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The rise in medium and heavy refiner demand was already pushing the production-cut agreement among members of the Organization of Petroleum Exporting Countries as well as some non-members towards an end by 2019, ESAI Energy points out in its May Global Crude Oil Outlook.

US Gulf Coast onshore ports’ limited tanker loading capacities could increase crude oil export costs because the ports are not able to accommodate very large crude carriers, the US Energy Information Administration warned.

European governments must resist letting controversial proposed projects such as the Nord Stream 2 natural gas pipeline keep them from developing a unified strategy to prevent Russian energy interventions, speakers agreed at a May 24 Atlantic Council forum.

Officials from the American Petroleum Institute, Natural Gas Supply Association, and eight other national energy business groups strongly criticized ongoing Trump administration plans to keep otherwise failing coal-fired and nuclear power plants open ostensibly to assure electricity service will remain reliable nationwide.

Impacted by the US decision to pull out of the Iran nuclear deal, the global oil market is switching its focus from the fundamentals to geopolitics, the International Energy Agency said in its latest Monthly Oil Market Report.

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