November 2019
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IMO 2020 Market Challenges and Mexico

This article was written for and published by OPIS in their Fuels in Mexico November 2019 Issue. The new IMO 2020 Regulation reduces sulfur emissions from marine vessels. As a result, the demand for high sulfur fuels will decline while the demand for low sulfur, or compliant fuels increases. The inability of Mexican refineries to upgrade high sulfur residual fuels leaves them in the unenviable position of producing a less valuable product. This article discusses the impact of the IMO regulation on the Mexican crude oil production and refining industry.

September 2017
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The Gulf Coast Boom

This article was written for and first published in the Greater Houston Port Bureau Magazine. With rising crude oil production in the United States coupled with the elimination of the crude oil export ban in late 2015, pipeline and terminal infrastructure investment along the Texas Gulf Coast has increased. This article discusses those investments in Corpus Christi/Ingleside, Houston/Texas City and the Beaumont Port Arthur areas.

August 2017
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Why I’m Bullish the Oil Markets

In spite of all the bearish news in the market at the time, this article, written for and published on details the reasons why the oil market was poised for a rally.

August 2016
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The Oil Market is stuck in a Groundhog Day Trap

This article regarding crude oil prices was written for and published on

July 2016
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Keeping the US Crude Oil Exports Flowing

This article was written for and first published in Tank Storage Magazine. This article discusses the initial developments of pipeline and terminal infrastructure along the Gulf Coast in response to the lifting of the crude oil export ban in December 2015.

RINs White Paper

The Energy Independence and Security Act of 2007 is also known as the Renewable Fuel Standard Number 2. This legislation required the oil industry to use ever increasing amounts of renewable fuels. Compliance is demonstrated with the use of Renewable Identification Numbers or RINs which can be bought and sold. RIN prices had seen significant volatility since 2013 and the market was trying to get a handle on how many RINs were actually available. This white paper discusses two of the lesser known but important issues regarding meeting compliance. The first is what happens if the EPA under estimates gasoline and diesel demand. The second is how the use of ultra low sulfur diesel in ocean going vessels can impact the RIN balance.

February 2015
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Explaining the Oil Price Plummet

This article was written for and first published in Tank Storage Magazine. After oil prices had steadily been increasing to over $100 per barrel in 2014, they crashed to less than $40 in 2015 shaking the oil industry. An analysis of the reasons behind the oil price crash and it impact on the tank storage market is covered in this article.

December 2012
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Are the Crude Oil Benchmarks Broken

As the Brent to WTI relationship changed 2008 to 2012, the market was trying to decide whether or not the existing crude oil price benchmark was broken. This white paper, written in 2012 discusses the WTI ad Brent contracts and how they are similar and different. The paper also looks at the Dated Brent Market Price Assessment and an over the counter swap known as the Contract for Differences.

November 2015
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Is Oil ready for a Rebound?

This article discussing crude oil prices and a potential rebound was written for and published on

January 2012
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How the Oil Market Works

This report tries to explain how the oil market works in a simple and brief manner. However the reader should be aware that the oil market is quite complex, no one statement can cover all the cases and instances of oil trading. With crude oil and gasoline prices rising to record levels in 2008 and the potential for new records to be set in the future, it is reasonable to assume that questions arise as to how crude and product prices are ultimately established.

November 2011
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Tank Storage: Cheery Traders Turn Teary

This article was written for and published by Tank Storage Magazine. As the crude oil and petroleum product market structure turned from contango to backwardation, traders found themselves with costly tankage weighing down their profitability. With a reluctance to take on as much tankage under lease, the storage operators are seeing rates come under pressure.

April 2010
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Oil Market Trends and Their Impact on Terminals

From April 2008 to April 2010, the crude oil market had seen its share of price volatility. From nearly $150 in April 2008, prices plummeted to almost $50 by July 2009 and then reversed course back to $80 by April 2010. The crude oil market made the Coney Island rollercoaster look boring.

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