Brent


All posts for Brent

Currency appreciation makes crude oil less expensive for some oil importers

Just right now, Total has readied the Odfjell DeepSea Stavanger drill rig in the turbulent waters off South Africa, ready to spud a new wildcat in the offshore Block 11B/12B. And if Luiperd-1 meets expectations, it will be more than just success for Total, it will turn South Africa's upstream jou ...

Hui Shan


Posted 2 months agoLink > exportsImportsBrent +6

SHORT-TERM ENERGY OUTLOOK

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 2 months agoLink > STEOForecastCovid 19 +14

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 3 months agoLink > MarketFinancefinancial review +6

Financial Review: 2019

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan


Posted 5 months agoLink > Financemarketsfinancial review +5

From Certain Doom To Cautious Optimism

A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. This was seen as ...

Hui Shan


Posted 5 months agoLink > WTIWest Texas IntermediateBrent +8

SHORT-TERM ENERGY OUTLOOK

From March 16 to May 4, the average regular retail price of gasoline in the West Coast (Petroleum Administration for Defense District, or PADD, 5) fell $0.58/gal to $2.44/gal, the lowest price since March 2016. Although the May 4, 2020, West Coast gasoline price is $0.65/gal higher than the U.S. ...

Hui Shan


Posted 5 months agoLink > nrgedgeSTEOshort term energy outlook +9

The WTI Oil Price Crash Explained

And now, unprecedented oil prices, as the WTI crude price marker slipped into negative territory for the first time ever. This had the same effect, though different contributing factors  in 2019, when WTI prices were depressed because demand was high but pipeline capacity was insufficient to carr ...

Hui Shan


Posted 6 months agoLink > WTIWest Texas IntermediateBrent +7

This Week in Petroleum

Changing nature of non-OPEC supply types may be affecting the crude oil futures marketChanges in the oil investment and production cycle may be affecting trading dynamics for West Texas Intermediate (WTI) and Brent crude oil futures contracts. Similar research from the U.S. Commodity Futures Trad ...

Hui Shan


Posted 11 months agoLink > BrazilBrentCrude oil +11

This Week in Petroleum: Saudi Arabia crude oil production outage will affect global oil markets and U.S. gasoline prices

Crude oil markets will certainly continue to react to new information as it becomes available in the days and weeks ahead, but this disruption and the resulting changes in global crude oil prices will influence U.S. retail gasoline prices. Saudi Arabia can use these inventories to maintain a simi ...

Hui Shan


Posted 1 year agoLink > BrentCrude oilexports +7

SHORT-TERM ENERGY OUTLOOK

Facing a tough situation where shale oil prices are depressed due to a lack of infrastructure to send them to the US Gulf Coast for processing and export, independent US shale drillers are facing financial pressure as loans are no longer handed out like candy and investors are demanding results. ...

Hui Shan


Posted 1 year agoLink > ElectricityrenewableCoal +10

A New Frontier for LNG Pricing and Contracts

As the world's demand for LNG continues to grow, the world's largest LNG supplier (Shell) has inked an innovative new deal with one of the world's largest LNG buyers (Tokyo Gas), including a coal pricing formula link for the first time in a large-scale LNG contract. Both parties have named the de ...

Hui Shan


Posted 1 year agoLink > JapanCoalLNG +6

Crude Oil Prices: Changing Gear

Russia and Saudi Arabia both making new pledges on supply cuts comes despite supply issues elsewhere in OPEC, which could have provided some cushion for smaller cuts. Iranian production remains constrained by new American sanctions; targeted waivers have provided some relief – and indeed Iranian ...

Hui Shan


Posted 1 year agoLink > CrudeOil pricesBrent +5

CNOOC’s Capital Plans

After President Xi Jinping called for greater self-reliance and improving national security by boosting domestic reserves in August, the national upstream company CNOOC has now unveiled ambitious plans to boost capital spending with an eye to raise its production. Encompassing both domestic and i ...

Hui Shan


Posted 1 year agoLink > CrudeOil pricesBrent +3

Key Milestones in 2019 for Oil Prices

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 q ...

Hui Shan


Posted 1 year agoLink > CrudeOil pricesBrent +5

Is the US a Net Crude Oil Exporter?

The comparison of those two net trade numbers could be construed that the US has became a net exporter of 0.2 mmb/d of crude and finished products for the week. For any other direction, the US is still a net importer of 4 mmb/d of crude oil or in a net deficit of oil supply by 1.9 mmb/d. But mis ...

Hui Shan


Posted 1 year agoLink > CrudeOil pricesBrent +5