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NEWS |
THREE60 ENERGY awarded a Repsol Sinopec Resources contract
THREE60 ENERGY has been awarded a contract to deliver operations and maintenance support services for Repsol Sinopec Resources UK Limited Beatrice facilities.
NEWS |
Oil down as enthusiasm subsides before the weekend -Rystad comments
This morning’s rise in oil prices was not justified. At least by fundamentals....
NEWS |
Saudi Aramco said to start output cuts ahead of OPEC+ target
Saudi Aramco started reducing production earlier this week ahead of the May 1 deadline when new OPEC+ output targets kick in, according to a Saudi industry official familiar with the matter.
NEWS |
Oil front months plummet on storage fears -Rystad comments
Approximately 400 million barrels of crude storage capacity remains globally, a good part of it in the US. With stocks building by an estimated 26.5 million barrels per day in April, we could see that (...)
NEWS |
Oil on a free fall again -Rystad Energy comments
The real problem of the global supply-demand imbalance has started to really manifest itself in prices. As production continues relatively unscathed, storages are filling up by the day...
NEWS |
Cobertura! Or how Mexico became the unlikely OPEC+ deal winner, really cutting 50,000 bpd at most
The elephants in the digital room had reached a compromise. Russia had agreed, Saudi Arabia too, and with them almost all of the other oil producers of the OPEC+ alliance were ready to seal a deal tha (...)
NEWS |
Oil prices mixed as supply-demand imbalance persists -Rystad Energy comments
Prices are mixed on Wednesday morning and only changed marginally as the market is now digesting the developments of the last few days...
NEWS |
Oil price largely stable on mixed signals -Rystad Energy comments
The OPEC+ deal during Easter holidays brought no resurrection to oil prices on Tuesday, as they just are trading almost 1% higher this morning.
NEWS |
Rystad Energy’s comment on G20 and OPEC+ meetings
G20 today decided to take a more active role in helping the oil market but did not make specific commitments or give a number of potential cuts....
NEWS |
Norway says still willing to cut oil output if OPEC+ plan implemented
Norway, Western Europe’s largest oil producer, said on Saturday the country was still considering cutting oil production if the OPEC+ group would implement its plan.
NEWS |
OPEC and G20 Meeting Outcome Increases Instability in the Oil Market
The outcome of the G20-OPEC+ oil production cut discussion is very disappointing. The agreed-upon 10+ million bpd production cut is based on semantics and not on facts able to hold in the market.
NEWS |
Comment on OPEC+ compromise with Mexico from two Rystad Energy analysts:
Comment on OPEC+ compromise with Mexico from two Rystad Energy analysts...
NEWS |
Rystad Energy’s comment on Monday’s oil prices
Oil prices were already at higher levels than they should be before the OPEC+ and the G20 meetings due to market enthusiasm and hopes for a solution to the crisis....
NEWS |
OPEC+ seems to be agreeing on a deal today to cut output by at least 10 million bpd!
If true, the preliminary production cut of 10 million bpd among OPEC+ members is a good first step, but it would still not be enough given the 20 million bpd+ supply overhang expected for 2Q20....
NEWS |
Rystad Energy’s final comment on today’s OPEC deal:
The proposed 10 million bpd cut by OPEC+ for May and June will keep the world from physically testing the limits of storage capacity and save prices from falling into a deep abyss, but it will still n (...)
NEWS |
Oil Deal On Verge Of Collapse As Russia Balks At Proposed US "Production Cut"
As oil traders look with dread and fear to tomorrow's OPEC+ teleconference one day after crude oil tumbled amid speculation that the production cut standoff will not be resolved...
NEWS |
Opec+ likely to agree to cut production if US joins effort: Sources
Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the effort, aimed at coping with the disastrous ef (...)
NEWS |
OPEC+ set to agree 4.3 mln bpd in output cuts: JP Morgan
OPEC and Russia this week are likely to agree to cut oil output by about 4.3 million barrels per day (bpd), JP Morgan analysts said in a note on Tuesday, a big increase on their recent cuts of 1.7 mil (...)
NEWS |
The U.S. energy industry squeezed between virus fears and OPEC price war
For the U.S. energy industry, the bleak start to 2020 turned increasingly dismal by mid-March. As coronavirus fears gutted global demand and a price war between Saudi Arabia and Russia flooded the mar (...)
NEWS |
OPEC+ meeting delayed on new Saudi, Russia rift
OPEC+ delayed a meeting aimed at ending the oil price war, as Riyadh and Moscow trade barbs about who’s to blame for the collapse in oil prices.
NEWS |
OPEC+ talks may be held next week, source says
OPEC started preparations for negotiations within the OPEC+ framework, initiated by Saudi Arabia. The meeting may take place next week, according to a source taking part in the preparations.
NEWS |
OPEC+ poker game on Monday: Russia holds better cards than Saudi Arabia
A month after the last unproductive OPEC+ meeting and with Covid-19 slashing demand amid the ongoing price war, the US has managed to broker a new extraordinary meeting for oil-producing nations.
NEWS |
You thought global oil supply couldn’t get any larger? INEOS: ‘Hold my maintenance’
With only a week to go before OPEC+ countries start flooding the world’s total oil production with an estimated extra 2.5 million barrels per day (bpd) amid the Covid-19 crisis, building one of the bi (...)
NEWS |
Russia blames Gulf countries for crisis in global oil markets
Russia said that the Gulf countries are to blame for the crisis in the world oil markets. According to Andrei Belousov, Russia's first deputy prime minister, Russia had never sought a sharp drop in oi (...)
NEWS |
A crude tsunami: Up to 3 million bpd of extra oil can hit the market from April, more coming in May
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates.....
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