Weekend Summary

Compiled by the FUELSNews Editorial Team

Have an article worth sharing? Send it to FUELSNews@mansfieldoil.com, and we’ll share it next week in our Weekly Summary segment.

Diesel and the Future of Trucking

With the rise of alternative fuel technology, diesel engines are more important than ever. Engine efficiency continues improving, reducing emissions and allowing trucks to go further with every gallon. Compared to older trucks, modern engines earn $2,640 in cost savings each year. Click Here to read more from Commercial Fuel Buyer.

Why Big Oil is Slowly Turning Green

Oil and gas companies are making the switch to greener technologies, despite decreasing political pressures on environmental issues. New technologies and consumer demands are forcing fossil fuel companies to look at alternative energies. Around the world, oil majors are diversifying to renewable energy and natural gas, away from crude oil. While oil’s days are far from over, trends are towards more alternatives and choices for consumers.

The Arctic Threat to the Price of Oil

Despite pledged output cuts, Russia may soon be increasing its oil production. More and more of the country’s crude oil is coming from Arctic export hubs. Newer projects are the easiest to shut down to remain in compliance, but they are also often the most profitable. New drilling in the Artic will force other production areas to slow down their production, which may be harder said than done. It’s possible that oil producers throughout Russia will grow restless and continue producing, leading Russia to overshoot its production agreement.

More U.S. Oil Export Capacity in the Works

Enterprise Products Partners is converting a natural gas line to a crude oil line, allowing more oil to be brought from Permian oil fields into Houston. From there, the crude can either be refined into diesel/gasoline or exported oversees. With U.S. exports rising, this change should help to narrow the price gap between U.S. WTI crude oil and international Brent prices.