Post Tagged with: "Supply glut"

Source: Reuters

Oil falls to $30 as supply glut counters lockdown easings

Reuters


Oil fell to around $30 a barrel on Wednesday as a report showing a higher-than-expected rise in U.S. inventories offset hopes for a recovery in demand as some countries ease coronavirus lockdowns.

Brent crude has almost doubled since hitting …

Notley Leaves Alberta Oil Industry Hanging on Output-Cut Idea

Notley Leaves Alberta Oil Industry Hanging on Output-Cut Idea

From Bloomberg

  • Premier makes no mention of curtailment in Toronto speech
  • CTV Interview Wednesday had raised expectation that she would

 

Alberta Premier Rachel Notley reiterated her call for Canadians to support new oil pipelines and improve two energy bills …

November 30, 2018 - 12:13 pm Canada, Closing Bell Story‎, Energy News, International
Oil Glut Creates $7.5 Billion Traffic Jam at Sea

Oil Glut Creates $7.5 Billion Traffic Jam at Sea

Around 200 million barrels of crude sits in tankers offshore waiting to be delivered

“If you’ve bought 100,000 barrels of crude at $40 (per barrel) that’ll cost you $4 million,” said one oil trader. “And if you’ve calculated another 1.5 …

Source: theiet.org

Iran Deal Reached: Predictions on Added Crude Exports Range from 400-800 MBOPD

Opinions vary widely on how much Iranian crude will hit the market and when we can expect to see it

The much anticipated deal between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), was …