil market, centered on WTI crude oil, is experiencing a tightening of gasoline supplies just as the summer driving season approaches. While the nation benefits from a…
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Goldman Sachs Forecasts High Oil Refining Margins Through 2026 Amid Supply Tightness
by Yukiby YukiGoldman Sachs has forecast that oil refining profits will remain robust through 2026 due to a tightening supply of petroleum products caused by ongoing conflicts in the Middle East. The…
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The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, continue to play a pivotal role in shaping global oil markets as they extend voluntary…