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2016-12-16 18:40:00

OPEC CUTS OIL

OPEC CUTS OIL

PLATTS - Japanese refiners have received notices of crude supply cuts from "some producers" for January loading, following OPEC's November 30 decision to cut production, Petroleum Association of Japan President Yasushi Kimura said Thursday.

"It is true that we have received notices from some producers about reducing crude loadings from January," Kimura told a press conference in Tokyo.

But Kimura added that Japanese refiners were not under immediate pressure to seek alternative crudes.

Kimura is also chairman of JX Holdings, the parent of largest Japanese refiner JX Nippon Oil & Energy.

OPEC on November 30 agreed to cut production by around 1.2 million b/d to 32.5 million b/d from January 1, 2017.

This was followed by a commitment from 11 non-OPEC producers on December 10 to cut production by a combined 558,000 b/d, also from January 1.

-----

Earlier:

OPEC: 

OPEC OIL RECORD: 33.86 MBD 

OPEC - RUSSIA DEAL 

OPEC PRODUCTION TARGET 32.5 MBD 

OPEC WILL CUT 1.2 MBD 

OPEC'S CAUTIOUS OPTIMISM

 

JAPAN: 

NOVATEK EXPECTS JAPAN 

JAPAN NEEDS MORE OIL 

THE LARGEST LNG IMPORTERS 

ASIAN LNG IMPORTS UP 

VIETNAM & JAPAN LNG

 

 

Tags: OPEC, OIL, PRODUCTION, JAPAN
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Chronicle:

OPEC CUTS OIL
2018, October, 15, 12:01:00

GAZPROM - SHELL: BALTIC LNG

GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).

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2018, October, 12, 11:40:00

OIL PRICE: NEAR $81

REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.

OPEC CUTS OIL
2018, October, 12, 11:35:00

OIL PRICES 2018 - 19: $74 - $75

EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.

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