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



Saudi/Russia back exit from oil production deal, Libya supply disruptions

By A/S Global Risk Management.



Michael Poulson, Global Risk Management. Image credit: Global Risk Management


Updated on 15 Jun 2018 07:07 GMT

Oil prices dived slightly last night as Saudi Arabia and Russia stated that they "in principle" supported a gradual exit from the current oil production cut deal. The two parties met in Moscow - and the two nations also met in the first of the World Cup football matches in Russia. According to Saudi Arabia, the corporation between the two huge oil producers could continue beyond the current deal regarding the global oil markets. OPEC and a number of non-OPEC oil producers will meet in Vienna next week to discuss the oil market situation. According to Russia's Novak: "We in general support this... but specifics we will discuss with the ministers in a week."

In Libya, major ports Es Sider and Ras Lanuf were shut yesterday due to attacks - taking off 240,000 barrels of oil per day. The country has increased its oil production over the past two years, to more than 1 mio. barrels per day, but production remains fragile.

Tonight, the weekly oil rig count from Baker Hughes will be published. The past 3 weeks have shown increases in the number of active rigs in the U.S. and the number is now around a three-and-a-half-year high. Still some way from the 2014 peak of almost 1600 active rigs.

Turning to economic data, today sees Bank of Japan monetary policy statement and interest rate decision as well as Euro Zone inflation data.



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:

Weekly oil stocks, monthly oil report and mixed economic data
A/S Global Risk Management Ltd.
Singapore

Latest News:

Oil and fuel oil hedging market update
ScanOcean selected as eastern Sweden reseller for Neste's 0.1%S fuels
Oil and fuel oil hedging market update
Global central bank meetings and announcements
Risk minimisation in uncertain times | Geos Group
Bunker Energy takes over Maxcom Bunker's commercial activities
World Fuel Services to launch Pacific Northwest supply operation
Oil and fuel oil hedging market update
Brent remains in the $60s this morning
Oil and fuel oil hedging market update
$60s are hard to hold
Silverstream hails air lubrication uptake ahead of 2020




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