Link

Your Weekly Update: 31 December 2018 - 4 January 2019


  • The market swang from balanced supply/demand to a supply crunch to a glut – dealing with American sanctions on Iranian crude exports, surging American crude oil production, the implosion of Venezuela's economy and signs that the global economy might be entering a slowdown.
  • Sometime in the first quarter, American crude oil production will hit 12 mmb/d, cementing its position as the world's largest oil producer as Saudi Arabia and Russia cut back output as part of the OPEC+ supply deal.
  • Perhaps for petrochemical use, but refining demand will increasingly be geared toward medium and heavier grades to be cracked by upgraded refineries into gasoil ahead of the IMO's new rules of fuel oil and sulfur levels rolling out in 2020Quarter 4 2019 – Depending on market conditions, American crude production could be on the cusp of hitting 13 mmb/d – presenting yet another problem as OPEC meets in December.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit original link

https://nrgedge.net/article/1546490125-your-weekly...

Oiloil and gas newsOil and Gas IndustryLNGoil and gas companiesnewsweekly updatemarket watchmarket trendslatest oil and gas trends

More items from huishan


The State of the Industry: Q2 2020 Financial Performance

It is, obviously, unsurprising that the recently released Q2 financials for the oil & gas supermajors contained distressed numbers as the first full quarter of Covid-19 impact washed over the entire industry. To make this change, Looney is looking to shrink BP's oil and gas output by 40% through ...

Hui Shan


Posted 22 hours agoLink > SupermajorShellTotal +13

Suriname’s Mega Discovery

US independent Apache announced it had made a ‘significant oil discovery' at the Maka-Central 1 well, the first suggestion that the Cretaceous oil formation in Guyana extended southeast to Suriname. For now, Staatsolie is looking to gain rights to 10-20% of any oil discovery within Suriname, but ...

Hui Shan


Posted 8 days agoLink > GuyanaExxonMobilStaebroek +4

Key Upstream Positive Developments Since April 2020

Noble will also bring with it established positions in the Eagle Ford basin, significant US midstream assets and upstream assets in Israel and Equatorial Guinea, swelling Chevron's proven oil and gas reserves by 18%. Neptune Energy hit oil at the Dugong well in the Norwegian North Sea, and China' ...

Hui Shan


Posted 13 days agoLink > OPECRussiaoil price +5

2019 U.S. coal production falls to its lowest level since 1978

Noble will also bring with it established positions in the Eagle Ford basin, significant US midstream assets and upstream assets in Israel and Equatorial Guinea, swelling Chevron's proven oil and gas reserves by 18%. Neptune Energy hit oil at the Dugong well in the Norwegian North Sea, and China' ...

Hui Shan


Posted 13 days agoLink > ProductionsupplyCoal +4

Financial Review: First-Quarter 2020

With just over two weeks to go before the largest coordinated crude oil supply cut in the world is set to expire, the 23-nation club that is OPEC+ gathered to discuss that very issue. OPEC itself predicts that world oil demand by rebound by 7 mmb/d in 2021 from an average of 90 mmb/d in 2020, wit ...

Hui Shan


Posted 20 days agoLink > MarketFinancefinancial review +6
All posts from huishan