A crude oil feedstream is treated to remove or reduce the content of known undesired heteroatomic and polynuclear aromatic compounds containing nitrogen and sulfur by contacting the feedstream with one or more solid adsorbent materials selected from attapulgus clay, alumina, silica gel and activated carbon in a mixing vessel for a time that is sufficient to optimize the adsorption of the undesired compounds from the crude oil, subjecting the mixture to atmospheric flash distillation and then to vacuum flash distillation to recover presorbed boiling ranges of products having a lowered content of the undesired compounds, and preferably regenerating at least a portion of the solid adsorbent material for reuse in the process.

A process train for a floating production storage and offloading installation includes a crude oil storage tank that is equipped with at least one set of electrostatic internals arranged to provide a treatment flow path isolated from a surrounding volume of the electrostatic separator section of the tank. An oil-and-water stream or mixture entering the set of electrostatic internals travels along the treatment flow path and is subjected to an electric field. The treatment flow path is in an upwardly direction toward the oil outlet section and in a downwardly opposite direction toward the water outlet section of the tank. Employing electrostatic internals within the tank permits an allowable inlet water content into the tank of up to 80%, significantly reducing the required topside processing equipment.

A process train for a floating production storage and offloading installation includes a crude oil storage tank equipped with at least one set of electrostatic internals. The set of electrostatic internals are arranged to provide a treatment flow path within the crude oil storage tank oblique to a longitudinal centerline of the crude oil storage tank and through an electric field provided by the set of electrostatic internals. Employing these electrostatic internals within the tank permits an allowable inlet water content into the tank of up to 80%, significantly reducing the required topside processing equipment. The process and system also includes, upstream of the tank, two separator vessels arranged in parallel so each receives a portion of an incoming oil-and-water stream, a flash vessel arranged downstream of the two separator vessels, and a degasser vessel. Downstream of the crude oil storage tank is an electrostatic treater.

The major U.S. index futures are currently pointing to a sharply lower open on Tuesday, with stocks likely to extend the pullback seen in the previous session.

Oil prices fell early Wednesday, likely a result of lower-than-expected draws in an API with traders awaiting official EIA inventory data later in the day.

Oil prices were higher early Tuesday amid renewed concern about Venezuelan supplies but market worries about China-U.S. trade issues prevented higher gains.

Oil prices rose early Friday amid supply concerns following reports of smaller-than-expected stocks, and amid reduced expectation of interest rate hikes.

While all eyes have been on the huge fall in the outright price of crude oil, the oil options markets...

The post Crude Oil Options Are Predicting Lasting Volatility appeared first on OpenMarkets.

"The entire energy market is still on a knife edge," says an economist.

Low oil prices will have a positive impact on glass manufacturing, transport, industrial power, plastics, lubricants, petrochemical, , FMCG, paint, rubber & tyre manufacturing companies

Exxon Mobil Corp. will use renewable energy to produce oil in West Texas.

"Know what you own" is an old adage when investing, but it is especially important when owning investments that hold futures contracts.

Crude oil prices crashed more than 30% on Monday.

In fact, this was the worst price dip since the 1991 Gulf War as Brent prices plunged to US$ 31 per barrel.

Here are 10 key things you need to know about the economics of falling crude oil prices:

1. Oil prices have collapsed thrice because of demand destruction: in 1979, 2008, and 2014.

   1979: The trigger for oil price increase was the Iranian Revolution and the Iran-Iraq war. Due to this, oil prices rose from US$ 50/barrel to above US$ 100/barrel between January 1979 and April 1981. Then, new production from the North Sea, Mexico, Alaska, and Siberia flooded the market. By March 1986, prices had fallen to US$ 27/barrel.

   2008: Oil touched US$ 150/barrel and was quickly followed by the financial crisis and recession which led to crash in crude oil prices as well.

   2011-2014: Oil was above of US$ 100/barrel, several years of triple-digit oil prices led to a near doubling of shale production in the US, a volume that helped trigger the crash in 2014.

2. 2016: Saudi Arabia and Russia came together to form the so-called OPEC+ alliance after oil prices plunged to US$ 30 a barrel. Since then, the two leading exporters have orchestrated supply cuts of 2.1 million barrels per day.
3. 2019: Prices went on to witness huge volatility in 2019 amid declines in US inventories and rising geopolitical tensions in the Middle East and the world's two biggest oil consumers - United States and China.
4. July 2019: The OPEC and allies sat to discuss whether to extend a deal on cutting 1.2 million barrels per day of oil production. Owing to the above geopolitical tensions, weaker demand outlook, and oversupplied market, the OPEC and allies rolled over their production cuts into March 2020. Volatility intensified further in July after US oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued in the Middle East.
5. March 2020: Saudi Arabia wants to increase the cuts to 3.6 million barrels per day through 2020 to check the weaker consumption. However, Russian President Vladimir Putin, refused to go along with the plan and his energy minister, Alexander Novak signaled a fierce battle to come for market share when he said countries could produce as much as they please from April 1.
6. 9^th March 2020: Crude oil prices fell 31% on Monday after Saudi Arabia launched an oil price war with Russia. Saudi Arabia slashed prices and said it is preparing for a big increase in crude oil production in April. Prices were cut by US$ 4-6 a barrel to Asia and US$ 7 to the United States for April delivery. Saudi Arabia reportedly prepares to increase its crude production above 10 million barrels per day (bpd) in April, after the current deal to curb production expires at the end of March. A major reason for these production cuts is also to arrest the swooning oil prices owing to the novel Coronavirus outbreak.
7. Worse than the Previous Crashes: The current situation is more worse than the November 2014 crash, when such a price war was started, as it comes to a head with the significant collapse in oil demand due to the Coronavirus outbreak. It also reflects the deep underlying concern of a lack of consensus among the OPEC nations regarding production cuts.
8. Impact on Indian Economy: The drop in crude oil price bodes well for India as it imports more than 80% of its oil requirements, with nearly 60% of them imported from the Middle East. Since oil imports form a large chunk of India's imports, it contributes to the country's trade deficit and a fall in prices will trim this deficit. Savings on oil imports could also arrest rising inflation and facilitate the next round of rate cuts by the Reserve Bank of India (RBI).
9. Industries to Benefit: On an industrial level, the price cut will have a beneficial impact on companies from synthetic fibre producers, tyre, paints, lubricants, plastic, and FMCG sectors that depend on crude oil as their primary raw material.
10. On the consumer level, there could be a fall in retail prices of gasoline and diesel over the next few weeks as oil companies cut retail prices to pass on the decline in crude oil prices.

Going ahead, market participants are expecting crude oil prices to remain low until OPEC+ resets oil production again.

Vijay Bhambwani, editor of Weekly Cash Alerts at Equitymaster, states that at this point in time, short selling natural gas & crude oil at significantly higher levels for the coming summer are high conviction trades. To know more about his view and positions, you can check out his recent article here: Energy Markets Get Muddy (requires subscription).

He's also shared his views on the ongoing "coronavirus" situation where he talks what's around the corner for crude oil, and how one should position oneself for potential gains. You can check this special podcast episode from Investor Hour here:

Well, then...these are some major highlights crude oil markets witnessed in the past and present and how they have been impacting crude oil prices.

Exports of (bop) - Crude Oil and Crude Bitumen in Canada decreased to 6305.10 CAD Million in March from 6551.20 CAD Million in February of 2020. Exports of (bop) - Crude Oil and Crude Bitumen in Canada averaged 2866.61 CAD Million from 1988 until 2020, reaching an all time high of 8640.80 CAD Million in May of 2014 and a record low of 277.10 CAD Million in November of 1988. This page includes a chart with historical data for Canada Exports of (bop) - Crude Oil And Crude Bitumen.

Crude Oil Rigs in Iraq decreased to 58 in April from 61 in March of 2020. Crude Oil Rigs in Iraq averaged 45.70 from 2009 until 2020, reaching an all time high of 96 in June of 2014 and a record low of 0 in June of 2009. This page provides - Iraq Crude Oil Rigs- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Rigs in Angola increased to 7 in April from 6 in March of 2020. Crude Oil Rigs in Angola averaged 6.32 from 1995 until 2020, reaching an all time high of 18 in February of 2014 and a record low of 1 in January of 2000. This page provides - Angola Crude Oil Rigs- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Rigs in Algeria increased to 26 in April from 22 in March of 2020. Crude Oil Rigs in Algeria averaged 19.59 from 1995 until 2020, reaching an all time high of 42 in June of 2017 and a record low of 2 in April of 1995. This page provides - Algeria Crude Oil Rigs- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Exports of Mfg Prds - Crude Oil in Brazil increased to 100570.60 USD Million in April from 2284.93 USD Million in March of 2020. Exports of Mfg Prds - Crude Oil in Brazil averaged 1372.44 USD Million from 2000 until 2020, reaching an all time high of 100570.60 USD Million in April of 2020 and a record low of 0 USD Million in August of 2000. This page includes a chart with historical data for Brazil Exports of : Mfg Prds - Crude Oil.

Crude Oil Production in Germany remained unchanged at 37 BBL/D/1K in December from 37 BBL/D/1K in November of 2019. Crude Oil Production in Germany averaged 56.42 BBL/D/1K from 1994 until 2019, reaching an all time high of 79 BBL/D/1K in June of 2005 and a record low of 37 BBL/D/1K in May of 2019. This page provides the latest reported value for - Germany Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Greece increased to 3 BBL/D/1K in December from 2 BBL/D/1K in November of 2019. Crude Oil Production in Greece averaged 3.54 BBL/D/1K from 1994 until 2019, reaching an all time high of 11 BBL/D/1K in February of 1994 and a record low of 0 BBL/D/1K in January of 1999. This page provides - Greece Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Brunei increased to 119 BBL/D/1K in December from 118 BBL/D/1K in November of 2019. Crude Oil Production in Brunei averaged 149.53 BBL/D/1K from 1994 until 2019, reaching an all time high of 221 BBL/D/1K in March of 2006 and a record low of 70 BBL/D/1K in April of 2018. This page provides the latest reported value for - Brunei Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Bulgaria remained unchanged at 1 BBL/D/1K in December from 1 BBL/D/1K in November of 2019. Crude Oil Production in Bulgaria averaged 0.92 BBL/D/1K from 1994 until 2019, reaching an all time high of 1.10 BBL/D/1K in February of 1994 and a record low of 0.60 BBL/D/1K in January of 1997. This page provides - Bulgaria Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in France decreased to 14 BBL/D/1K in December from 15 BBL/D/1K in November of 2019. Crude Oil Production in France averaged 24.75 BBL/D/1K from 1994 until 2019, reaching an all time high of 58 BBL/D/1K in February of 1994 and a record low of 12 BBL/D/1K in May of 2019. This page provides - France Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Italy increased to 76 BBL/D/1K in December from 72 BBL/D/1K in November of 2019. Crude Oil Production in Italy averaged 95.02 BBL/D/1K from 1994 until 2019, reaching an all time high of 120 BBL/D/1K in October of 1997 and a record low of 23 BBL/D/1K in July of 2016. This page provides the latest reported value for - Italy Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Japan remained unchanged at 4 BBL/D/1K in December from 4 BBL/D/1K in November of 2019. Crude Oil Production in Japan averaged 6.40 BBL/D/1K from 1994 until 2019, reaching an all time high of 13 BBL/D/1K in July of 1996 and a record low of 3 BBL/D/1K in November of 2016. This page provides the latest reported value for - Japan Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in South Africa remained unchanged at 1 BBL/D/1K in December from 1 BBL/D/1K in November of 2019. Crude Oil Production in South Africa averaged 14.42 BBL/D/1K from 1998 until 2019, reaching an all time high of 58 BBL/D/1K in November of 2003 and a record low of 1 BBL/D/1K in September of 2018. This page provides - South Africa Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Spain remained unchanged at 1 BBL/D/1K in December from 1 BBL/D/1K in November of 2019. Crude Oil Production in Spain averaged 5.54 BBL/D/1K from 1994 until 2019, reaching an all time high of 17 BBL/D/1K in February of 1994 and a record low of 0.04 BBL/D/1K in July of 2019. This page provides the latest reported value for - Spain Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Netherlands decreased to 13 BBL/D/1K in December from 17 BBL/D/1K in November of 2019. Crude Oil Production in Netherlands averaged 34.46 BBL/D/1K from 1994 until 2019, reaching an all time high of 87 BBL/D/1K in June of 1994 and a record low of 7 BBL/D/1K in September of 2019. This page provides the latest reported value for - Netherlands Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Poland decreased to 19 BBL/D/1K in December from 21 BBL/D/1K in November of 2019. Crude Oil Production in Poland averaged 13.73 BBL/D/1K from 1994 until 2019, reaching an all time high of 24 BBL/D/1K in August of 2019 and a record low of 4.60 BBL/D/1K in January of 1995. This page provides - Poland Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Morocco remained unchanged at 0.16 BBL/D/1K in December from 0.16 BBL/D/1K in November of 2019. Crude Oil Production in Morocco averaged 0.20 BBL/D/1K from 1994 until 2019, reaching an all time high of 0.40 BBL/D/1K in January of 2001 and a record low of 0.08 BBL/D/1K in January of 1997. This page provides the latest reported value for - Morocco Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Turkey decreased to 58 BBL/D/1K in December from 59 BBL/D/1K in November of 2019. Crude Oil Production in Turkey averaged 51.58 BBL/D/1K from 1994 until 2019, reaching an all time high of 72 BBL/D/1K in February of 1994 and a record low of 38 BBL/D/1K in January of 2007. This page provides - Turkey Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Ukraine decreased to 34 BBL/D/1K in December from 35 BBL/D/1K in November of 2019. Crude Oil Production in Ukraine averaged 50.99 BBL/D/1K from 1994 until 2019, reaching an all time high of 67 BBL/D/1K in January of 2006 and a record low of 26 BBL/D/1K in August of 2017. This page provides - Ukraine Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in the United Kingdom decreased to 1026 BBL/D/1K in December from 1053 BBL/D/1K in November of 2019. Crude Oil Production in the United Kingdom averaged 1610.80 BBL/D/1K from 1973 until 2019, reaching an all time high of 2821 BBL/D/1K in December of 1998 and a record low of 1 BBL/D/1K in January of 1975. This page provides the latest reported value for - United Kingdom Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Myanmar remained unchanged at 10 BBL/D/1K in December from 10 BBL/D/1K in November of 2019. Crude Oil Production in Myanmar averaged 15.52 BBL/D/1K from 1994 until 2019, reaching an all time high of 23 BBL/D/1K in January of 2006 and a record low of 8 BBL/D/1K in January of 1996. This page provides the latest reported value for - Myanmar Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Algeria increased to 1033 BBL/D/1K in March from 1009 BBL/D/1K in February of 2020. Crude Oil Production in Algeria averaged 1171.58 BBL/D/1K from 2000 until 2020, reaching an all time high of 1427 BBL/D/1K in July of 2004 and a record low of 775 BBL/D/1K in February of 2002. This page provides the latest reported value for - Algeria Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Angola increased to 1404 BBL/D/1K in March from 1387 BBL/D/1K in February of 2020. Crude Oil Production in Angola averaged 1291.81 BBL/D/1K from 1994 until 2020, reaching an all time high of 2030 BBL/D/1K in March of 2010 and a record low of 503 BBL/D/1K in March of 1994. This page provides the latest reported value for - Angola Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Iraq remained unchanged at 4500 BBL/D/1K in March from 4500 BBL/D/1K in February of 2020. Crude Oil Production in Iraq averaged 2182.65 BBL/D/1K from 1973 until 2020, reaching an all time high of 4830 BBL/D/1K in December of 2016 and a record low of 0 BBL/D/1K in February of 1991. This page provides the latest reported value for - Iraq Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Mexico increased to 1748 BBL/D/1K in January from 1734 BBL/D/1K in December of 2019. Crude Oil Production in Mexico averaged 2785.52 BBL/D/1K from 1994 until 2020, reaching an all time high of 3547 BBL/D/1K in December of 2003 and a record low of 1647 BBL/D/1K in January of 2019. This page provides the latest reported value for - Mexico Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in China increased to 3923 BBL/D/1K in January from 3782 BBL/D/1K in December of 2019. Crude Oil Production in China averaged 3006.59 BBL/D/1K from 1973 until 2020, reaching an all time high of 4408 BBL/D/1K in June of 2015 and a record low of 1012 BBL/D/1K in February of 1973. This page provides the latest reported value for - China Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Canada decreased to 4575 BBL/D/1K in January from 4630 BBL/D/1K in December of 2019. Crude Oil Production in Canada averaged 2164.12 BBL/D/1K from 1973 until 2020, reaching an all time high of 4630 BBL/D/1K in December of 2019 and a record low of 955 BBL/D/1K in April of 1982. This page provides the latest reported value for - Canada Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Australia decreased to 349 BBL/D/1K in January from 391 BBL/D/1K in December of 2019. Crude Oil Production in Australia averaged 463.41 BBL/D/1K from 1994 until 2020, reaching an all time high of 781 BBL/D/1K in February of 2000 and a record low of 238 BBL/D/1K in May of 2018. This page provides the latest reported value for - Australia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Brazil increased to 3168 BBL/D/1K in January from 3107 BBL/D/1K in December of 2019. Crude Oil Production in Brazil averaged 1712.57 BBL/D/1K from 1994 until 2020, reaching an all time high of 3168 BBL/D/1K in January of 2020 and a record low of 330 BBL/D/1K in May of 1995. This page provides the latest reported value for - Brazil Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in the United States increased to 12833 BBL/D/1K in February from 12744 BBL/D/1K in January of 2020. Crude Oil Production in the United States averaged 7511.92 BBL/D/1K from 1950 until 2020, reaching an all time high of 12879 BBL/D/1K in November of 2019 and a record low of 3971 BBL/D/1K in September of 2008. This page provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Gabon decreased to 190 BBL/D/1K in January from 210 BBL/D/1K in December of 2019. Crude Oil Production in Gabon averaged 263.08 BBL/D/1K from 1994 until 2020, reaching an all time high of 374 BBL/D/1K in August of 1995 and a record low of 180 BBL/D/1K in July of 2018. This page provides the latest reported value for - Gabon Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Romania remained unchanged at 70 BBL/D/1K in December from 70 BBL/D/1K in November of 2019. Crude Oil Production in Romania averaged 103.15 BBL/D/1K from 1994 until 2019, reaching an all time high of 146 BBL/D/1K in February of 1994 and a record low of 70 BBL/D/1K in February of 2018. This page provides - Romania Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Croatia remained unchanged at 13 BBL/D/1K in December from 13 BBL/D/1K in November of 2019. Crude Oil Production in Croatia averaged 19.54 BBL/D/1K from 1994 until 2019, reaching an all time high of 39 BBL/D/1K in February of 1994 and a record low of 10 BBL/D/1K in July of 2014. This page provides the latest reported value for - Croatia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Argentina decreased to 513 BBL/D/1K in January from 517 BBL/D/1K in December of 2019. Crude Oil Production in Argentina averaged 661.73 BBL/D/1K from 1994 until 2020, reaching an all time high of 855 BBL/D/1K in May of 1998 and a record low of 454 BBL/D/1K in April of 2017. This page provides the latest reported value for - Argentina Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Czech Republic increased to 2 BBL/D/1K in December from 1 BBL/D/1K in November of 2019. Crude Oil Production in Czech Republic averaged 3.76 BBL/D/1K from 1994 until 2019, reaching an all time high of 7 BBL/D/1K in December of 2002 and a record low of 1 BBL/D/1K in July of 2019. This page provides - Czech Republic Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Lithuania remained unchanged at 2 BBL/D/1K in December from 2 BBL/D/1K in November of 2019. Crude Oil Production in Lithuania averaged 3.75 BBL/D/1K from 1994 until 2019, reaching an all time high of 9.90 BBL/D/1K in November of 2001 and a record low of 2 BBL/D/1K in January of 2009. This page provides - Lithuania Crude Oil Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.