Oil in Global Economy Series: U.S. refinery capacity shut down hits 3.9 million barrels per day
Aug 31, 2017 12:16 pm UTC| Commentary
According to latest reports, the skies are clearing over Houston but the massive damage done by Hurricane Harvey is not going to be mitigated very easily. One of the most serious threats has been shutting down of oil...
Oil in Global Economy Series: Hurricane Harvey pushes Brent-WTI spread to highest in 24 months
Aug 29, 2017 12:11 pm UTC| Commentary
In the latest up bullish leg that began in June this year, the North Sea benchmark Brent has been a much better performer than the WTI. After bottoming around $42 per barrel, the North American benchmark WTI has gained...
Oil in Global Economy Series: US operating rigs decline to lowest since June
Aug 28, 2017 10:53 am UTC| Commentary
Last weeks report from Baker Hughes shows that operating oil rigs declined for a 5th time in 32 weeks. The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the U.S....
Oil in Global Economy Series: OPEC to reconsider production deal in November amid compliance slip
Aug 23, 2017 12:23 pm UTC| Commentary
OPEC members will seriously reconsider whether to continue with the current production agreement that aims to reduce global supply by 1.76 million barrels per day and was first agreed in November last year and was extended...
Oil in Global Economy Series: US operating rigs decline for 4th time in 31 weeks
Aug 21, 2017 08:23 am UTC| Commentary
Last weeks report from Baker Hughes shows that operating oil rigs declined for a 4th time in 31 weeks. The increasing numbers of operating rigs, as well as increasing production, have been raising concerns that the U.S....
Oil in Global Economy Series: OPEC defector Ecuador to increase ceiling by 20,000 barrels per day
Aug 18, 2017 07:47 am UTC| Commentary
Last month Ecuador became the first country to move out of the OPEC agreement that was reached in November last year and was extended at a May OPEC/N-OPEC meeting until March next year with an aim to bring down the...
Oil in Global Economy Series: Saudi exports drop to 33-month low in June
Aug 18, 2017 07:22 am UTC| Commentary
According to data compiled by JODI, the crude oil exports of Saudi Arabia, which is the de-facto leader of OPEC and the biggest producer in the cartel has declined to the lowest level in 33 months in June. In June, Saudi...
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