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  1. Will Increased Saudi Oil Production Translate Into Higher Summer Exports?

    ...cle US shale activity could have a material impact on global balances, creating space for increased volumes from Saudi Arabia and its fellow Opec+ producers.  1: SAUDI CRUDE BURN HAS STARTED THE YEAR AT THE LOWEST LEVEL SINCE 2017 (‘000 B/D) SOURCE: JODI, MEES.   2: HOW WILL PR...

    Volume: 68
    Issue: 19
    Published at Fri, 09 May 2025

  2. Japan LNG Imports At 3-Year High As East Asia Sees Record Q1

    ...88mn tons, the highest quarterly figure since 1Q 2017. Number four was the USA with a record 2.72mn tons (see table).   *The bumper Q1 Japan volumes coming on top of quarterly records from China (MEES, 23 April) and South Korea (MEES, 16 April) mean that overall East Asian imports were up 15% ye...

    Volume: 64
    Issue: 18
    Published at Fri, 07 May 2021

  3. Saudi Prioritizes Core Markets As Crude Exports Drop

    ...ich is actually down from around 1.9mn b/d in April. Volumes shipped to No.2 buyer Japan have soared in early May. They are now running China relatively close at more than 1.5mn b/d. The most that Japan has ever imported from Saudi Arabia over the course of a month was 1.44mn b/d in February 2017...

    Volume: 63
    Issue: 21
    Published at Fri, 22 May 2020

  4. Saudi Gasoline, Jet-Kero Consumption Slumps In Lockdown

    ...ril and May. The lowest figure in Jodi’s records is 246,000 b/d from January 2002. Saudi gasoline consumption had been falling previously anyway. Having peaked at 599,000 b/d for 2017, price increases in 2018 as part of watered-down measures to ease subsidies resulted in two consecutive annual de...

    Volume: 63
    Issue: 21
    Published at Fri, 22 May 2020

  5. Asian LNG Pricing: Term Premium Set To Collapse

    ...e set to finally slump in June, and then further in July and August as lower oil prices fully work themselves through into LNG contracts.   *Japan and Korea, long the two largest LNG importers (Japan remains global number 1, Korea was overtaken by China in 2017) are the two with the highest le...

    Volume: 63
    Issue: 21
    Published at Fri, 22 May 2020

  6. Opec Faces Uncertain Outlook As Focus Turns To Vienna

    ...16, 2017 and 2018 as well and isn’t merely the reclassification of NGLs as crude. STORM CLOUDS OVER VIENNA         This reduced market share has hit Opec’s weakest members the hardest. Iran and Venezuela are both facing major political challenges, while cash-strapped countries such as Algeria an...

    Volume: 62
    Issue: 20
    Published at Fri, 17 May 2019

  7. Trump’s China Trade Deal: Will Saudi Lose Out?

    ...ich came into effect at the start of 2017, but also due to an increased downstream focus: oil products exports hit a record 1.89mn b/d in Q1, with products’ share of the kingdom’s oil exports at a record 20.8% (see data, p18). In China, Saudi Arabia has seen its market share fall from 20% in 2012 and 15...

    Volume: 61
    Issue: 21
    Published at Fri, 25 May 2018

  8. 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: 61
    Issue: 20
    Published at Fri, 18 May 2018

  9. Oil Price Gains Prompt Debate Over Demand Slowdown

    ...e group cut its expected global demand growth rate from 1.47mn b/d to 1.44mn b/d (see Chart 1). “Crude oil prices have risen by nearly 75% since June 2017. It would be extraordinary if such a large jump did not affect demand growth” says the group. Demand growth cuts have fallen solely on 2H 20...

    Volume: 61
    Issue: 20
    Published at Fri, 18 May 2018

  10. Blow To Nuclear Deal Forces Opec Output Reappraisal

    ...18mn b/d the highest since October 2017. Moreover, export volumes have been more than 5mn b/d for four consecutive months, a feat not achieved since August 2017. Q1 exports to China of 1.345mn b/d were a record high, while the 193,000 b/d to South Korea was the most since 3Q 2015.  OPEC WELLHEAD PR...

    Volume: 61
    Issue: 19
    Published at Fri, 11 May 2018

  11. Saudi Crude Exports To Key Customers (‘000 B/D)

    ...Q1 SAW SAUDI ARABIA’S CRUDE SHIPMENTS TO THE US REBOUND SOMEWHAT FROM THE 30-YEAR LOWS HIT IN 2H 2017...   ...JAPAN, WHICH OVERTOOK THE US FOR #1 IN 2015, EXTENDED ITS LEAD LAST YEAR. CHINA VOLUMES EDGED UP... SOURCE: OFFICIAL IMPORT STATISTICS, JODI, ME...

    Volume: 61
    Issue: 18
    Published at Fri, 04 May 2018

  12. Opec Output Cuts Extended But Market Relevance Wanes

    ...tension. US crude production is surging and is rapidly approaching record heights, while there is a strong likelihood that Opec output itself will grow this month thanks to strong gains in Libya. IEA FIGURES IMPLY MARKET REBALANCING* REMAINS ON COURSE FOR Q4 2017... (CUMULATIVE 2017 STOCK DRAWDOWN MN BA...

    Volume: 60
    Issue: 21
    Published at Fri, 26 May 2017

  13. Opec Facing Tough Choices Ahead Of Vienna Meeting

    ...RKET REBALANCING* REMAINS ON COURSE FOR Q4 2017... (CUMULATIVE 2017 STOCK DRAWDOWN MN BARRELS) ...BUT OPEC’S LATEST NUMBERS SHOW THE FINISH LINE GETTING EVER FURTHER AWAY *BASED ON OPEC SEC-GEN STATEMENT THAT REBALANCING REQUIRES 270MN BARREL STOCKDRAW. SOURCE: OPEC, IEA, MEES.   BU...

    Volume: 60
    Issue: 20
    Published at Fri, 19 May 2017

  14. US Forecasts Up Again But Firms Wary Of Rising Costs

    ...ntinues to raise its crude output forecasts for this and next year. Its latest Short Term Energy Outlook, released 9 May, forecasts that output will hit 9.685mn b/d, a new record, in November this year and top 10mn b/d in October 2018 (see chart). For 2017 as a whole, the EIA’s latest overall average fo...

    Volume: 60
    Issue: 19
    Published at Fri, 12 May 2017

  15. April Rig Count: Algeria Drilling Hits 34-Year High, Qatar Equals Record

    ...        April 2017 Breakdown   Ap...

    Volume: 60
    Issue: 19
    Published at Fri, 12 May 2017

  16. OPEC, Will It Have To Cut Deeper For Longer?

    ...DONESIA, WHICH HAS SUSPENDED ITS MEMBERSHIP. SOURCE: MEES.   OPEC WELLHEAD PRODUCTION, APRIL 2017 (MN B/D. MEES ESTIMATES)   Apr17 v Alloc. ‘Allocation’ from Ja...

    Volume: 60
    Issue: 18
    Published at Fri, 05 May 2017

  17. US Oil Output Hits Record 14mn B/D In April

    ...mains well up on that seen in 2015 and earlier years, up 70,000 b/d on April 2015 to be precise. All this implies that US overall oil output likely topped 14mn b/d for only the second time ever in April 2017. The provisional data indicates a total of 14.015mn b/d, up from the previous record of 14...

    Volume: 60
    Issue: 18
    Published at Fri, 05 May 2017

  18. Iran Output Rebound Sets Stage For Saudi Stand-Off In Vienna

    ...16 contract, prices which imply an average value of $45/B for 2016 as a whole. The EIA report cited stronger than expected economic data as a key contributory factor. This has led the EIA to revise global demand projections upwards by 0.3mn b/d and 0.2mn b/d for 2016 and 2017 respectively, le...

    Volume: 59
    Issue: 19
    Published at Fri, 13 May 2016

  19. Iraq, KRG Oil Export Deal Holds Despite Discrepancies

    ...eld to 2017 or beyond. (MEES, 1 May).  ...

    Volume: 58
    Issue: 19
    Published at Fri, 08 May 2015

  20. Saudi Top Oil Brass On China Charm Offensive

    ...“the second frontier for unconventional after the US,” says Mr Falih. Saudi Arabia has identified three areas with high shale gas potential, one of which in the north near the Jordanian border where production is expected to start in 2016 or 2017. ...

    Volume: 58
    Issue: 18
    Published at Fri, 01 May 2015