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



Bearish news weighs on oil prices

By A/S Global Risk Management.



Image credit:


Updated on 05 Feb 2018 09:24 GMT

The number of active U.S. oil rigs increased last week according to the weekly count from Baker Hughes, for the second week in a row. The number is now 765, up 6 rigs from the week before. Compared to one year ago, the U.S. drillers have added almost 200 rigs. U.S. oil production is closing in on the two largest oil producers in the world, Saudi Arabia and Russia with a production around 9.91 mio. barrels per day.

Also weighing on prices was comments from Iranian oil minister over the weekend that the country can increase daily crude oil within a few days, should participants in the current oil production cut deal decide to end the deal later this year. The parties of non-OPEC and OPEC oil producers will meet in June to discuss the deal. Iran is OPEC's third-largest oil producer with a production of 3.83 mio. barrels per day in December.

Friday's upbeat U.S. jobs report lead to an increase in the dollar which traditionally weigh on oil prices.

Turning to economic data, this week is highly packed. Today, a row of European and U.S. Services PMIs are published and over the next days, various central banks' speeches are coming up.



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:

Brent hovering close to $70 in early trading

Latest News:

Verifavia signs up Wallem and Seaborn
The lowdown on bunker spill paperwork required in Singapore
MEPC 73: HFO ban events scheduled
Oil and fuel oil hedging market update
Brent climbs above $80 as supply concerns take centre stage
MEPC 73: IMO must renew commitment to Arctic HFO ban | CAA
IMO launches toolkits to tackle ship and port emissions
Bunker-saving JIT study presented at IMO HQ
Working group to finalize Initial Strategy programme for MEPC 73
Oil and fuel oil hedging market update
Bunker issues pack MEPC 73 agenda
Volatility around $80




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