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IEA Points To Lower Forever Oil Markets
...ve fallen to their lowest levels since at least 2017, it adds that “global refined product stocks have swelled to three-year highs, pressuring margins across key refining hubs.” IEA SUPPLY & DEMAND FORECASTS, OCTOBER 2024 (MN B/D) OPEC SUPPLY & DEMAND FORECASTS, OC...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Europe Turns To Middle East For Replacement Gasoil Supplies
...rope’s imports from the region (including re-exports from Egypt’s Sidi Kerir) jumped by 131,000 b/d to 559,000 b/d in September. This is the highest figure in Kpler data stretching back to January 2017, topping the previous record of 541,000 b/d set in October 2021. But it is still far from su...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
Saudi Crude Exports Rebound Following Abqaiq Attack
...2,000 b/d in August. But this was dwarfed by a spike in reported fuel oil consumption – primarily consumed for electricity generation including powering water desalination – to a record 800,000 b/d that month. This drove overall oil burn up to a new monthly record of 1.44mn b/d, surpassing July 2017’s pr...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
US Permian Shale: Can It Maintain The Gains?
...om a stellar 150,000 b/d for February and March, monthly gains since have still averaged 50,000 b/d. Overall US ‘shale oil’ output which only topped 7mn b/d for the first time in May (and 6mn b/d eight months earlier in September 2017), is now well above 7.5mn b/d. Output of 7.53mn b/d for Se...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
2019 Global Oil Demand Projections Revised Down On Economic Headwinds
...IEA SUPPLY & DEMAND FORECASTS, OCTOBER 2018 (MN B/D) 2017 2018 vs 17 2019 vs 18 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Saudi ‘Demonstrates Leadership’ by Keeping Crude Exports Low
...FINING MOMENTUM Much of the crude export drop-off is a result of lowering crude production, but not all. Saudi Arabia’s strategy at the beginning of 2017 was to prioritize exporting crude over refining it, but this has now firmly switched. Refining runs are now being boosted at the ex...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Does Opec Have A Strategy For ‘Lower For Ever’?
...rrels for products – as of end-September, Mr Barkindo says. This is less than half of the 338mn-barrel figure at the start of 2017 when the output cut deal went into effect and down by a further 11mn barrels from the end-August figure (MEES, 13 October). However more than half of the ‘gains’ in re...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame
...OPEC Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame A weakening global economy and the prospect of additional Iranian barrels mean that global oil demand may not catch up with supply until the year after next. Low oil prices too are unlikely to go away anytime so...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015