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EU ban on Russia could affect 3M barrels crude per day: Fitch
- Russia’s total production projected to decline by 2-3M barrels per day by end-2022, says global rating agency
OPEC revises down oil demand forecast for 2022
- Downward demand growth revisions take account of economic forecasts and other developments that could impact oil requirements, OPEC says
OPEC+ to maintain same production plan for June
- Next meeting of OPEC and non-OPEC members scheduled for June 2
US crude oil inventories up 0.3% for week ending April 29
- Commercial crude oil stocks increase by 1.3 million barrels, against market expectation of 1.16 million-barrel drop
Turkiye's energy import bill up 154.7% in March
- Country's crude oil imports increase by 11.2% compared to March 2021
US crude oil inventories up 0.2% for week ending April 22
- Commercial crude oil stocks increase by 700,000 barrels, against market expectation of 2.16 million-barrel rise
Biden to unveil homegrown biofuels to mitigate oil price hike
- US Department of Agriculture to provide up to $700M funding through new biofuel producer program
13.04.2022
Americas
Global oil output rises by 370,000 barrels per day in March
- OPEC crude oil output averages 28.56 million barrels per day in March, marking an rise of about 57,000 barrels per day month on month
Oil up as China eases pandemic restrictions, OPEC warns of supply risks
- OPEC warns EU that sanctions on Russia could create severe oil supply shocks, the supply gap from which would be impossible to replace
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US crude oil inventories up 0.6% for week ending April 1
- Commercial crude oil stocks increase by 2.4 million barrels, against market expectation of 1.6 million barrel fall
WoodMac expects relocation of some 650,000 barrels per day of Russian oil
- Reshuffling is attractive at current Urals discounts but refiners face challenges with contractual obligations with Middle Eastern producers, agency warns
OPEC ends reliance on International Energy Agency data
- Wood Mackenzie and Rystad Energy will be used as secondary sources with immediate effect
OPEC+ confirms to continue previously-agreed output plan
- Next meeting of OPEC and non-OPEC members is scheduled for May 5
Oil down as US due to announce massive oil release from emergency stocks
- Country is currently holding 568.3 million barrels of crude oil in its reserves
US crude oil inventories down 0.8% for week ending March 25
- Commercial crude oil stocks decrease by 3.4 million barrels, against market expectation of 1.6 million barrel fall
US crude oil inventories down 0.6% for week ending March 18
- Commercial crude oil stocks decrease by 2.5 million barrels, against market expectation of 25,000-barrel rise
Global oil output rises by 960,000 barrels per day in February
- OPEC forecast remains unchanged for global oil demand in 2022, with growth of 4.2 million barrels per day, due to recent developments
UAE energy minister expresses commitment to OPEC output plan
- Show of support from UAE minister for OPEC plan comes after country’s ambassador to US said UEA supports production rise from OPEC+ group
US crude oil inventories down 0.5% for week ending March 4
- Commercial crude oil stocks decrease by 1.9 million barrels, against market expectation of 833,000-barrel fall
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US gasoline prices hit highest levels in 10 years
- Average price up almost 40% from last year
Is Iranian oil solution to curtailing rising oil prices?
- Positive nuclear talks developments strengthen expectations of return of roughly 1 million barrels per day of Iranian oil to market by year end
OPEC+ to keep output unchanged despite growing pressure to increase
- Next meeting of OPEC and non-OPEC members is scheduled for March 31
Brent oil hits over $106 due to uncertainties ahead of OPEC+ meeting
- Fear of supply disruptions from new sanctions against Russia, as well as counter-sanctions by Russia, drives prices up
OPEC+ under pressure to pump more oil due to supply risks from Russia-Ukraine crisis
-Experts warn of record price surges if OPEC+ insists on current production levels
US crude oil inventories up 0.3% for week ending Feb. 11
- Commercial crude oil stocks increase by 1.1 million barrels, compared to market expectation of 1.8 million-barrel drop
Oil prices to hit over $100 per barrel in 2022: Analysts
- Declining OPEC+ spare capacity poses threat for oil market while tension in Eastern Europe exerts additional price pressure, says Int. Energy Agency
Global oil output rises by 0.71 mln. barrels per day in Jan.
- OPEC forecast remains unchanged for global oil demand in 2022, with growth of 4.15 million barrels per day
Brent posts over 5% gain to near $93 in week ending Feb. 4
- Commercial crude inventories fall by 1 million barrels to 415.1 million barrels, exceeding expectations of a stockpile build to bolster prices