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Month: October 2017

Category:
  • Prices

Oil prices near two-year highs as supply cuts bite

Oil prices eased on Tuesday after a week of gains as the prospect of increasing U.S. exports dampened bullish sentiment that has driven Brent to more than two-year highs above Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Oil prices test new territory amid OPEC chatter

Crude oil prices continued to test new highs in Monday trading, supported by a growing consensus that OPEC will extend a production cut agreement in November. The price for Brent Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Brent oil ends above $60 on expected OPEC cut extension

Brent oil closed on Monday at its highest level since July 2015 and U.S. crude closed at a peak not seen since February on expectations OPEC-led production cuts would be Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Brent crude tries new trading range as funds stay bullish: Kemp

Hedge funds have added to bullish positions in oil and most refined products even as prices hit their highest since 2015, in a sign investors expect prices to move into Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Oil market set to move from rebalancing to tightening: Kemp

The oil market is now well into a cyclical upswing and within the next year the narrative about “rebalancing” is likely to be replaced by one about “tightening”.  Rebalancing started Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Can $60 Oil Last?

Oil prices firmed up in recent weeks, but held back from key resistance points—roughly $60 per barrel for Brent, and around $55 per barrel for WTI. Oil traders were reluctant Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Iraq
  • Turkey

Iraq’s Kurds Resume Pumping Oil by Pipeline to Turkish Port

Kurd region exported 264,000 barrels a day before brief halt Latest stoppage came after Iraq retook Kirkuk area from Kurds Oil exports resumed from Iraq’s Kurdish region after halting earlier Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • United Arab Emirates

UAE to keep cutting oil output to comply with global deal: minister

The United Arab Emirates will continue to reduce its oil output to meet its commitment to a global oil production cut agreement, its Energy Minister Suhail al-Mazroui said.  “As part Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Iraq

Iraqi Pipeline Disruption Takes 250,000 Bpd Off The Market

Crude oil from northern Iraq, including from the Kurdistan region, stopped flowing from the oil pipeline between Kirkuk and the Turkish Mediterranean port of Ceyhan early on Monday local time, Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Iraq

Violence Ensues Following Kurdistan President Resignation

Kurdistan’s President Masoud Barzani announced his resignation three days before the end of his term in office, with violence erupting against the autonomous region’s parliament, according to tweets from Erbil. Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Asia
  • Iran

Asian imports of Iranian oil hit highest in six months

Imports of Iranian crude by major buyers in Asia rose in September for a third straight month to their highest since March, boosted by a surge in purchases in China Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • OPEC

3 Potential OPEC Deal Killers

The Middle East isn’t yet ready to agree on the future of OPEC’s output reduction deal as the bloc’s November 30 summit approaches, during which the cartel is set to Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Africa

Oil gives short-term life to African economies, IMF says

The economies of sub-Saharan Africa get some support from oil production in Nigeria and elsewhere, though it flattens out by 2019, the IMF said Monday. The International Monetary Fund said Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Chad

Exclusive: Chad wants to cut off Glencore’s oil supplies in debt row

Chad is on a collision course with top creditor Glencore as it wants to divert oil from the Swiss trading house to U.S. energy company ExxonMobil from the new year Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Brazil
  • Offshore

The Return Of Deepwater Oil

In a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. Crude Imports Soar Amid Rising Refinery Output

I’ve been on the road – on walkabout as the Australians would say – for the last four weeks, doing a number of speaking engagements and trips across America. As Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • China
  • USA

China’s Sinopec mulls U.S. oil projects ahead of Trump’s visit: sources

China’s state oil major Sinopec is evaluating two projects in the United States that could boost Gulf Coast crude oil exports and also expand storage facilities in the Caribbean, two Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Environment
  • USA

80 Oil Pipeline Companies Off The Hook For Wetlands Damage

Over 80 oil and gas pipeline companies will be exonerated of a lawsuit that claims damage to wetlands via the construction of canals in Louisiana after the Supreme Court decided Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Biofuels

You Won’t Guess Who Just Saved America’s Biofuels

Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk management, emerging market economic development, and market risk assessment. His… And the latter has one Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Climate

Record surge in atmospheric CO2 seen in 2016

Emissions from human activities have levelled off but concentrations in the atmosphere continue to grow Concentrations of CO2 in the Earth’s atmosphere surged to a record high in 2016, according Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Russia

Sanctions Force Rosneft To Shut Down Oil Project

Economic sanctions against Russia have made the offshore Yuzhno-Chernomorsky oil field economically unfeasible, and Rosneft will now suspend exploration in the area for five years, Russian media reported, quoting the Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Germany
  • Wind

There Was So Much Wind Power In Germany This Weekend, Consumers Got Free Energy

A stormy weekend led to free electricity in Germany as wind generation reached a record, forcing power producers to pay customers the most since Christmas 2012 to use electricity. Power Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Climate

Climate change fueling disasters, disease in ‘potentially irreversible’ ways, report warns

Climate change significantly imperils public health globally, according to a new report that chronicles the many hazards and symptoms already being seen. The authors describe its manifestations as “unequivocal and Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Climate

WMO reports GHG concentrations at highest in 800K years

Concentrations of carbon dioxide in the atmosphere surged at a record-breaking speed in 2016 to the highest level in 800,000 years, according to the World Meteorological Organization’s Greenhouse Gas Bulletin Continue Reading

Posted On : 31 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Oil prices rise on expected extension of output cuts

Oil markets rose on Monday, with Brent remaining above $60 per barrel on expectations that an OPEC-led production cut due to expire next March would be extended, although rising exports Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Oil Majors Rebound As Breakevens Hit $50 Per Barrel

The earnings reports for the oil majors are widely expected to reveal sharp improvement for the oil industry, finally rebounding after more than three years of low prices. And it Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Analysts Raise Oil Price Forecasts

Just a few of months ago, analysts and investment banks slashed their oil price forecasts as OPEC’s production cuts drew down the global oil oversupply slower than initially expected, and Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

The 4 Factors Driving Next Year’s Oil Markets

With earnings season in full swing, we thought it helpful to outline what we are looking for in oil and gas production and refining company statements and earnings calls. Several Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Oil Supply

World Crude Oil Supplies per July 2017

In this post I present developments in world crude oil (including condensates) supplies since January 2007 and per July 2017. In this post the world crude oil (inclusive condensates) supplies Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

‘Transformation Is Happening’: Saudi Aramco’s Chief on Future of Oil

As Saudi Aramco, the Saudi national oil company, prepares for a widely-awaited initial public offering next year, its chief executive, Amin H. Nasser, is at the center of the planning. Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

Three Crucial Things We Still Don’t Know About the Aramco IPO

Riyadh leaves foreign investors confused about its intentions Finance Minister casts doubt on prospects for overseas sale The financiers and corporate chieftains gathered for Saudi Arabia ’s ‘Davos in the Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Saudi Arabia

Iraqi Kurds’ Independence Dreams Dashed as President Steps Down

Masoud Barzani, pictured voting in September’s Kurdistan independence referendum, will continue to play a role in politics without holding any formal position. The resignation is the latest fallout from the Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Iraq

Iraqi Kurds’ Independence Dreams Dashed as President Steps Down

Masoud Barzani, pictured voting in September’s Kurdistan independence referendum, will continue to play a role in politics without holding any formal position. The resignation is the latest fallout from the Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Iran

Barzani resigns, leaving unstable vacuum

Iraqi Kurdistan fell deeper into political turmoil Sunday as acting President Massoud Barzani announced his resignation and violent protesters stormed the regional Parliament building. In a written statement delivered to Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Iraq

Turns Out, the US Does Have That Iraqi Oil

Before America’s Twitter-loving president made it to the Oval Office, a recurring theme was that the U.S. should have gotten hold of Iraq’s oil after toppling Saddam Hussein. There’s this: Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • China

The Biggest Stock Collapse in World History Has No End in Sight

PetroChina, the first $1 trillion company, has sunk since 2007 The oil producer will report third-quarter earnings on Monday It’s going to take more than the biggest stock slump in Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • China

Factories across China’s industrial heartland struggle with soaring gas costs

Factories in China’s industrial heartland making everything from steel sheet to tofu and ceramics are struggling with soaring costs or facing closure as they wait for authorities to approve new Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Energy Storage

Air-Breathing Battery Makes Renewable Power Viable for the Grid

MIT researchers have developed an “air-breathing” flow battery that exhales oxygen, stores power for months, and costs about one-fifth of what current storage batteries cost to run. Air-Breathing Battery To Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • exports

U.S. oil exports boom, putting infrastructure to the test

Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Electric Cars

Automakers Build War Chests to Finance a Self-Driving Future

Detroit’s Big Three automakers are showing a new sense of bottom-line discipline as they angle for any advantage in the race with Silicon Valley, and one another, to develop the Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Shale Oil

US oil floated on cheap money

How much has the US oil industry been inflated, crushed and generally distorted by the Federal Reserve’s monetary force-feeding over the past nine years? According to my probing along the Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Arctic
  • Norway

Statoil will not give up on exploration in Arctic

The chief executive of Norway’s biggest oil company refused to give up on oil exploration in the country’s Arctic despite another disappointing drilling campaign this year.  Eldar Saetre, Statoil’s chief Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Russia

Russia Uses Its Oil Giant, Rosneft, as a Foreign Policy Tool

President Vladimir V. Putin of Russia, right, met with President Nicolás Maduro of Venezuela at the Kremlin this month. Russia is increasingly wielding oil as a geopolitical tool, spreading its Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Population

7.5 Billion People — That’s a lot!

As the inimitable Yogi Berra once said, “It’s tough to make predictions, especially about the future.” And indeed it is. Some guesswork is always involved and surprises crop up that Continue Reading

Posted On : 30 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Saudi Rhetoric Sends Oil Prices To Two-Year High

Comments made by Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS), sent Brent crude to its highest in more than two years, to US$59.30 a barrel, Reuters reports . West Continue Reading

Posted On : 28 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Brent oil above $60 level for first time since 2015

Brent crude oil hit $60 a barrel on Friday for the first time in more than two years, in the latest sign the market is tightening after a three-year glut. Continue Reading

Posted On : 28 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Oil up 2 percent, Brent hits $60 per barrel on support for extending curbs

Oil prices jumped about 2 percent on Friday, with global benchmark Brent crude rising above $60 per barrel, on support among the world’s top producers for extending a deal to Continue Reading

Posted On : 28 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Brent Oil Tops $60 for First Time Since 2015 Amid OPEC Optimism

Saudi Arabia backs extension of output-cut deal beyond March Crude futures in New York rise to highest in seven months Brent surged above $60 a barrel for the first time Continue Reading

Posted On : 28 Oct 2017 Published By : Tom Whipple
Category:
  • OPEC
  • Russia

Exclusive: OPEC’s head says Saudi, Russia statements ‘clear fog’ before November 30 meeting

The fog has been cleared ahead of OPEC’s next policy meeting by Saudi Arabia and Russia declaring their support for extending a global deal to cut oil supplies for another Continue Reading

Posted On : 28 Oct 2017 Published By : Tom Whipple
Category:
  • Prices

Here’s Where The OPEC Deal Gets Sticky

Oil prices plunged on May 25 when OPEC and its non-OPEC partners extended their production cut deal through March 2018. At the time, the market had not only expected deeper Continue Reading

Posted On : 28 Oct 2017 Published By : Tom Whipple

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