OPEC sees 33.40 mil b/d demand for its crude oil in H2 2018, but July output at 32.32 mil b/d

OPEC still has to show the market more crude oil barrels if it wants to avoid a supply squeeze later this year, the producer group’s own analysis shows. In its closely watched monthly oil market report, OPEC’s analysis arm forecast global demand for OPEC’s crude at 33.40 million b/d for both the third and fourth
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The Trump administration forecasts that it will persuade countries to cut Iranian oil imports by as much as 1 million barrels a day when it reimposes energy sanctions in early November, according to two people familiar with the administration’s efforts to choke off Tehran’s crude sales. The assessment forecasts a range of likely cuts of
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The chief commodity researcher at Goldman Sachs says the bull case for oil remains in tact despite an escalating trade dispute between the world’s two biggest economies that has stoked fears of weakening demand for crude. U.S. crude settled at a seven-week low below $67 a barrel on Thursday. It is now on pace for
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Following strong demand growth in 1Q18, in 2Q18 and 3Q18 the pace has slowed dramatically to a relatively subdued 1 mb/d. In 4Q18 we expect a rebound and demand will be 100.2 mb/d. For 2018, our global demand growth outlook is unchanged at 1.4 mb/d. In 2019 growth accelerates slightly to 1.5 mb/d, but there
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Global shipping and logistics company Wallenius Wilhelmsen will most likely use a mix of low sulfur fuel oil as well as HSFO with scrubbers to meet the International Maritime Organization’s global sulfur limit rule for marine fuels. The implementation of the IMO 2020 0.5% global sulfur cap represents a challenge and risk for the shipping
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The U.S. in the next five years will become an energy exporting powerhouse — rivaling Saudi Arabia in oil exports and growing into one of the world’s largest gas exporters, regardless of its trade spat with China, analysts said. China slapped tariffs on a range of oil products, liquid petroleum gas and coal, as well
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The key OPEC oil producers seem to be finding it harder than expected to sell their output overseas. The probable resulting build-up in their stockpiles should at least help them offset the drop in Iranian supplies as U.S. sanctions start to bite deeper. Crude oil exports from the five Persian Gulf Arab members of OPEC
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NEW DELHI: India is planning to set up a liquefied natural gas (LNG) import terminal in Myanmar as it looks to expand energy diplomacy in its neighbourhood, Oil Minister Dharmendra Pradhan said. The terminal to import super-cooled natural gas will be in addition to the similar facilities planned by Indian firms in Bangladesh and Sri
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Top oil exporter Saudi Arabia pumped around 10.290 million barrels per day of crude in July, two OPEC sources said on Friday, down about 200,000 bpd from a month earlier. The amount of oil supplied to the market in July was slightly higher at 10.380 million bpd, the sources said. Supply to the market –
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Saudi Arabia pumped close to its all-time high in July and several of its OPEC brethren posted their largest crude oil output figures in more than a year and a half, as the bloc appears to be following through on its agreement to unleash more barrels on the market. OPEC produced 32.66 million b/d in
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