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 around 1-month high as focus turns to production cut agreement

By A/S Global Risk Management.



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


Updated on 19 May 2017 08:16 GMT

By Michael Poulson, A/S Global Risk Management

The last couple of months have proved that oil is one of the world's most volatile commodities - Brent has fluctuated from around $56 in March, down to $47 - and is currently back up to around $53. Expect additional volatility in the week to come as markets try to digest news and comments regarding the upcoming OPEC meeting in Vienna on 25 May. Both OPEC and non-OPEC oil producers will meet to discuss a potential extension of the current oil production cut deal - except the U.S.

Tonight, the weekly oil rig count from Baker Hughes will be followed closely - for several months the number of active drilling rigs in the U.S. has increased along with shale oil production. Same time a year ago, the rig count showed 318 active rigs, now the number is over 700.

Turning to economic data, yesterday, the Japanese GDP came out improved to 0.5% (0.3% previous) and U.S. Philadelphia Fed Manufacturing Index for May beat expectations (38.8 versus 22.0 previous). There are not major economic data releases today.



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:

Oil and fuel oil hedging market update
Expect a volatile day as OPEC meets in Vienna to discuss policy
Coral Methane's conversion to LNG bunker vessel completed
First LNG bunkering of Fure Vinga in Amsterdam
Grimaldi opts for scrubbers and batteries, decides LNG retrofits 'not viable'
LNG bunker supplier Fenosa receives first Yamal LNG cargo
Shipbrokers Exeno Yamamizu and Fearnleys join SEA\LNG
Oil and fuel oil hedging market update
Port of Gdynia, PGNiG sign LOI to build LNG bunker barge
The day before the official OPEC meeting
Gulf of Mexico's first OSV hybrid power installation completed
CMA CGM's takeover of Containerships sees LNG advocates join forces




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