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Middle East crude steady while OPEC keeps market guessing on output cuts

Platts.com, 19th Mar 2019

Middle East sour crude was trading largely steady Tuesday morning in Asia, even as OPEC and its allies were ambiguous on the extension of output cuts at a Joint Ministerial Monitoring Committee meeting Monday..Read More

 

Asian naphtha crack soars above $50/mt to year-to-date high on gasoline strength

Platts.com, 15th Mar 2019

The CFR Japan naphtha crack spread surged above the $50/mt mark Thursday, to hit a year-to-date high of $52.63/mt, shrugging aside the typical second-quarter lull in demand season thanks to the recent uptick in the regional gasoline market, sources said..Read More

 

Crude oil futures trade higher as Falih signals output policy to stay

Platts.com, 11th Mar 2019

Crude oil futures were higher during late morning trade in Asia Monday, after Saudi Arabia's energy minister Khalid al-Falih was reported saying this weekend that OPEC will likely keep its output policy unchanged in a meeting next month..Read More

 

Crude oil futures trade higher as Falih signals output policy to stay

Platts.com, 11th Mar 2019

Crude oil futures were higher during late morning trade in Asia Monday, after Saudi Arabia's energy minister Khalid al-Falih was reported saying this weekend that OPEC will likely keep its output policy unchanged in a meeting next month..Read More

 

Crude oil futures stable as markets await US-China trade developments

Platts.com, 25th Feb 2019

Crude oil futures were largely stable during mid-morning trade in Asia Monday as markets were waiting for latest developments around the US-China trade dispute, while bullish supply side data kept prices supported...Read More

 

Crude oil futures rise ahead of monthly OPEC release; ICE Brent up at $62.58/b, NYMEX WTI $53.21/b

Platts.com, 12th Feb 2019

Crude oil futures rose in the European morning session Tuesday, with various factors lending some support ahead of the release of a monthly report from OPEC...Read More

 

Crude oil futures rangebound after Friday's gains; ICE Brent down to $62.65/b, NYMEX WTI $55.03/b

Platts.com, 4th Feb 2019

Crude oil futures were rangebound in early trade in Europe on Monday....Read More

 

Crude oil futures move up ahead of the US-China trade talk

Platts.com, 7th Jan 2019

Crude oil futures continued to trade higher during mid-morning trade in Asia Monday, continuing on their upward rally seen from last Friday as markets await fresh leads from the resumption of trade talks between US and China....Read More

 

Crude remains lower amid OPEC's indecision on output cuts

Platts.com, 7th Dec 2018

Crude oil futures remained lower during mid-afternoon trade in Asia Friday as no decisions pertaining to OPEC/non-OPEC production cuts were reached following the OPEC meeting on Thursday in Vienna. At 2 pm Singapore time (0600 GMT), ICE February Brent crude futures fell 45 cents/b (0.75%) from Thursday's settle to $59.61/b, while the NYMEX January light sweet crude contract was 38 cents/b (0.74%) lower at $51.11/b. Saudi energy minister Khalid al-Falih said Thursday after the group's meeting ended: "I am not confident of an agreement." Ministers said members continue to haggle over how much output to cut and who should get an exemption....Read More

 

Qatar to withdraw from OPEC Jan 2019: Energy Ministry source confirms to S&P Global Platts

Platts.com, 3rd Dec 2018

Qatar has decided to withdraw from OPEC from January 2019, a source at the country's energy ministry told S&P Global Platts on Monday....Read More

 

Crude oil futures pare back recent gains ahead of G20 summit, OPEC meetings

Platts.com, 27th Nov 2018

Crude oil futures edged lower in mid-morning trade in Asia Tuesday amid supply uncertainty in the lead-up to the G20 summit and OPEC meetings over the next fortnight....Read More

 

Crude oil futures strengthen as market eyes OPEC supply curb; ICE Brent up at $67.25/b, NYMEX WTI $57.14/b

Platts.com, 19th Nov 2018

European crude oil futures kicked off Monday on the upside after tumbling values shook the market last week, buoyed by the prospect of production being reined in by OPEC and its allies next year....Read More

 

Analysis: Middle East crude OSP cuts fail to buoy market sentiment

Platts.com, 9th Nov 2018

Official selling prices issued by producers of Middle East sour crude grades fell largely within trader expectations of reasonable value, oil traders in Asia told S&P Global Platts on Friday...Read More

 

Crude oil futures sink on Saudi output pledge, US stocks expectations; ICE Brent down to $78.58/b, NYMEX WTI $68.44/b

Platts.com, 23rd Oct 2018

Crude oil futures sunk in European trading on Tuesday, as the market weighed pledges from Saudi Arabia to raise output, amid the continuing scandal over the disappearance of Saudi journalist Jamal Khashoggi, alongside expectations of rising crude stocks in the US...Read More

 

Analysis: Crude oil traders in Asia remain uncertain after Saudi official selling price hikes

Platts.com, 11th Oct 2018

Traders of Middle Eastern sour crude barrels in Asia have yet to agree on their reaction to Saudi Aramco's latest set of official selling prices, according to a survey of market participants by S&P Global Platts on Thursday..Read More

 

Crude oil futures rebound after $1/b overnight fall on Saudi comments

Platts.com, 5th Oct 2018

Crude oil futures were higher during mid-morning trade in Asia Friday amid mild bargain-hunting after falling more than $1/b fall overnight, and in response to comments by Saudi Arabia's energy minister on market balance..Read More

 

Crude oil futures stable amid higher US rig count, US-China tension

Platts.com, 17th Sep 2018

Crude oil futures were largely stable in mid-morning trade in Asia Monday as the market digested a higher US rig count and a weekend uptick in trade tensions between the US and China..Read More

 

Crude oil futures higher on US stock draw, hurricane forecasts

Platts.com, 11th Sep 2018

Crude oil futures were stable to higher during mid-morning trade in Asia Tuesday amid expectations that latest US crude stocks data will show a decline and participants monitored geopolitical tensions and developing hurricanes in the US..Read More

 

China imposes 25% tariffs on US oil products

Platts.com, 23rd Aug 2018

China on Thursday implemented tariffs on a second tranche of US goods, targeting oil products and coal for the first time, in retaliation to US tariffs effective the same day and paving the way for crude oil and LNG to be hit next..Read More

 

Crude futures settle higher as Iran supply fears gain further traction

Platts.com, 21st Aug 2018

Oil futures were higher Tuesday as market participants prepared for supply tightness once US sanctions against buyers of Iranian crude cut available barrels on the global market..Read More

 

Asian naphtha physical cracks near three-month low on slow demand, stronger crude

Platts.com, 19th April 2018

The Asian naphtha physical crack spread hovered near three-month low levels on the back of strong underlying crude markers, amid weak buying interest after the market moved into a new trading cycle..Read More

 

Oil markets firm on hopes that US trade spat with China may ease

thehindubusinessline.com, 10th April 2018

Oil markets added to strong gains from the previous session on Tuesday on hopes that a trade dispute between the United States and China could be resolved without greater damage to the global economy. Yet prices remain within recent ranges as oil markets still face an abundance of supplies that puts pressure on producers to keep their prices competitive in order not to lose market share..Read More

 

China data: Jan-Feb apparent oil demand rises 8% to 12.05 mil b/d

Platts.com, 29th Mar 2018 

 

China's apparent oil demand in January-February rose 7.7% year on year to 12.05 million b/d, according to S&P Global Platts calculations Thursday based on the latest official data..Read More

 
China data: Jan-Feb crude throughput rises 7.3% on year to 11.6 mil b/d

Platts.com, 14th Mar 2018 

China's refinery crude throughput rose 7.3% year on year to 93.4 million mt, or an average 11.6 million b/d, over January-February, according to preliminary data released Wednesday by the National Bureau of Statistics..Read More

 

Asia: The week ahead in petrochemicals, w/c Mar 5

Platts.com, 5th Mar 2018 

Asian petrochemical markets ended the week stable to slightly weaker last week, moving in line with the overall trend of falling oil futures..Read More

 

Asian oil products demand to outweigh refinery capacity by 2025: McKinsey

Platts.com, 1st Feb 2018 

Asian demand for oil products will outweigh current and upcoming refinery capacity by 2025, Tushar Tarun Bansal, Director at McKinsey, told attendees at S&P Global Platts annual Middle Distillates Conference in Antwerp Thursday..Read More

 
Asian naphtha cracks at near 5-month low on weaker demand, firmer crude

Platts.com, 18th Jan 2018 

 

The benchmark CFR Japan naphtha crack against ICE Brent futures is hovering at close to a five-month low this week amid faltering demand for both light and heavy grades and strength in underlying crude markers.Read More

 

Analysis: China's refineries expect to consume more feedstock naphtha, LPG

Platts.com, 25th Dec 2017 

China's refineries are expected to consume more feedstock naphtha and LPG with more secondary processing units coming on stream in the future, according to market sources.Read More

 

Refinery news roundup: Low Dec maintenance in Europe, some reduced runs

Platts.com, 18th Dec 2017 

In Europe, refinery maintenance has been drawing to a close around the Amsterdam-Rotterdam-Antwerp hub apart from Pernis, where the end of maintenance has been slightly delayed, according to traders.Read More

 

Brent crude jumped to its highest since June 2015 as a key North Sea pipeline shut down.

Bloomberg.com, 11th Dec 2017 

The Forties Pipeline System, one of the most important oil conduits in the world, is to be fully halted after a crack was discovered, the link’s operator Ineos said. Repairs will take about two weeks, according to a spokesman. The announcement boosted pricing that had been largely muted over the last week following an OPEC-led agreement by major producers to extend output curbs through the end of 2018. Brent rallied in London, pulling New York futures up to near $58 a barrelRead More

 

OPEC homes in on oil cut extension, but doubts remain

Platts.com, 29th Nov 2017 
 
OPEC and Russia will apparently keep the oil market guessing until the last minute before deciding whether to implement an increasingly favored nine-month extension of its existing production cut dealRead More
 
China's oil demand to reach 15.5 million b/d in 2040: IEA

Platts.com, 13th Nov 2017 

Oil demand from China's transportation sector will peak in 2030, and flatten thereafter, mainly due to falling gasoline demand for passenger vehicles that become more efficient and increasingly electricity-driven, the International Energy Agency said in its latest World Energy Outlook report TuesdayRead More

 
Southeast Asia's growing energy deficit to boost trade flows by 2040: IEA

Platts.com, 25th Oct 2017 

Southeast Asia's growing deficit of fossil fuels including oil, natural gas and coal up to 2040 will dictate energy trends for the whole region, including trade flows, investments and policy making, according to the International Energy Agency's latest outlookRead More
 

US shale outlook seen at risk from more intensive fracking

Platts.com, 20th Oct 2017

US shale oil production is unlikely to peak before the middle of next decade, but current fracking techniques may be risking the prospect of faster decline rates from tight oil than many are forecasting, a top oil industry event was told this weekRead More
 

Lack of oil investment could bring shortage, price spike by 2020s

Platts.com, 9th Oct 2017

An oil supply shortage and price spikes of $80-$100/b could hit the global oil market by the 2020s if producers do not fund major projects soon, and rising US tight oil supply will not be able to stop this trend, said Jonathan Chanis, vice president of policy at Securing America's Future EnergyRead More

China's Shandong independent refineries plan to consolidate; analysts skeptical

Platts.com, 4th Sep 2017

Independent refineries holding crude import quotas in China's Shandong province are planning to consolidate into a single corporate entity, a move that would help to optimize their entire value chain, from feedstock purchases to products marketing, which in turn will strengthen their competitive edge. Read More

Analysis: China's record US crude imports to give OPEC more sleepless nights
Platts.com, 27th July 2017 
China's import of US crude oil crossed 1 million mt for the first time in June, an eight-fold rise year on year, as elevated Dubai prices prompted both state and independent refiners to use it as an opportunity to diversify supplies, a trend that could add to the headache of OPEC suppliers. Read More

OPEC June crude oil output 32.49 mil b/d, up 220,000 b/d from May: Platts survey
Platts.com, 6th July 2017

• OPEC almost 600,000 b/d above ceiling, with Equatorial Guinea 

• Rises in Libya, Nigeria, Saudi Arabia more than offset Venezuela drop 

• Saudi output 9.97 mil b/d; Iran at 3.8 mil b/d 

• Libya, Nigeria combined Jan-Jun average 380,000 b/d above Oct 

OPEC's crude oil production has risen 500,000 b/d in the last two months, as the continued recoveries of Nigeria and Libya pushed the bloc's output to 32.49 million b/d, according to the latest S&P Global Platts OPEC survey released July 6.........Read More


Brazil's Petrobras, CNPC in talks on strategic partnership
Platts.com, 4th July 2017
Brazilian state-led oil producer and refiner Petrobras and China National Petroleum Corp. (CNPC) have signed a memorandum of understanding to start talks on a wide-ranging strategic partnership, Petrobras said Tuesday Read More

Analysis: Rising US crude oil exports complicate rebalancing efforts
Platts.com, 16th June 2017
One reason for the bearish narrative gripping the oil market of late has been that draws in US crude stocks have essentially come at the expense of the rest of the world. Read More

China's May crude oil imports soar on increased buying by state-owned refiners
Platts.com, 9th June 2017
Buying by state-owned refiners pushed up China's crude oil imports in May 15.4% year on year to 37.2 million mt, or 8.8 million b/d, but analysts said they expected crude inflows to ease in June due to high stocks. Read More

Analysis: OPEC/non-OPEC deal unlikely to alter crude strategy for Asia
Platts.com, 30th May 2017
The deal by OPEC and non-OPEC countries to extend output cuts is unlikely to lead to any fall in crude inflows into Asia from the region's main suppliers, who will ensure they keep their key markets well supplied as they strive to maintain market share and limit the prospect of the region being flooded with arbitrage cargoes. Read More

Prices tumble but OPEC/non-OPEC oil producers seek to maintain grip on fundamentals
Platts.com, 25th May 2017

 

Platts.com, 25th May 2017

•Market sells off after OPEC teased longer, deeper cuts

•Ministers say not to read into lack of exit strategy

•Dismiss bullish projections for US shale growth

Key oil producers led by OPEC sought to reassure a skeptical market Thursday after announcing a gentler extension of their output cut agreement than they had earlier teased, while downplaying the boon-canceling potential of their free-market rivals, especially US shale.Read More

Analysis: As prices fall, OPEC looks to Q3 for optimism
Platts.com, 5th May 2017
The price swoon of the last few weeks has no doubt disappointed -- if not frustrated -- OPEC's 13 members, who have seen their efforts to cut production to support prices seemingly thwarted by stubbornly high inventories. Read More

Analysis: China's crude imports reach new high as independents step up buying
Platts.com, 18th Apr 2017
China imported record high volumes of crude oil in March at 9.21 million b/d as independent refiners stepped up buying to meet their quota allocations and oil companies generally bought more in anticipation of higher prices later in the year Read More

China data: March crude throughput rises 6% on year to 11.23 mil b/d
Platts.com, 17th Apr 2017
China's crude refinery throughput in March rose 5.9% year on year to 47.5 million mt, or an average of 11.23 million b/d, preliminary data released Monday by the National Bureau of Statistics showed. Read More

OPEC Deal Extension Looks Shaky As Shale Hedges Production
oilprice.com, 5th Apr 2017
The first statement from the joint committee of ministers from OPEC and non-OPEC oil producers reported "a high level of conformity and recommends six-month extension (of the voluntary oil production cut)." Great news – very clear – got it. Read More

China likely to keep oil product exports steady to lower in H1 2017: sources
Platts.com, 30th Mar 2017
China is highly likely to restrict oil product exports in the first half of 2017 to flat or below H1 2016 levels amid growing focus on pollution control, curbing excess capacity and international trade flows, sources with knowledge of the matter said this week. Read More

Analysis: Chinese independent refiners' crude oil imports set to slow on quota issues
Platts.com, 21st Mar 2017
Crude imports by China's independent refiners are expected to slow down in the coming months as several refiners have used up most of their allocation from the first round of import quotas and will need to wait until June for the second round before resuming purchases. Read More

East/west naphtha spread narrows to two-month low on lengthening Asian supply
Platts.com, 9th Mar 2017
The east/west naphtha spread narrowed to a two-and-a-half month low Wednesday as the Asian naphtha market softened on larger-than-expected inbound supply, despite healthy local demand Read More

China Jan crude oil imports at 34.03 mil mt, down from Dec's record
Platts.com, 13th Feb 2017
China's crude oil imports and oil product exports in January retreated from fresh highs in December, but were still higher from the same month last year, according to preliminary data Friday from the General Administration of Customs. Read More

NWE naphtha backwardation at 21-month high on buoyant petrochemical demand
Platts.com, 1st Feb 2017
The front-month/second-month CIF Northwest Europe naphtha swap backwardation hit its highest in 21 months as the front of the market strengthened, boosted by strong demand from petrochemical end-users due to high cracking margins and expensive LPG. Read More

Analysis: Asia's unquenchable thirst for oil to outpace 2017 refining growth
Platts.com, 20th Jan 2017
Asia is gearing up to witness new refining capacity growth in at least four countries in 2017, but capacity reductions in some top consuming nations will pull down the net addition to a level that would be lower than the anticipated demand growth the region is likely to see this year. Read More

'Significant' oil supply-demand gap possible in three to four years: IEA's Birol
Platts.com, 13th Jan 2017
Oil price volatility is here to stay, notwithstanding recent producer pledges of output cuts aimed at calming the international market, the executive director of the International Energy Agency said Friday. Read More

Investors Betting on Oil Price Drop Flee as Production Cuts Near
Bloomberg, 24th Dec 2016
Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market. Read More

Goldman Sachs raises 2017 oil price forecast on compliance rethink

 

Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market Goldman Sachs raised Friday its oil price forecasts for 2017 after reassessing the likelihood that key global oil producers, led by Saudi Arabia, will stick to output cut pledges under OPEC's efforts to clear the oil market glut. Read More

Crude futures surge more than 4% after non-OPEC producers agree to 558,000 b/d cut
Platts.com, 11th Dec 2016
Crude oil futures surged more than 4% in mid-morning trade in Asia Monday, after non-OPEC producers agreed to cut output by 558,000 b/d following a historic meeting with OPEC members in Vienna over the weekend. Read More

OPEC reaches output deal to hasten market rebalancing
Platts.com, 30th Nov 2016

* OPEC market share to increase by 2040

* Middle East members will see largest gains

* IEA assumes OPEC return to market manager role 

* Producer group to cut 1.2 million b/d from January

* Saudi Arabia takes 486,000 b/d hit, Iran can raise output

* OPEC seeks 600,000 b/d reduction from non-OPEC producers

Setting aside geopolitical rivalries, OPEC members emerged from their formal meeting Wednesday with a deal that would freeze the group's collective output at 32.5 million b/d to speed the market's rebalancing and boost producer coffers................... Read More

 

OPEC Discord Sends Oil Prices Lower
wsj.com, 28th Nov 2016
Crude-oil futures fell Tuesday in Asia due to growing doubts that the world's biggest oil producers would reach a deal to cut global output. Read More

Global oil market to become more dependent on OPEC crude in long-term, IEA projects
Platts.com, 17th Nov 2016
OPEC's diverse 14-country membership has responded to the oil price malaise of the past two years in contrasting ways, perhaps permanently altering the group's dynamics as the world becomes more reliant on its crude in the long-term, according to the International Energy Agency. Read More

Oil pinned near three-month lows as gloom grows over OPEC


 
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