The fire in Canada, attacks in Nigeria , and economic problems and the Zika virus in Venezuela led to supply problems and the highest prices in seven months on May Deadlines for Terminals and Retailers The May 1 compliance deadline for terminals fully purge their systems of winter-blend fuels is considered one of the biggest factors in seasonal price increases. The concern was access to the Suez Canal , which appears unlikely to be a problem but still concerns companies. Unlike in the spring, the change to winter-blend fuel is not required. Archived from the original on May 11, And those countries that are both producers and consumers may face renationalisation initiatives as global demands disrupt stabilisation of domestic energy markets. Your email address will not be published.
Mega Projects: Keeping On Track When Oil Price Is At Rock Bottom
The fear of missing out takes over, and that pushes trades to irrational limits. Today, the massive run higher in oil has come to an end. Iran's frustrations with oil and gas fields. The demand side has historically given the oil and gas sector a happy face. Supply, particularly from the U.
Two big producers just called the bottom on oil prices: $60 a barrel
The agency estimates that the U. This article is full of inaccuracies and lack of hard evidence to support claims made by the author and those whom he quoted in his article. Going forward, OPEC will likely calibrate production levels to avoid a sharp decline in prices. Goldman argues that data in emerging markets is lacking, and demand figures tend to be retroactively revised higher later on. This will be underpinned by robust global oil market fundamentals which have maintained their robustness despite a bunch of fickle analysts and investor bankers trying to talk them down. Enormous production increases tend to come 9 to 12 months after a shift in oil prices. That also included a scheduled release of oil from the strategic petroleum reserve, a volume that was previously legislated by Congress.
He is a regular contributor to The Blog. After eight days of gains due to an expected end in a rise in U. Read the latest issue of NACS Magazine for a monthly dose of insights, industry data and best practices from leading retailers. Despite the promises of lower output from other countries, no evidence of changes was seen. Exceptions to the Rule Summer-blend fuel requirements may be relaxed in times of emergencies or when potential shortages are possible.
5 days ago