inventory

No significant inventory draw expected in Q1 2018, says Saudi's Falih

1 week ago DieselGasoil Comments Off on No significant inventory draw expected in Q1 2018, says Saudi's Falih
No significant oil inventory draws are expected in the next four months, Saudi energy minister Khalid al-Falih said Monday, meaning the global oil markets will not reach balance. “Our projection is that inventories will not draw significantly in the next four months, just as we have seen in 2017,” Falih told reporters at a press Read More

Oil steadies near $57/bbl before U.S. crude inventory data

1 month ago DieselGasoil Comments Off on Oil steadies near $57/bbl before U.S. crude inventory data
By Ben Sharples and Grant Smith on 11/8/2017 HONG KONG and LONDON (Bloomberg) — Oil steadied in New York before weekly data on crude inventories in the U.S., the world’s biggest oil consumer. Futures were little changed after slipping 0.3% on Tuesday, the first decline in four sessions. Crude inventories fell by 1.56 MMbbl last week, while motor-fuel Read More

OPEC said to see oil inventory glut disappear in one year

2 months ago DieselGasoil Comments Off on OPEC said to see oil inventory glut disappear in one year
By Wael Mahdi and Angelina Rascouet on 10/12/2017 LONDON and KUWAIT (Bloomberg) — OPEC expects its efforts to clear the surplus in oil inventories to finally succeed by the end of the third quarter of next year, said people familiar with the group’s internal forecasts. The Organization of Petroleum Exporting Countries and allies including Russian Read More

Oil's bull market rally stalls as traders await inventory data

2 months ago DieselGasoil Comments Off on Oil's bull market rally stalls as traders await inventory data
By Jessica Summers on 10/3/2017 NEW YORK (Bloomberg) — Oil bounced around near the $50/bbl mark awaiting reports on U.S. inventories. Futures traded in a 51 cent-range in New York. U.S. crude stockpiles are seen falling in a Bloomberg survey ahead of the release of weekly inventory data, yet Cushing supplies are seen increasing. Meanwhile, the Read More