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Wed 2 Dec 2015, 09:33 GMT

Market Briefing


Surprise build in U.S. crude stock, volatility ahead of today's data (Brent: $44.2).

Surprise build in U.S. crude stock, volatility ahead of today's data (Brent: $44.2)

Yesterday's weekly API oil stocks data showed a surprise build of 1.6 mio. barrels where a decline of 1.2 mio. was expected. Now the official EIA report this afternoon will be followed closely - should we see another build today, this could cause some volatility and weigh on oil prices.

Ahead of Friday's summit, November OPEC output data shows an increase to 31.77 mio. barrels per day (from 31.64 in October). Iraq and Saudi Arabia were main contributors to the increase in the fight for market share, Iraq with output at 3.66 mio. bpd. and Saudi Arabia at 10.25 mio. bpd. Angola, Nigeria and Libya output declined.

Hopes of OPEC curbing oil production at the meeting on Friday seem fading as Russia has decided to skip pre-meeting consultations in Vienna between OPEC and non-OPEC oil producing countries. Among other countries, Saudi Arabia has advocated closer cooperation between OPEC and non-OPEC countries to curb recent oil price drop.

Apart from the oil inventory report this afternoon, today sees EU inflation, U.S. employment report and Fed's Yellen speech in Washington.

BP  
Factory Acceptance Testing (FAT) for X52DF-A-1.0 engine. WinGD completes factory testing of ammonia-fuelled engine for LPG carrier  

X52DF-A-1.0 engine tested in China ahead of installation on first of four vessels under construction.
Drift Energy energy-harvesting ship render. RINA awards first approval in principle for energy-harvesting ship  

Drift Energy receives certification for vessel design that generates clean energy at sea.
MSC World Europa vessel. MSC Cruises achieves flag state recognition for verified methane emissions data  

Bureau Veritas certifies actual methane slip values for two LNG-fuelled cruise ships.
IBIA and EENMA MoU signing. IBIA and Greek shortsea shipowners sign cooperation agreement  

The International Bunker Industry Association partners with EENMA to support the marine fuels sector.
Hapag-Lloyd and Scan Global Logistics logos. Scan Global Logistics and Hapag-Lloyd expand biofuel partnership to cut shipping emissions  

Collaboration claims to avoid 8,500 tonnes of CO₂e emissions through second-generation biofuels.
Lapis Ace ship-to-ship LNG bunkering operation. MOL signs first annual LNG bunkering contract for car carriers in Vancouver  

Japanese shipping company secures year-round fuel supply with Seaspan Energy at Canadian port.
Gasum's LNG bunkering vessel Coralius. Gasum’s maritime bio-LNG sales surge from 0.8% to 12.3% in 2025  

Nordic energy company attributes growth to FuelEU Maritime regulation introduced in 2025.
Port Authority of Valencia board meeting. Valenciaport gives LNG bunkering go-ahead to Shell and Axpo Iberia  

Port authority approves two LNG bunkering authorisations as part of its decarbonisation strategy.
Northern Purpose naming ceremony. BSM enters LCO₂ carrier segment with management of dual-fuel Northern Purpose  

Bernhard Schulte Shipmanagement takes over first liquefied carbon dioxide carrier for Northern Lights project.
Anna Cosulich vessel. Fratelli Cosulich takes delivery of methanol-ready bunker tanker Anna Cosulich  

Vessel built in China will head to Singapore to support group's bunkering operations.




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