• 3 minutes Biden Seeks $2 Trillion Clean Energy And Infrastructure Spending Boost
  • 5 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 8 minutes Gazprom fails to exempt Nord Stream-2 from EU market rules
  • 31 mins China wields coronavirus to nationalize American-owned carmaker
  • 58 mins Open letter from Politico about US-russian relations
  • 2 days Trumpist lies about coronavirus too bad for Facebook - BANNED!
  • 9 hours Renewables Overtake Coal, But Lag Far Behind Oil And Natural Gas
  • 4 hours US will pay for companies to bring supply chains home from China: Kudlow - COVID-19 has highlighted the problem of relying too heavily on one country for production
  • 2 days China's impending economic meltdown
  • 2 days Why Oil could hit $100
  • 1 day Liquid Air Battery
  • 1 day What the heroin industry can teach us about solar power (BBC)
  • 2 days Rational analysis of CV19 from Harvard Medical School
  • 2 days The Truth about Chinese and Indian Engineering
  • 2 days Brent above $45. Holding breath for $50??
  • 2 days Pompeo upsets China; oil & gas prices to fall
  • 3 days The World is Facing a Solar Panel Waste Problem
Oil Prices Rise On Renewed Stimulus Hopes

Oil Prices Rise On Renewed Stimulus Hopes

Oil prices rose early on…

Massive Losses Force Glencore To Slash Dividends

Massive Losses Force Glencore To Slash Dividends

The coronavirus-fueled demand destruction of…

Editorial Dept

Editorial Dept

More Info

Premium Content

Shipping Costs Could Soon Soar

Market Movers

- The International Maritime Organization’s new fuel rules begin on January 1 and reduce the limit on sulfur in fuel oil from 3.5% to 0.5% - a figure that could have a major impact on markets, even if ships only constitute between 5% and 7% of global transport oil demand. This will spark significant competition for low-sulfur fuel that refineries aren’t set up to produce. For investors, it could be a lucrative new game of hedging the right bets. Analysts cited by WSJ predict that the $350-per-metric ton gap between prices of very-low-sulfur fuel and high-sulfur fuel could wide to $1,000 in 2020. That means shipping costs could skyrocket before everyone has a chance to adjust. We can already see the market responding as prices of Abu Dhabi’s Murban crude grade dropped over the past week as refiners sought out lower-sulfur marine fuel. On Thursday last week, Murban was trading at a discount of $0.15 to its OSP, compared to a premium of $0.25 to the OSP just days earlier.

Discovery & Development

- On December 20th, Guyana officially produced its first-ever oil, courtesy of ExxonMobil in the offshore Stabroek Block. Output in the first phase of production is set to reach 120,000 bpd, with first cargo to be sold in a couple of weeks. By 2025, production is expected to hit 750,00 bpd.

- Saudi Arabia and Kuwait have signed a deal on their Neutral Zone to end a five-year dispute and reopen oil fields that have the potential…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News