All publications by tag «OIL»
2015, November, 15, 14:05:00
OIL TRAFFIC JAM
The cost to hire a supertanker - each capable of carrying 2 million barrels of oil - recently hit its highest level since 2008 at over $100,000 a day last month and currently remains at over $70,000 a day.
2015, November, 12, 19:50:00
IRAQI OIL TO U.S.
Tankers carrying nearly 20 million barrels of Iraqi oil are due to sail to the United States in November, almost 40 percent above the amount booked to arrive in October. At an average rate of more than 660,000 barrels per day (bpd), it would be the largest monthly import since mid-2012, according to U.S. data.
2015, November, 12, 19:45:00
ALTERNATIVE IRANIAN OIL
Saudi Arabia has started shipping crude to traditional Russian markets like Poland and Sweden, but supplies to Europe from the world’s largest exporter won’t increase by enough to reduce prices. In contrast, a surge in Iranian exports after the lifting of sanctions could erode the value of Russian shipments to the region as soon as next year.
2015, November, 12, 19:40:00
CHEVRON WILL CUT 1,000
Chevron Corp. is planning to lay off up to 1,000 employees working in the neutral zone between Saudi Arabia and Kuwait, as a dispute between those countries has halted all work on oil fields for several months, according to people familiar with the matter.
2015, November, 11, 20:00:00
OIL PRICES 2020: $80
The process of adjustment in the oil market is rarely a smooth one, but, in central
scenario, the market rebalances at $80/bbl in 2020, with further increases in price
thereafter.
2015, November, 11, 19:55:00
OIL PRICES 2016: $56
EIA forecasts that Brent crude oil prices will average $54/b in 2015 and $56/b in 2016. The 2015 forecast price is unchanged from last month's STEO, and the 2016 forecast price is $2/b lower. Forecast West Texas Intermediate (WTI) crude oil prices average $4/b lower than the Brent price in 2015 and $5/b lower in 2016. The current values of futures and options contracts for February 2016 delivery (Market Prices and Uncertainty Report) suggest the market expects WTI prices to range from $35/b to $66/b (at the 95% confidence interval) in February 2016.
2015, November, 11, 19:50:00
U.S. OIL DOWN 118,000 BPD
Crude oil production in December from seven major US shale plays is expected to drop 118,000 b/d to 4.95 million b/d.
2015, November, 11, 19:40:00
OPEC WILL RISE
OPEC’s share of the global oil market will expand from 2020 as prices recover to $80 and supply outside the group stagnates due to spending cuts, according to the International Energy Agency.
2015, November, 9, 20:00:00
ROBUST MARKET FUNDAMENTALS
Long-term oil market fundamentals remain robust but prolonged low prices could threaten security of supply and pave the way for a price spike, Saudi Arabia's vice oil minister said
2015, November, 9, 19:55:00
OIL CUTS $200 BLN
The oil and gas industry has cut $200 billion from investments this year as low prices discourage new projects, leading to cuts in crude supplies equal to half the daily output of Saudi Arabia, according to the kingdom’s Prince Abdul Aziz bin Salman.