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India Oil Demand Hit By Covid As Saudi & Opec Import Share Falls To Record Low
...th Saudi Arabia’s market share falling to a record low 14.4%. Opec’s Q1 market share of 64.3% was also a record low, whilst the Mideast share of 56.2% was just fractionally higher than the record quarterly low set in 2014 (see chart). *In volume terms, the 595,000 b/d that India took from Sa...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Energy Investment: Oil And Gas Bear The Brunt Of Unprecedented Cuts
...vestment, the sharp drop-off in investment could have profound ramifications down the line. Since the crisis struck, IOCs have sought to emphasize that they are in much better shape to handle this downturn than the previous oil price fall in 2014. That fall led to significant belt-tightening and ef...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
Neutral Zone Crude Output Ramps Up
...ich restarted in February after having been shut-in since 2014 (MEES, 28 February). The first exports of Khafji crude oil (28.5°API, 2.85% sulfur) were then made in early April (MEES, 10 April). Some 1mn barrels was delivered to China’s Shuidong, while another 1mn barrels was offloaded to another ve...
Volume: 63Issue: 18Published at Fri, 01 May 2020 -
China Imports: Saudi Cements Top Spot; Iran At 5-Year High Amid Overall Record
...ivers’. *China imported 787,000 b/d from Iran in April, the highest figure since April 2014 and only just shy of the 800,000 b/d figure indicated by Reuters ship tracking (MEES, 10 May). Reports indicate that Beijing took advantage of massively-discounted Iranian barrels to expand its strategic st...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
US Shale Records Test Infrastructure Limits
...tput is now forecast to top 12mn b/d by the end of 2019 (see charts). For this year the EIA now forecasts 10.72mn b/d, up a whopping 1.37mn b/d on 2017 – a record annual gain, beating 2014’s 1.29mn b/d. The hike in forecasts comes in on the back of soaring oil prices. US marker WTI, having av...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Oil Price Gains Prompt Debate Over Demand Slowdown
...The IEA is seeing signs that the global oil market is overheating, with recent price gains towards $80/B Brent potentially dampening demand growth. Opec meanwhile is sticking to the line it pursued in January when prices edged above $70/B for the first time since December 2014, that short-te...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Blow To Nuclear Deal Forces Opec Output Reappraisal
...5,000 b/d. This is due to the startup of the first 50,000 b/d unit of the Hammar Mishrif Degassing Station facilities (DGS North). This consists of four units for a total 200,000 b/d and is being installed by South Korea’s Samsung under an $840mn 2014 contract (MEES, 4 April 2014). Completion was due for 20...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Opec Output Cuts Extended But Market Relevance Wanes
...b17 Jan17 Dec16 2016 2015 2014 S Arabia* 9.98 -0....
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Opec Facing Tough Choices Ahead Of Vienna Meeting
...rporation (NOC) claimed 800,000 b/d-plus output last week, a level it has not sustained for a whole month since October 2014. Production disruptions are an ever-present risk, but more than half-way through May it seems as if a sizeable monthly gain is near-guaranteed. In Nigeria, the outlook is less po...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
OPEC, Will It Have To Cut Deeper For Longer?
...15 2014 S Arabia* 9.98 -0.08 10.06 +0.02 -0.42 9....
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Saudi Asian Market Share Under Threat: Mees Data Analysis
...0 B/D): RUSSIA TOPS SAUDI AS leading SUPPLIER IN FOUR OF LAST SIX MONTHS. IS THIS A PERMANENT SHIFT? FOR SOUTH KOREA SAUDI ARABIA HAS HAD ITS SHARE SQUEEZED BY IRAQ (UP 220,000 B/D SINCE 2014) AND IRAN (UP 120,000 B/D) FOR TAIWAN KUWAIT MADE SERIOUS INROADS INTO THE SAUDI MA...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Iraqi Crude Export Volumes Approach Record Highs
...e highest since November at 431,000 b/d. Meanwhile, levels of direct crude burn for electricity generation fell to the lowest level since March 2014. Moreover, the 109,000 b/d was just 2.5% of overall production last March, the lowest in percentage terms since May 2013. However, the average Q1 di...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
OPEC Set For Rollover, In More Ways Than One
...pped in the coming months in order to meet higher domestic demand and export commitments. Despite signs that Venezuela, which has been most hit by the collapse in oil prices since June 2014, is again trying to coordinate action with non-Opec Russia, no formal meeting is planned between Opec kingpin Sa...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Saudi Arabia Crude Production And Exports Hit Record Highs (‘000 B/D)
...0 B/D) Mar-15 vsFeb-15 vsMar-14 Feb-15 Jan-15 1Q15 vs4Q14 vs1Q14 2014 2013 20...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
OPEC Vs NON-OPEC: IT’S JUST THE BEGINNING…
...above $65/B, has given rise to suggestions Opec’s November 2014 decision not to intervene in oil markets has been vindicated and the struggle for market share between Opec and its high-cost rivals has, in effect, been won by OPEC. Not so says the International Energy Agency (IEA). If anything, the ba...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Algeria’s Youcef Yousfi Ousted In Cabinet Reshuffle
...ries of protests in the Sahara Desert between December 2014 and March this year, raising renewed fears about security and stability in a country that had seen its fair share of militancy during the 1990s. The intensity of the anti-shale protests at In Salah highlighted an ill-conceived approach in de...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
He Ain’t Heavy, He’s My (OPEC) Brother
...e US has not imported a single barrel of Algerian crude since July 2014 (see graph). That’s not to say that the heavier grades are not feeling the impact of the US shale oil boom though to a lesser degree because US refineries, depending on their location, are not all configured to run the ultra-li...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
OPEC Output At Highest Level Since Late-2012
...nds yet another signal that Riyadh – and by association Opec – is sticking firmly to what many saw as a controversial November 2014 decision not to cut production, even though global oil prices were on a sharp downward trajectory. Just weeks after the decision, Saudi Oil Minister Ali Naimi told ME...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Zanganeh: six months for full Iran return to markets
...vels at the start of 2015, before recovering somewhat in recent weeks. Front month Brent futures were trading at around $66/B, down over 40% on their June 2014 peak of $115/B, as MEES went to press. With Saudi Arabia currently showing little willingness to reduce output, and Iraq forging ahead with it...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iran 1Q15 Oil Shipments Take India Hit
...ld intakes from Iran to approximately 2013 levels, 2014 saw Indian imports increase a massive 45% year-on-year, theoretically making it the biggest ‘violator’ of US sanctions among Iran’s remaining five regular customers: China, India, Japan, South Korea and Turkey. This move saw Indian imports fr...
Volume: 58Issue: 19Published at Fri, 08 May 2015