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Danish and Turkish Straits critical to Europe’s crude oil, petroleum trade

Danish and Turkish Straits critical to Europe’s crude oil, petroleum trade

2.4 million b/d of crude oil, petroleum products flowed through Turkish Straits in 2016 The Danish Straits and Turkish Straits – together transited by a combined volume of more than 5 million barrels per day (b/d) in 2016 – are important chokepoints for Europe’s crude oil and petroleum liquids supply, according to the US Energy […]

By August 18, 2017 0 Comments Read More →
Oklahoma STACK break-even costs under $30/b, closing in on vaunted Permian – IHS Markit

Oklahoma STACK break-even costs under $30/b, closing in on vaunted Permian – IHS Markit

Peak per-lateral foot productivity in the STACK closing in on Permian Despite the fact that the Oklahoma STACK oil and gas play is still evolving and its total potential is undetermined, evidence thus far indicates the play is delivering impressive results, leading operators to commit significant 2017 CAPEX to its development, according to new analysis […]

By August 18, 2017 0 Comments Read More →
Lower OPEC compliance rates are muddying global oil rebalance – IEA

Lower OPEC compliance rates are muddying global oil rebalance – IEA

Global oil demand growing faster than expected, latest IEA estimate for 2017 raised to 1.5 million b/d The re-balancing of the oil market desired by the leading producers has been a stubborn process and it takes time for the numbers to confirm what many observers instinctively feel has already happened, according to the International Energy […]

By August 17, 2017 0 Comments Read More →
Oil prices fall despite drop in US crude stocks

Oil prices fall despite drop in US crude stocks

Largest draw in crude stocks in nearly a year Oil prices fell in seesaw trading on Wednesday, despite a larger-than-expected drop in US crude stocks reported by the US Energy Information Administration. Brent crude was down by 13 cents to $50.67/barrel by 1:14 p.m. EDT after trading as high as $51.40 earlier in the day […]

By August 16, 2017 0 Comments Read More →
Merkel reaffirms pledge to speed up German transition to EVs

Merkel reaffirms pledge to speed up German transition to EVs

Merkel vows target of 1 million EVs will be met On Wednesday, German Chancellor Angela Merkel vowed to speed up her country’s transition to electric vehicles, adding increased efforts would be needed to meet the target of 1 million EVs on German roads by 2020. Her comments came during an online interview with four social […]

By August 16, 2017 0 Comments Read More →
Global gas and LNG market tightening after 2022, new LNG investment needed – IEA

Global gas and LNG market tightening after 2022, new LNG investment needed – IEA

Gas and LNG demand driven by growth in the East In the latest update of IEA’s outlook, they dive deep into the discontinuities that could swing the gas markets one way or another, according to the International Energy Agency. In China, the extent to which government targets on gas consumption are met could mean a […]

By August 16, 2017 0 Comments Read More →
Column: Goodbye contango? Oil’s long march towards backwardation

Column: Goodbye contango? Oil’s long march towards backwardation

Prompt discounts for Brent and WTI have been narrowing since January 2016 By John Kemp LONDON, Aug 16 (Reuters) – “The rebalancing of the oil market desired by the leading producers has been a stubborn process,” the International Energy Agency wrote in its latest monthly oil market report. The agency’s evident frustration about the slow and uneven […]

By August 16, 2017 0 Comments Read More →
Petronas expects LNG market to remain oversupplied until 2023

Petronas expects LNG market to remain oversupplied until 2023

LNG market swamped by US, Australian production The chief executive of Malaysia’s state-owned energy company, Petronas, says he expects the global LNG market to remain oversupplied until as late as 2023. With increased supply from Australia and the United States, prices have fallen; Asian spot LNG prices are now down by about 70 per cent […]

By August 15, 2017 0 Comments Read More →
Column: Hedge funds gamble for a third time on oil rebalancing

Column: Hedge funds gamble for a third time on oil rebalancing

Hedge funds managers hopeful, but cautious By John Kemp LONDON, Aug 14 – “If at first you don’t succeed, try, try, try again,” goes the proverb used to encourage students. Hedge fund managers are becoming bullish towards crude oil and refined fuels for the third time this year and must be hoping the signs of […]

By August 14, 2017 0 Comments Read More →
Coal falls as gas rises: World energy balances in 2016 – IEA

Coal falls as gas rises: World energy balances in 2016 – IEA

Oil remains most used fuel (mainly for transport), then coal (mainly for electricity) Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in World Energy Balances, the IEA’s comprehensive picture of energy statistics. These data are drawn from official national data submissions to […]

By August 11, 2017 0 Comments Read More →