Tag: price
OPEC supply surge has left oil market nursing a hangover: Kemp
OPEC’s overproduction end of 2016 delayed eventual draw down in crude stocks By John Kemp OPEC members have reportedly achieved a high level of compliance with the production cuts announced in Nov. but their efforts to ramp up output ahead of the accord have left the market with a nasty hangover from 2016. Compliance has […]
Chinese policies to support medium-term thermal coal price of US$73/tonne
98% of seaborne thermal market expected to be cash positive According to Wood Mackenzie’s recent report China’s coal policies rescue the thermal coal market, China’s domestic benchmark thermal coal price is sustainable at RMB515/tonne in the medium term. This price level represents the balance in the break-even prices between coal mines and coal-fired power plants […]
OPEC targeting $55/b oil, meeting non-OPEC exporters in Istanbul
Boutarfa had urged his fellow ministers to agree to a 1 million b/d cut below OPEC current production levels OPEC is aiming for an oil price of $55/b, Algerian energy minister Noureddine Boutarfa said Thursday, adding that the producer group could set its output ceiling lower than the tentative deal reached last week, if needed, […]
Oil jumps on talk OPEC may have deal to limit output in Nov.
Iranian Oil Minister Bijan Zanganeh agreed to curb production “at close to 4 million barrels per day” By Barani Krishnan NEW YORK (Reuters) – Oil prices rose more than 2 percent in volatile trade on Wednesday on speculation that OPEC members gathered in Algeria could lay the foundation for a production-limiting deal in November. Crude futures had gyrated after a […]
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