Global Oil Market Weekly Highlights

SHALE OIL
Spotlight on Permian Basin: slower growth, market pressures and geopolitics at play.
The US EIA projects that crude production in the Permian Basin will reach 6.6MM b/d by 2025, reflecting a growth rate of 3.6% in that year.
October 20, 2024
REFINERY THROUGHPUTS
Implications of Phillips 66's closure of Los Angeles refinery on California's fuel market.
US major independent refiner has confirmed it will close its Wilmington, California refinery, with a capacity of 139K b/d, by the fourth quarter of 2025.
October 20, 2024
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