Iran signalled on Tuesday it was prepared to work with Saudi Arabia and Russia to prop up oil prices

Iran gives cautious nod to oil deal as bargaining starts | Reuters



-William

Why were oil imports so low in EIA report just released?

ron99 

Why were oil imports so low in EIA report just released?

The Scalper's Journey yes you are right. I think lots of rigs in the Gulf of Mexico had to shut down and stop production last week. Hence we had an abnormal draw down. Which squawk service do you use?

Hope it helps.

Need to remember a VLCC is 2.25MB so one VLCC being delayed a day is 325kb/day for the entire week. That's one of the reasons that the import numbers are so lumpy and with Hurricane Hermine around last week it probably effected several discharges in the Gulf.

Note that DOE report is week ending Sept 2nd and Hermine hit land (Florida) on the 2nd and started moving up the east coast with 50mph winds on the 3rd. While there are a few refineries on the East Coast their disruption for this week will probably be minimal. Question is next week do we see a jump in imports as all the delayed ships discharge?

SMCJB 

Need to remember a VLCC is 2.25MB so one VLCC being delayed a day is 325kb/day for the entire week. That's one of the reasons that the import numbers are so lumpy and with Hurricane Hermine around last week it probably effected several discharges in the Gulf. Note that DOE report is week ending Sept 2nd and Hermine hit land (Florida) on the 2nd and started moving up the east coast with 50mph winds on the 3rd. While there are a few refineries on the East Coast their disruption for this week will probably be minimal. Question is next week do we see a jump in imports as all the delayed ships discharge?

Did companies work Labor Day to make up for lost unloadings? I assuming they did so we won't have dip in imports for Labor Day like most years.

Or did ships not make it to port by Labor Day? They were still out in Atlantic.

Ports & Terminals are all 24x7 [edit] and refineries

The Crazy, Mixed-Up Global Oil Market - Bloomberg

"Ultra-low crude prices combined with cheap shipping rates are encouraging a host of exotic new oil trading routes.."

What @SMCJB said earlier

John Kemp ‏@JKempEnergy 6m6 minutes ago

US CRUDE IMPORTS accelerated by almost +1 million b/.d to 8.06 million b/d last wk as storm passed, tankers arrived

-William

WilleeMac 

What @SMCJB said earlier John Kemp ‏@JKempEnergy 6m6 minutes ago US CRUDE IMPORTS accelerated by almost +1 million b/.d to 8.06 million b/d last wk as storm passed, tankers arrived -William

Imports are still below the 7 prior weeks to the drop. I think there will be increased imports again next week.

ron99 

Imports are still below the 7 prior weeks to the drop. I think there will be increased imports again next week.

My feelings as well