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





Oil dips on EIA report, oil stock builds

11 Jan 2017 08:00 GMT

By A/S Global Risk Management.



By Michael Poulson, A/S Global Risk Management

Oil prices are close to one-month low as markets are trying to determine the impact of increased U.S. production versus OPEC deal compliance.

In its monthly report, published yesterday, the Energy Information Administration foresees an increase in U.S. crude oil production to 9 mio. barrels per day, up from 8.89 mio. barrels last year. For 2018, estimated production will be 9.3 mio. bpd.

Iraqi oil minister confirms the country's compliance with the agreed oil production cut, despite alleged increase in oil exports which we mentioned in our Market Briefing yesterday. The reduction in production is 160,000, slightly short of the agreed 210,000 barrels per day production cut (from October levels).

The American Petroleum Institute (API) published its weekly oil stocks report last night and it pointed to a 1.5 mio. barrel-build; far from previous reading of 7.4 mio. draw in crude oil stocks. The last 6 weeks have shown seesaw data with one week of builds, one week of draws. Both gasoline and distillates stocks climbed as well. Now this afternoon's EIA oil inventory report will be followed closely and could cause additional market 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.


Image: Michael Poulson, Oil Risk Manager at A/S Global Risk Management. Image credit: A/S Global Risk Management




Related Links:


Latest News:

E+H and Sinanju top MFM rankings in Singapore
Petrobras unveils double-hull bunker barge fleet in Santos
Dan-Bunkering announces senior trader promotion
Singapore achieves best 12-month sales figure in its history
Sentek named Singapore's top supplier by sales volume in 2017
Oil and fuel oil hedging market update
Oil continues uptrend despite additional active U.S. oil rigs
Gazpromneft Ocean lubricant brand presented in China
Balearia to showcase fuel-related projects in Madrid
Global Risk Management announces new hire
Global Risk Management forms new board of directors
Brent briefly reached $70 yesterday... the highest since 2014




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 de Janeiro
Rotterdam
Santos
Singapore
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
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events