The US Environmental Protection Agency proposed renewable fuel obligations for 2018 that generally are lower than quotas it previously adopted for 2017. The proposed volumes reflect market realities focused on actual production and consumer demand while recognizing challenges in bringing advanced biofuels to the marketplace, Administrator E. Scott Pruitt said. Source: News

The Canadian Association of Petroleum Producers proposes that the Alberta government and oil and gas industry create a committee to streamline regulation and revitalize investment. Source: News

The Organization of Petroleum Exporting Countries produced 32.49 million b/d in June—an increase of 220,000 b/d from May and representing a 6-month high, according to the most recent survey data from S&P Global Platts. Source: News

Total E&P Norge AS said an accident at a South Korean shipyard will delay the shipping of Martin Linge platform modules to Norway. Consequently, production at Martin Linge field in the Norwegian North Sea has been delayed from 2017 to 2018. Source: News

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 6.3 million bbl during the week ended June 30 compared with the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report. Source: News

Statoil ASA and partners have decided to develop the 2015 Snefrid Nord natural gas discovery near Aasta Hansteen field in the Norwegian Sea. Source: News

Light, sweet crude oil prices for August and September each fell by nearly $2/bbl on July 5, breaking an eight-session gaining streak as traders returned to work after the US Independence Day holiday. It was the largest single-day drop in a month. Previously, the US oil benchmark was up 11% over the 8 consecutive trading […]