US’ Cheniere sees LNG growth from Asia’s ‘three pillars’ of demand
The US’ largest LNG producer, Cheniere Energy, sees the industry’s growth as coming from the “three pillars of South Asia, Southeast Asia and China” with Japan also “a fairly stable market,” supported...
View ArticleThe complexity of capital allocation for oil and gas companies
Oil and gas investment strategy started getting trickier after the Paris Agreement almost a decade ago. In recent years, the uncertain pace of the energy transition has added another layer of...
View ArticleIraqi oil output was below OPEC+ quota in September, says gov’t official
Iraq produced 3.94 million barrels per day (bpd) of oil in September, less than its OPEC+ output quota of about 4 million bpd, an Iraqi official said, as the country seeks to boost its compliance with...
View ArticleThe Commodities Feed: Higher speculative activity in crude oil
Energy – Speculators cover shorts significantly ICE Brent and NYMEX WTI opened lower this morning, with prices for both falling over 1% after China policy briefing over the weekend failed to offer new...
View ArticleADES says Saudi Aramco renews two onshore rigs for 10 years
Saudi Arabia’s ADES received 10-year contract renewals from Saudi Aramco for two onshore rigs in Saudi Arabia, according to an Oct. 13 statement on the Saudi stock exchange Tadawul. The Riyals 946...
View ArticleAustralia’s Dec NWS condensate seen lower on persistent weak margins
Australian North West Shelf condensate cargoes loading in December have been valued lower month on month, as end-users cut runs amid weak petrochemical margins, sources said. For the December-loading...
View ArticleKuwait raises crude prices in Nov, document shows
Kuwait has raised the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in November to $1 a barrel above the average of Oman/Dubai quotes, up 85 cents from the previous month, a price...
View ArticleAzerbaijan’s 9-month oil output down 4.8%, ministry says
Azerbaijan’s oil output fell by 4.8% to 21.6 million metric tons in the first nine months of 2024, from 22.7 million metric tons a year earlier, Energy Minister Parviz Shahbazov said on Monday. He did...
View ArticleMiddle East Crude-Benchmarks slip; Qatar offers Dec-loading cargoes
Middle East crude benchmarks Oman, Dubai and Murban slipped on Monday as concerns around an escalation of conflict between Israel and Iran eased. Spot premiums for Oman and Dubai fell toward $1.70 a...
View ArticleHigher Geopolitical Risk Premium in Oil Price Partly Offsetting Market Weakness
The geopolitical risk premium priced into crude oil markets, which has been relatively subdued for the most part this year, has expanded to yield a USD5-10/bbl variation in crude oil prices from...
View ArticleOPEC cuts 2024, 2025 global oil demand growth view again
Crude Oil Price Movements In September, the OPEC Reference Basket (ORB) value declined by $4.82/b, or 6.1%, m-o-m, to average $73.59/b. The ICE Brent’s front-month contract fell by $6.01, or 7.6%,...
View ArticleMiddle East supply disruption potential could send oil above $100/bbl, Citi says
Citi Research on Monday raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during these months...
View ArticleLibyan oil output poised for boom after end to political standoff
Libya’s latest political crisis wiped out 570,000 b/d of its crude oil production in September, but with the standoff now resolved, output could come roaring back to surpass even pre-crisis levels,...
View ArticleOPEC says Russian oil output edged further down in September
Russia cut crude oil output in September by 28,000 barrels per day (bpd) to about 9 million bpd,the Organization of the Petroleum Exporting Countries (OPEC) said on Monday, citing data from secondary...
View ArticleOil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens
Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook andafter a media report said Israel is willing to not strike Iranian oil targets, easing fears of...
View ArticleMiddle East conflict could drive oil prices to $200: analysts warn
A press report has concluded that the intensification of conflict and tensions in the Middle East could lead to a significant increase in oil prices, potentially pushing the price of a barrel to $200,...
View ArticleOPEC cuts oil demand growth forecast for third month in a row
OPEC on Oct. 14 trimmed its world oil demand forecast for 2024 and 2025 for the third successive month, thought it maintained that its estimates still reflected healthy, above-average growth. In its...
View ArticleMiddle East Crude-Benchmarks slip as Iran disruption concerns ease
Spot premiums for Middle East crude benchmarks — Oman, Dubai and Murban — slipped for a second session on Tuesday as concerns about Iranian oil supply disruption eased, erasing geopolitical risk...
View ArticleOPEC trims its China crude demand forecast, but nowhere near enough
OPEC cut its estimate for China’s crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively optimistic given the reality of falling imports. The...
View ArticleIEA: Risks to oil supply security in focus even as demand growth continues to...
Highlights World oil demand is on track to expand by just shy of 900 kb/d in 2024 and close to 1 mb/d in 2025, marking a sharp slowdown on the roughly 2 mb/d seen over the 2022-2023 post-pandemic...
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