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The U.S. shale response to Saudi attacks? Not much, says IHS Markit

3 hours ago DieselGasoil Comments Off on The U.S. shale response to Saudi attacks? Not much, says IHS Markit
9/18/2019 WASHINGTON – The initial 15% oil price jump resulting from the attacks in Saudi Arabia will not have any impact on the trajectory of 2019 U.S. shale production, IHS Markit says. “Looking ahead, any effect on 2020 growth will also be muted unless prices are sustained above the mid-$70s level,” said Raoul Leblanc, executive Read More

U.S. trade groups urge Congress to rein in ‘Tariff Man’ Trump

6 hours ago DieselGasoil Comments Off on U.S. trade groups urge Congress to rein in ‘Tariff Man’ Trump
WASHINGTON (Reuters) – Nearly two dozen U.S. lobbying groups have joined forces to try to rein in U.S. President Donald Trump’s power to unilaterally impose tariffs amid growing concern about the negative economic impact of his trade policies. FILE PHOTO: U.S. President Donald Trump walks to address the media before boarding Marine One for a Read More

Saudi oil attacks came from ‘north’ not Yemen: defense ministry

7 hours ago DieselGasoil Comments Off on Saudi oil attacks came from ‘north’ not Yemen: defense ministry
London — The Saudi oil attacks over the weekend that took down half of the country’s output did not originate from Yemen and were likely launched from the “north”, a defense ministry spokesman said Wednesday, refusing to point the finger directly at Iran. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

Saudi oil output unlikely to be fully restored as quickly as officials say: analysts

8 hours ago DieselGasoil Comments Off on Saudi oil output unlikely to be fully restored as quickly as officials say: analysts
Highlights Saudi Arabia needs more time to repair damage Drawing down stocks will continue Domestic oil burn likely to rise after attacks London — Saudi oil output is unlikely to be fully restored in the next couple of weeks despite assurances by Saudi officials and a drawdown of oil stocks to keep exports flowing, according Read More

Saudis keep oil flowing as they patch up wounded industry

12 hours ago DieselGasoil Comments Off on Saudis keep oil flowing as they patch up wounded industry
By Anthony DiPaola on 9/18/2019 DUBAI (Bloomberg) – Saudi Arabia reassured anxious customers that crude exports will keep flowing as normal and its industry can recover quickly from the worst attack in its history. Crude prices fell after Tuesday’s long-awaited statement from the kingdom — which pumped almost 10% of the world’s oil before the Read More

Libya restores storage capacity at Ras Lanuf terminal: NOC

12 hours ago DieselGasoil Comments Off on Libya restores storage capacity at Ras Lanuf terminal: NOC
London — Storage capacity at Libya’s key 220,000 b/d Ras Lanuf oil terminal has increased following renovation work, state-owned National Oil Corporation said late Tuesday, after a number of storage tanks were destroyed by Islamic State militants in January 2016. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “This Read More

Niger’s oil export hopes advance as Benin pipeline works start

12 hours ago DieselGasoil Comments Off on Niger’s oil export hopes advance as Benin pipeline works start
London — Niger’s president this week launched construction work on a new oil pipeline running from the landlocked country into neighboring Benin, which is set to help Niger achieve its ambitions of becoming a crude exporter. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now President Mahamadou Issoufou lay the Read More

Saudi oil outage impact following attacks on refineries not as bad as predicted

15 hours ago DieselGasoil Comments Off on Saudi oil outage impact following attacks on refineries not as bad as predicted
The attacks on Saudi oil facilities that led to the largest ever disruption in oil markets might not last for several months, and therefore, additional supply from the Strategic Petroleum Reserve isn’t necessary. The outage at Abqaiq is not just a problem because of the immediate impact on production, but also because it takes much Read More

Analysis: Vietnam turns to US crude as Middle East jitters raise energy security concerns

15 hours ago DieselGasoil Comments Off on Analysis: Vietnam turns to US crude as Middle East jitters raise energy security concerns
Highlights BSR to buy 2 mil barrels of WTI Midland crude for Q4 delivery Light sweet Nigerian Bonny Light crude also on shopping list Government removes import tax on crude oil Singapore — Vietnam is feeling the pressure to secure adequate crude supply as geopolitical tensions in the Middle East continue to raise Asia’s energy Read More

Asian gasoline retreats on Saudi reassurance it will restore output in 2 weeks

18 hours ago DieselGasoil Comments Off on Asian gasoline retreats on Saudi reassurance it will restore output in 2 weeks
Singapore — Asian gasoline cracks plunged mid-morning Wednesday from multi-month highs, after overnight news that Saudi Arabia will restore most of its crude production at its affected Abqaiq oil processing facility within two weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Based on indications from market participants at Read More