BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





Production cuts remain in focus

10 Jan 2017 09:28 GMT

By A/S Global Risk Management.



By Michael Poulson, A/S Global Risk Management

Brent oil Price dropped below $55 yesterday but is back just above at time of writing. Mixed news on the output cut agreement compliance keeps taking headlines and makes oil prices fluctuate. Oil prices dropped yesterday as Iraq oil exports from the southern ports in December came around 3.51 mio. bpd. The country agreed to cut oil 210,000 bpd. Libya reports of increasing production - above 700,000 bpd. - which is around 3-year highs.

Russia - which agreed to cutting 300,000 barrels per day - has allegedly reduced output by 100,000 barrels per day in January compared to December to 11.1 mio. barrels per day. The agreed 300,000 barrel-reduction "counts" from October's level of 11.247 mio. barrels per day for the huge oil producer.

Tonight, the weekly API oil stocks data is published - consensus is slight increase in crude oil stocks. Last week saw huge draws in crude oil stocks, builds in distillates and gasoline stocks.

Turning to economic data front, overnight Chinese inflation data came out mixed with consumer prices increasing less than expected, but producer prices at 5.5% (4.5% previous). Today sees U.S. jobs report. Tomorrow, President-elect Trump will hold a press conference - markets will look for hints of economic policy direction and we could see some additional volatility.



A/S Global Risk Management is a provider of customised hedging solutions for the management of price risk on fuel expenses. The company has offices in Denmark and Singapore. For further details about its risk management products and services, please call +45 88 38 00 00 or email hedging@global-riskmanagement.com.




Related Links:

A/S Global Risk Management Ltd.

Latest News:

Cockett strengthens commercial team with three hires
Izmit Bay: letters of protest after fuel oil spill
Project to produce hydrogen fuel at BP's Rotterdam refinery
OOIL denies takeover bid
Oil and fuel oil hedging market update
Market is looking for direction
Trump's EPA nominee backs biofuels plan, but open to changes
Dan-Bunkering hires bunker trader in Denmark
China's 0.5% sulphur cap: key facts
Oil and fuel oil hedging market update
API points to draw in crude oil stocks, watch out for this afternoon's EIA report
Ships earning green discount up 83% in Gothenburg




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
Directory
Africa
Asia
Central America
Middle East
North America
North Europe
Oceania
South America
South Europe
Directory
Germany
Gibraltar
Greece
Hong Kong
Italy
Japan
Netherlands
Panama
Russia
Singapore
South Africa
South Korea
Spain
Turkey
United Arab Emirates
United Kingdom
United States
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Events
Upcoming Events