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EIA: Crude oil demand returns faster than supply, increasing prices and reducing inventories

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The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 US crude oil production then fell to 9.7

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EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

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Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51 million barrels per day (b/d).

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.

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Neste Oil de-emphasizing microbial oil R&D for renewable diesel; seeking other uses for cellulosic biomass

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Despite the decision to de-emphasize microbial oil, Neste Oil emphasized that cellulosic waste will continue to play an important role in its research strategy, adding that it remains committed to its goal of further extending its feedstock base and making greater use of waste and residues in this area in particular.

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2014 Ram 1500 EcoDiesel earns 28 mpg highway; best in segment

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2014 Ram 1500 EcoDiesel. liter V6 EcoDiesel-powered 2014 Ram 1500 pickup ( earlier post ) has earned a 28-mpg (8.4 l/100 km) highway, a rating that stands for model-year 2014. The Ram 1500 now owns the half-ton pickup segment’s top two spots in the EPA’s 2014 highway fuel-economy rankings. Click to enlarge.

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DOE to award up to $88M for oil and natural gas recovery research

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The Department of Energy’s (DOE’s) Office of Fossil Energy announced up to $88 million in federal funding for cost-shared research and development projects enhancing technologies for oil and natural gas recovery under two separate funding opportunity announcements (FOAs). trillion cubic feet (Tcf) in 2017, beating the 2014 record of 388.8

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Oak Ridge-GM prototype low-viscosity ionic liquid-additized engine oil delivers 2% fuel economy improvement over 5W-30

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Prototype low-viscosity ionic liquid-additized engine oil demonstrated a 2% improved fuel economy compared to Mobil 1 5W-30 engine oil (3.93% over the 20W-30 baseline oil) in standard fuel efficiency engine dynamometer tests. 1%) in nonpolar hydrocarbon oils. —Dr.