From Bearish to Bullish

The NGL market is in the midst of a bearish-to-bullish reversal led by ethane and propane. In the 12-month forecast period, fundamentals for both products will essentially follow the same path. Waterborne exports and lower NGL production will chip away..

Pressure Mounts to Curtail Throughput

Pressure Mounts to Curtail Throughput High product stocks are weighing more heavily on refining margins in Europe and Asia and refiners are beginning to respond with lower throughput. At the same time, tight crude fundamentals will support higher feedstock costs this summer. 2016 throughput growth has been revised slightly lower accordingly resulting in a more…

Turkey Drives European Product Demand Growth

Turkey Drives European Product Demand Growth With economic growth forecast to outpace the rest of Europe and a sustained influx of migrants expected due to the continuing violence in Syria and the migrant deal with the EU, Turkey is expected to account for about 65,000 b/d, or half of total European product demand growth in…

Low Venezuelan Throughput Threatens PetroCaribe

Low Venezuelan Throughput Threatens PetroCaribe In the wake of a series of severe refinery disruptions, ESAI Energy has revised down its expectations for Venezuelan throughput for the middle part of 2016. Those revisions, from already low utilization rates have led our expectations for balances in the country and the wider Caribbean Basin to deteriorate further…

Unofficial Commercial Crude Stocks Rising

Unofficial Commercial Crude Stocks Rising Despite moderate oil product demand growth of 310,000 b/d, China is expected to increase net crude imports by 450,000 b/d to 7.1 million b/d in 2016. ESAI Energy believes in addition to over 70 million barrels of SPR fill and official commercial crude stock build, up to 90 million barrels…