Post Tagged with: "Demand"

Source: Reuters

Oil barrels come off the water as storage boom at sea fades

Reuters


LONDON – Tens of millions of barrels of crude and oil products stored on tankers at sea due to the coronavirus crisis are being sold, in a sign fuel demand is recovering as lockdowns ease, shipping sources say.

Fuel …

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

RarePetro


Oil & Gas 360 Publishers Note:  Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

The Incoming Glut: Excessive Levels of Heavy Crude Supply in a Saturated Market

RarePetro

Oil & Gas 360 Publishers Note:  Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any

May 29, 2020 - 11:25 am Capital Markets, Crude Oil Storage, OPEC
Source: Reuters

OPEC delivers three quarters of record oil cut in May: survey

Reuters


LONDON – OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their …

Source; Reuters

Oil up on lower U.S. stocks, firmer demand

Reuters


LONDON – Oil prices firmed on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but worries over the economic fallout from the coronavirus pandemic and weak refining margins capped gains.

Brent crude futures LCoc1 …

Source: Reuters

Sharp oil price pullback unlikely as demand improves: Goldman

Reuters


The risk of a sharp pull-back in oil prices has decreased as the rebalancing of the crude market gathers pace, Goldman Sachs said, aided by a gradual lifting of coronavirus lockdowns and a faster-than-expected fall in output.

The Wall-Street …

Source: Reuters

Oil prices up after Saudi pledge on cuts eases some glut fears

Reuters


LONDON  – Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during the coronavirus crisis.

Brent crude LCOc1 advanced 78 cents, …

Source: Reuters

A hunt for any storage space turns urgent as oil glut grows

Reuters


NEW YORK/HOUSTON – The telephone lines have been ringing at Adler Tank Rentals in Texas as oil companies found a new use for steel tanks that had been left idle when shale producers stopped drilling – they want to …

Source: Reuters

Oil prices fall as demand woes eclipse U.S. stimulus

Reuters


LONDON  – Oil prices fell on Wednesday as faltering fuel demand because of the coronavirus pandemic outweighed a massive pending U.S. economic stimulus package.

Brent crude LCOc1 was down 49 cents, or 1.8%, at $26.66 a barrel at 1400 …

Source: TOPS/LinkedIn

Black Bay Energy Capital Backs Permian-Based Oilfield Services Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

Black Bay Energy Capital forms partnership with Total Operations and Production Services
Black Bay Energy Capital, a private equity firm focused primarily on the oilfield services and equipment sector, has formed

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

From Reuters


Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

International benchmark Brent crude settled …

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

From Reuters


Marathon Oil Corp (MRO.N) reported a 50% jump in quarterly adjusted profit on Wednesday, as higher U.S. shale output countered lower realized crude prices and production costs fell.

The company, like many other U.S. oil producers, is extracting …

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

From Reuters


Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.

During the session, Brent traded …

Oil’s Post-Crash Bounce Fades as Buy-the-Dip Proves a Bust: Kemp

Oil’s Post-Crash Bounce Fades as Buy-the-Dip Proves a Bust: Kemp

From Reuters


Oil prices have continued to drift lower after plunging last week, highlighting the risk for traders trying to exploit mean-reversion strategies by buying futures contracts after a sharp fall in prices.

Front-month Brent futures prices tumbled by more …

Source: Sweetcrudereport.com

Bank of America Sees Oil Gains in 2019, but That Forecast is Far from Universal

From CNBC

  • A year ahead outlook report from Bank of America Merrill Lynch expects Brent crude to regain its recent losses in 2019 and settle at $70 a barrel.
  • But amid mounting global uncertainty on everything from trade and monetary
December 12, 2018 - 2:03 pm Closing Bell Story‎, Energy News, Finance
Courtesy of RSP Permian

OECD Inventories Lowest in Three Years: IEA

Inventory declines have brought prices to three-year highs

The International Energy Agency (IEA) released its monthly Oil Market Report today, outlining the group’s analysis of the overall oil market.

In March 2018, OECD stocks declined by 27 million barrels to …

A Deep Dive into the Mind of the EIA

A Deep Dive into the Mind of the EIA

The EIA’s Jeff Barron joined the EnerCom Dallas conference last week, both as an attendee and as a presenter. At lunch time Thursday he laid down a detailed, analytical presentation that spoke volumes to the analysts, institutional investment officers and …

Hi-Crush Sells 8.93 Million Tons of Frac Sand in 2017

Hi-Crush Sells 8.93 Million Tons of Frac Sand in 2017

Hi-Crush Partners LP (ticker: HCLP) reported its Q4 and full year 2017 results. Revenues for the fourth quarter of 2017 totaled $216.5 million on sales of 2,985,115 tons of frac sand. This compares to $167.6 million of revenues on sales …

IEA World Oil Demand (mb/d = Millions of Barrels per Day), Feb. 2018

World Hungers for Oil: IEA

The International Energy Agency (IEA) released a new Oil Market Report (OMR) today.

In its OMR, the IEA said countries across the globe have been steadily consuming more and more oil over the past few years.

The IEA said that …

Natural Gas Production Turns the Corner in 2017: EIA

Natural Gas Production Turns the Corner in 2017: EIA

Natural gas production is expected to increase in 2017, after seeing its first decline in over a decade in 2016

Natural gas production is expected to increase during the course of 2017, according to the Energy Information Administration (EIA). The …

OPEC Compliance Might Cause Global Crude Deficit in 2H 2017

OPEC Compliance Might Cause Global Crude Deficit in 2H 2017

Demand could outstrip supply in the back-half of next year, but only if OPEC and non-OPEC producers follow through on cuts

Oil prices leapt over $50 per barrel following OPEC’s agreement to cut production last week, and they could be …

December 7, 2016 - 5:07 pm Closing Bell Story‎, Oil and Gas 360 Articles, OPEC
Indian Crude Oil Imports Up 17.7% from Last Year – Hitting Record High

Indian Crude Oil Imports Up 17.7% from Last Year – Hitting Record High

Crude oil imports in India reach 4.47 MMBOPD

Demand for crude oil in India remains a bright spot in the markets as imports continue to grow month-over-month. Imports of crude oil grew to a record high 4.47 MMBOPD in September, …

China May Be Storing More than 150% More Oil than Official Estimates

China May Be Storing More than 150% More Oil than Official Estimates

New third-party estimates put Chinese strategic oil reserves at 600 MMBO, 366 MMBO more than official reports

The actual amount of crude oil stored in China may be significantly higher than official reports indicate, according to geospatial analytics company Orbital …

September 30, 2016 - 6:02 pm Closing Bell Story‎, International, Oil and Gas 360 Articles
IEA: Essentially No Oversupply in Second Half of the Year

IEA: Essentially No Oversupply in Second Half of the Year

Supply and demand beginning to cool as oversupply shrinks – IEA, OPEC weigh in

The International Energy Agency sees supply and demand coming into balance during the third quarter of the year, according to its August Oil Market Report.…

Not Just Another Cycle: Major Shifts Between 2008 and Today

Not Just Another Cycle: Major Shifts Between 2008 and Today

Just because it’s cyclical, doesn’t mean every cycle is the same

They say history repeats itself, and given the cyclical nature of the oil and gas business, many look to the past when trying to guess what is coming next, …

Oil Surplus Smaller than Expected, but Downward Pressure on Prices Remain – IEA

Oil Surplus Smaller than Expected, but Downward Pressure on Prices Remain – IEA

Oil surplus about 40% smaller than thought a month ago

The global glut of oil is shrinking, and the oil surplus is smaller than it was believed to be a month ago, according to the IEA’s June Oil Market Report

OPEC Report Calls for Market Balance in Second Half of 2016

OPEC Report Calls for Market Balance in Second Half of 2016

Unplanned outages continue to shore up the market quicker than expected – OPEC

The OPEC Monthly Oil Market Report released Monday shows the group expects oil markets to balance out in the second half of this year. Unplanned supply outages …

Demand Cools: IEA Oil Market Report Has Demand Growth Slowing 0.6 MMBOPD

Demand Cools: IEA Oil Market Report Has Demand Growth Slowing 0.6 MMBOPD

Production outside of OPEC has started to show more significant signs of rolling over recently, with U.S. production falling below 9.0 MMBOPD for the first time since 2014. Global oil supplies fell 0.3 MMBOPD in March to 96.1 MMBOPD, …

OPEC Trims 100 MBOPD Off Demand Expectations

OPEC Trims 100 MBOPD Off Demand Expectations

OPEC expects demand to be around 100 MBOPD lower than last month’s forecast

In its March Oil Market Report, OPEC said it is now forecasting weaker demand for its own crude for 2016. The group revised demand expectations for oil …

March 16, 2016 - 4:08 pm Closing Bell Story‎, Oil and Gas 360 Articles, OPEC
Signs Point to Prices Bottoming Out – IEA

Signs Point to Prices Bottoming Out – IEA

Production overhang beginning to slow,  but “sustainable price recovery more likely a 2017 event”: Wells Fargo

Oil prices continued their gains today as a report from the IEA indicated that prices may have finally bottomed out, and are beginning to …