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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

reuters.com, 14th Nov 2016

Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that OPEC will reach a deal to cut output.................... Read More


Analysis: US crude exports hit record in September

Platts.com, 4th Nov 2016 

US crude exports rose 35,000 b/d to a record 692,000 b/d in September after Brent's premium to WTI widened, an analysis of Census Bureau data released Friday showed..................... Read More


Asia naphtha crack hits 6-month high on improved demand, short covering

Platts.com, 23rd Oct 2016

Asian naphtha crack spreads soared to a six-month high and spot price differentials improved Friday amid rebounding demand stirred by the conclusion of the cracker maintenance season, a healthy gasoline blending market as well as short covering and hedging for CFR term cargoes, traders said..................... Read More


OPEC says it pumped 33.39 mil b/d in Sep, up 220,100 b/d from Aug

Platts.com, 12th Oct 2016 

OPEC's two largest oil producers Saudi Arabia and Iraq told the oil producer group that their production continued to be at elevated levels, helping the organization's output to rise sharply in September, according to OPEC's monthly oil market report Wednesday..................... Read More



Factbox: Asia Q4 oil products outlook and factors to watch

Platts.com, 10th Oct 2016

The Asian oil products market is heading into the fourth quarter, with gasoline, naphtha and jet/kerosene expecting some downward pressure, while LPG and fuel oil are hoping to see some recovery..................... Read More



OPEC Agrees to First Oil Output Cut in Eight Years

Bloomberg.com, 29th Sep 2016 
Oil club to cut output to as low as 32.5 million barrels a day

Deal indicates Saudi Arabia and Iran resolved some differences

OPEC agreed to the outline of a deal that will cut production for the first time in eight years, surprising traders who had expected a continuation of the pump-at-will policy the group adopted in 2014 at the instigation of Saudi Arabia..................... Read More


Chinese propane imports to rise in Q4 on startup of two PDH plants

Platts.com, 21st Sep 2016 

Chinese propane imports are likely to climb faster in the fourth quarter, thanks to the expected startup of two new propane dehydrogenation plants, giving a much-needed boost to the recovering LPG market in Asia, sources said Wednesday...................... Read More


IEA backtracks on oil market rebalancing forecast

Platts.com, 13th Sep 2016
* No market balance before second half 2017

* OPEC output surging as summer demand sags

* US tight oil to decline "for months" 

The International Energy Agency on Tuesday pushed back its expectations of the global oil market finding balance to beyond the first half of next year, saying it expects demand to grow by just 830,000 b/d in the current quarter and 1.3 million b/d this year...................... Read More


APPEC 2016: Asia to look beyond the Middle East for its marginal barrels

 Platts.com, 8th Sep 2016 

* Delegates optimistic about growth in Asian demand

* Asia will struggle to raise its crude production

* The region's willingness to diversify will boost competition 

Asia's dependency on imported crude oil is set to grow in coming years and while the Middle East will remain the largest supplier, the marginal barrel will increasingly come from other regions, intensifying the battle for market share, oil industry executives said this week at the S&P Global Platts Asia Pacific Petroleum Conference 2016...................... Read More


Analysis: After brief resurgence, China's oil demand falters yet again

Platts.com, 2nd Sep 2016

China's oil demand fell to 11-month lows in July on the back of erratic weather and feeble industrial growth, crushing hopes of a recovery in consumption which the market had expected after the country in June pulled itself out of the red for the first time in many months...................... Read More


EIA: OPEC Oil Revenue To Drop For Second Consecutive Year

Bloomberg.com, 26th August 2016 

U.S. shale players aren’t the only ones suffering declining revenues and low commodity prices that just can’t seem to climb above $50/bbl and stay there...................... Read More


Oil Production in U.S. Proves Resilient as Forecast Increases

Bloomberg.com, 9th August 2016 

Oil producers in the U.S. are proving more resistant to low prices.

The Energy Information Administration increased its domestic output forecast for 2017 to 8.31 million barrels a day from 8.2 million projected in July, according to its monthly Short-Term Energy Outlook released Tuesday. Global oil supply will fall short of consumption by an average 170,000 barrels a day next year, compared with a 10,000-barrel surplus in July’s outlook...................... Read More


Middle East companies roll over region's polymer prices for August

Platts.com, 5th August 2016 

Most Middle East petrochemical companies have nominated their polymers contract prices for August at unchanged levels from July, trade sources said Thursday....................... Read More


NWE naphtha cargoes slump to 20-month low versus swap on thin spot buying

Platts.com, 5th August 2016 

CIF Northwest European naphtha cargoes dropped to a 20-month low to the front-month swap Thursday as spot buying was scarce amid ample supply, with more naphtha cargoes expected to come from the Mediterranean to NWE in August due to the closed arbitrage to Asia....................... Read More


Analysis: After a long slide, China's oil demand shows signs of steadying

Platts.com, 2nd Aug 2016 

* June oil demand up 4% on month to 11.32 mil b/d
* Gasoil demand recovers from 70-month lows in May
* Platts expects 2016 oil demand growth below 1% 

After a long period of dwindling demand, China's oil consumption showed first signs of stabilizing in June as a rebound in industrial activity helped the country's appetite for fuels such as gasoil recover from previous month's multi-year lows....................... Read More


Analysis: China's oil product exports set to break all records

Platts.com, 21st July 2016 

China's oil product exports are likely to stay strong in the second half of 2016 after rising to close to record highs in June as new independent refiners prepare to join the bandwagon and state-owned oil giants sit on large volumes of unused export quotas....................... Read More


Faltering Oil Recovery Prompts Warnings of a Relapse to $40

Bloomberg.com, 14th July 2016 

As oil’s upward climb runs out of momentum, more and more analysts expect the market’s next move will be back down toward $40 a barrel....................... Read More


Return of Oil Contango Shows Market Recovery Will Be Bumpy Ride

Bloomberg.com, 12th July 2016 

On the surface, the recovery of the global oil market is firmly in place, signaling an end to two years of oversupply and collapsing prices. However, one key indicator is warning of turbulence ahead....................... Read More


Asia Naphtha-China's Sinochem sells first ever cargo at steep discount

Reuters.com, 4th July 2016  

China's Sinochem has sold its first ever naphtha cargo for export from Huangdao, Shandong, at a discount of about $80 a tonne to Japan quotes on a free-on-board (FOB) basis, making this one of the steepest discounts seen this year, traders said on Monday....................... Read More


NWE naphtha cargoes fall to 3-month low versus swaps on lack of prompt demand

Platts.com, 24th June 2016

CIF Northwest European naphtha cargoes dropped to a three-month low versus the front-month swap Thursday on a lack of prompt buying interest and lengthening supply....................... Read More


Indonesia's Pertamina plans to build two more refineries in 2023

Platts.com, 17th June 2016 

Indonesia's state-owned Pertamina plans to build two more refineries in 2023 with a capacity of 300,000 b/d each, to meet rising domestic fuel demand, Wianda Pusponegoro, the company's vice-president for communications, said Friday....................... Read More


US shale oil production forecast to fall in July: EIA

 Platts.com, 13th June 2016 

Oil output in the biggest producing shale areas in the US is forecast to decrease 118,000 b/d in July from June to 4.723 million b/d, according US Energy Information Administration estimates released Monday....................... Read More


Crude Oil Closes at Ten-Month High as Market Seen Rebalancing

Bloomberg.com, 6th June 2016

Crude closed at the highest level in more than 10 months in New York on signs the global glut is contracting more quickly than projected....................... Read More


Latest IEA US shale scenario paints worsening outlook picture

Platts.com, 11th May 2016 

The International Energy Agency issued a downbeat forecast for US light tight oil production levels through 2020 Wednesday, predicting that overall shale output would not flatten out even at $60/b average oil prices over the period...................... Read More 


NWE naphtha cargo flat price nears 5-month high on surging crude

Platts.com, 29th April 2016   

The flat price for CIF NWE naphtha cargoes reached a near five-month high on the back of a strengthening crude complex Thursday, while physical fundamentals in the naphtha market remained stable..................... Read More


Oversupplied oil market to rebalance by next year, says IEA

theguardian.com, 21st April 2016 

The International Energy Agency (IEA) said it expects the oversupplied oil market to rebalance by next year, as non-Opec production records its biggest decline in a generation..................... Read More


OPEC cuts forecast for non-OPEC crude oil supply in 2016, trims demand outlook

Platts.com, 13th April 2016 

Chinese, US weakness hits supply outlook

Non-OPEC oil supply to fall 730,000 b/d in 2016

OPEC warns oversupply persists amid record inventories 

OPEC believes crude supply outside the producer group is set to fall more than expected, with weaker Chinese, Colombian, UK and US oil output eclipsing better outlooks for Canada, Norway, Oman and Russia..................... Read More


Asian naphtha crack at widest in two months on firm demand, tighter supply

Platts.com, 31st March 2016  

The Asian naphtha crack against ICE Brent crude oil was at its widest in two months Wednesday due to strong buying interest for the petrochemical feedstock and shrinking supply...................... Read More


Oil Security Seen at Risk by IEA on `Historic' Spending Cuts 

Bloomberg.com, 23rd March 2016 

Oil enthusiasts haven’t been jumping on board the latest rally. As crude has soared 50 percent since Feb. 11, the number of bets on increased prices has barely budged. Instead, the upward pressure on prices appears to have come from traders cashing out of bearish wagers at an unprecedented pace. The liquidation of short positions during the last seven weeks covered by data from the U.S. Commodity Futures Trading Commission was the largest on record......................


 
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