Phillips 66, OPEC Forecast: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

REFINING
Gulf Coast Refinery Closes Ahead of Tropical Storm Barry - In addition to the evacuation of several offshore rigs in the U.S. Gulf of Mexico ahead of Tropical Storm Barry, Phillips 66 (NYSE:PSX) has closed its 253,600-barrel-per-day refinery in Alliance, Louisiana. (Plant 1017912) (Reuters)

PRODUCTION
OPEC Sees New Oil Surplus in 2020 - A week after OPEC agreed to keep oil production restrained until early next year, the group's first forecasts for 2020 showed it faces an even longer and tougher challenge. OPEC, which pumps 40% of the world's oil, estimated that it's producing about 560,000 barrels a day more than will be needed next year as the ongoing surge in U.S. shale threatens to deliver another surplus. Supplies from the cartel's rivals will grow by more than twice as much as global oil demand, it forecast. (Fuel Fix)

CRUDE OIL
Ukraine Receives First-Ever Barrels of U.S. Oil - Ukraine this month received its first-ever barrels from the United States, as the tanker Wisdom Venture unloaded 80,000 tonnes of Bakken crude in Odessa on July 6. Sources say a similar amount will be delivered later this month. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, eight offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at https://www.industrialinfo.com.