–> Singapore — Intermonth spreads for benchmark Dubai crude futures were trading sideways in mid-morning Sept. 25 amid an absence of fresh cues, with most
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Tag: OPEC
Dallas Fed sees the U.S. oil industry prioritizing output over debt
By Rachel Adams-Heard on 9/24/2020 HOUSTON (Bloomberg) – After all the trauma the U.S. oil industry has been through this year — from production cuts
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Libyan oil exports expand to third port as truce takes hold
By Salma El Wardany on 9/23/2020 (Bloomberg) –Libya’s state oil company reopened another port, the third to resume operation in less than a week, as
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OPEC+ agreement to reduce production contributes to global oil market rebalancing
September 23, 2020 Source: U.S. Energy Information Administration, Short-Term Energy Outlook, International Energy Statistics, and internal estimatesNote: Production data for OPEC countries are crude oil
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China ramps up US crude oil imports as elections near
China has been buying a lot of US crude oil lately as part of the trade deal, but this buying spree could be about to
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US shale production can reach new highs beyond 13 million b/d, but needs $60/b: Rystad
Highlights Up to 11 million b/d of shale output needed for future demand Capital spend fell 50% in 2020 but starts to recover in 2022
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U.S. crude oil exports have fallen in each month since their record high in February
September 22, 2020 U.S. crude oil exports reached a record high in February 2020 and have since fallen in each month, based on data through
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Iraq’s Kurdish region is source of possible smuggling, non-compliance with OPEC+ cuts: deputy PM
Highlights Kurdish region is producing 450,000 to 470,000 b/d Potential unknown amount of smuggling from oil fields, trucking Iraq has flouted its quota for most
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Crude prices recover even as bearish fundamentals persist
Singapore — 0316 GMT: Oil futures recovered slightly during the mid-morning trade in Asia Sept. 22, after the prospect of renewed lockdowns amid a potential
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Oil slides 4% as COVID resurgence, Libyan production restart rattle fundamentals
Highlights UK considers new lockdowns amid COVID surge Libya’s NOC lifts force majeure on some oil fields and ports GOM crude production climbs post-Sally –>
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