Search results for: Crude

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  • 16 February 2017

    By Rania El Gamal RIYADH (Reuters) – OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non-OPEC oil producers, agreed late last year to cut output by […]

  • 3 April 2020
    Business & Finance, Outlook & strategy, Vessels

    Saudi Arabia’s decision to flood the market with crude oil at a time when demand is in doldrums amid coronavirus pandemic is about to create a massive supply-demand imbalance, says BIMCO’s Chief Shipping Analyst, Peter Sand. Liquid fuels production and consumption will be imbalanced during much of 2020 with total production estimated at 102.2 million […]

  • 2 March 2017

    Following the lifting of sanctions against the Islamic Republic of Iran in early 2016, seaborne demand for Iranian crude has more than doubled, according to a report released by VesselsValue. In the past five years, the greatest demand for Iranian crude came from China, Japan and South Korea, respectively. Excluding the Iranian domestic trade the […]

  • 22 August 2019
    Business & Finance

    The expected investment increased to around USD 6.5 million, from the previously guided USD 5.5 million per vessel.

  • 27 July 2016

    By Karolin Schaps LONDON (Reuters) – Oil prices fell close to three-month lows on Wednesday after U.S. industry data showed weekly oil stocks declined by less than expected, feeding into concerns over persistent oversupply dragging down prices. Global benchmark Brent crude <LCOc1> was on track for the first monthly loss since January and the largest […]

  • 7 September 2016

    By Osamu Tsukimori TOKYO (Reuters) – Oil prices erased early losses to trade higher on Wednesday partly due to a weaker dollar, but gains were limited as market participants remained sceptical producers would reach an agreement to freeze output to rein in a global supply glut. London Brent crude for November delivery <LCOc1> was up 23 […]

  • 26 January 2016

    The crude oil tanker market is expected to grow strongly in 2016, with projected fleet increase of 4.3%, BIMCO said. Most of the new tankers will be delivered in the second half of 2016 and the demolition activity is likely to stay subdued as the market enjoys high rates. Following a considerably quiet ordering activity […]

  • 27 August 2019

    Total seaborne U.S. crude oil exports increase to a record high at 11.9 million tonnes in June 2019.

  • 4 January 2019

    China surpassed the US in annual gross crude oil imports in 2017, according to EIA.

  • 12 October 2016

    By Ron Bousso ISTANBUL (Reuters) – While OPEC and other big crude producers work towards a deal to cap production to erode a glut, industry executives are concerned the sharp drop in investment that followed the oil price crash could lead to another crisis – a supply shortage. Over $1 trillion (£0.82 trillion) worth of […]

  • 17 August 2016

    Oil fell for the first time in a week on Wednesday, but remained in sight of six-week highs, as investors weighed up how successful potential talks among producers to rein in ballooning oversupply would be.

  • 29 June 2017

    By Karolin Schaps LONDON (Reuters) – Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session after a decline in weekly U.S. production eased concerns about deepening oversupply. Crude prices slipped to the lowest in 10 months last week but have since rebounded more than 7 percent, stretching […]

  • 3 May 2017

    By Naveen Thukral SINGAPORE (Reuters) – Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record supplies capped gains. The benchmark for global oil market, Brent futures gained 47 cents, or 0.9 percent to $50.93 […]

  • 19 September 2016

    Oil prices rose on Monday from multi-week lows after Venezuela said OPEC and non-OPEC producers were close to a deal to stabilise the market and as clashes in Libya disrupted attempts to boost crude exports.

  • 28 July 2014

    The Port of Corpus Christi has reported that their statistics for June, 2014 show the continuing upward trend of outbound shipments.   Measured in barrels per day (b/d), crude and condensate is up at 551,934 b/d in June of 2014 compared to 341,824 b/d for June of 2013. June shipments also rose 5% month on month, […]

  • 3 August 2016

    By Alex Lawler LONDON (Reuters) – Oil edged higher to $42 a barrel on Wednesday after hitting its lowest since April the previous day, supported by an industry report showing a fall in U.S. inventories and a weaker dollar. But prices could struggle to make much headway, analysts said, as sentiment remains bearish. A supply […]

  • 5 February 2020

    Wood Mackenzie has lowered its oil demand forecast for Q1 2020.

  • 21 August 2017
    Business & Finance

    China has risen as the world’s largest importer of crude oil, moving ahead of the United States, according to data provided by Gibson Shipbrokers. Namely, China reached an average of 8.55 million b/d of crude oil imports in the first half of 2017 compared with 8.12 million b/d imported by the United States. The ship broking company said that […]

  • 27 November 2014

    Worldscale rates for VLCCs on the East of Suez routes have reached more than nine-month highs, Platts cited market participants as saying Thursday, November 27. The peak has been attributed to strong demand to move crude in the winter season, tight supply as charterers combine smaller cargoes and bullish owner sentiment. The key Persian Gulf-to-Japan route was […]

  • 5 August 2016

    By Henning Gloystein SINGAPORE (Reuters) – Oil prices fell by 1 percent on Friday as a crude and refined product glut weighed on markets and investors eyed a possible stutter in China’s imports, ending a two-day short-covering rally. U.S. West Texas Intermediate (WTI) crude futures were trading at $41.50 per barrel at 0652 GMT, down […]

  • 21 September 2016

    By Amanda Cooper LONDON (Reuters) – Oil prices jumped 2 percent on Wednesday after a surprisingly large drop in U.S. crude inventories and as an oil services workers strike in Norway threatened to cut North Sea output. Brent crude futures <LCOc1> were up 91 cents at $46.79 per barrel by 1113 GMT, while West Texas […]

  • 1 August 2016

    By Henning Gloystein SINGAPORE (Reuters) – Oil rose on Monday, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by plentiful crude supplies, a flood of refined products, and a weakening economic outlook. Brent crude was at $43.72 per barrel at 0440 GMT, […]