Oil prices dropped yesterday and today as the market rapidly stripped out its Iran war premium, Petros Pantzari, Chief Dealer at Monaxa, said in a statement sent to Rigzone on Tuesday.
Imports of Venezuelan crude oil into the Gulf Coast have sharply risen in the months since the U.S. took control of Venezuela’s oil industry, giving Texas oil refiners a boost during the historic energy supply shock triggered by the Iran war.
Curious Minds Corner
What is a “field” in oil and gas terminology?
A geographic area containing one or more reservoirs of hydrocarbons.