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 slightly down as U.S. could be ramping up production

By A/S Global Risk Management.



Image credit:


Updated on 13 Nov 2017 09:34 GMT

Oil prices weakened slightly on Friday as the weekly oil rig count from Baker Hughes showed an increase in the number of active drilling rigs of 9 to currently 738 rigs, the largest increase since June, and completely the opposite of the week before which pointed to a drop in the number of oil rigs of 8. It could be a sign that the higher oil prices induce increases in U.S. crude oil production.

Geopolitical risk premium in the Middle East remains high as markets are closely watching Saudi Arabia's recent ramp up of both internal and external rhetoric and tensions. Two other OPEC members - Iraq and Venezuela - also struggle with tensions, the first over Kurdish independence vote, the latter over financial problems.

Over the next two weeks, all eyes and ears will be on any comments from OPEC members ahead of the meeting later this month where we will likely finally find out if the parties will agree to prolong the current oil production deal, for how long and how deep a potential cut will be.

The week on the economic data front sees EU growth numbers, U.S. CPI and retail sales along with a string of central bank speeches.



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:

Intraday oil spike on geopolitical fears
A/S Global Risk Management Ltd.

Latest News:

Concept ship shows IMO CO2 reduction targets can be met: Project Forward
Oil and fuel oil hedging market update
Tallink signs LOI to build second LNG-fuelled ferry
Will Saudi Arabia be able to replace Iranian oil?
North Sea Port sees biggest LNG bunker delivery to date
Gaseous fuels 'the only way forward': MAN CSO
Fluxys and Novatek sign Rostock lease for LNG terminal, bunkering
ExxonMobil launches new Mobilgard lube for high-speed diesel engines
Oil market closed higher following API draw
Oil and fuel oil hedging market update
GTT and Dongsung Finetec sign MoU to market LNG Brick bunker tank
IMO 2020: Ship managers 'concerned' about impact on crew safety




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
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