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Morgan Stanley Slashes Oil Price Forecast For 2019

Morgan Stanley Slashes Oil Price Forecast For 2019

Investment bank Morgan Stanley has…

The Conference That Overshadowed OPEC

The Conference That Overshadowed OPEC

OPEC has been grabbing all…

News

Bad Weather Closes Libyan Oil Ports, 150,000 Bpd Output Shut In

Bad Weather Closes Libyan Oil Ports, 150,000 Bpd Output Shut In

Nov 30, 2018 at 15:47 | Tsvetana Paraskova

Several crude oil terminals in Libya have been closed due to inclement weather, with oil production in the country already down by 150,000 bpd and likely to drop by a…

Russia’s First LNG Import Terminal At Kaliningrad Nears Launch

Russia’s First LNG Import Terminal At Kaliningrad Nears Launch

Nov 30, 2018 at 15:34 | Tsvetana Paraskova

Russia’s first liquefied natural gas (LNG) import facility in the exclave Kaliningrad on the Baltic Sea is close to start-up, S&P Global Platts reported on Friday, citing vessel tracking…

Iran Exports To Asia Sink To 760,000 Bpd In October

Iran Exports To Asia Sink To 760,000 Bpd In October

Nov 30, 2018 at 13:55 | Irina Slav

Crude oil exports from Iran to Asian countries—its biggest clients—sank to an average daily of 762,000 bpd, official customs data and shipping data reported by Reuters revealed. This is…

Libya’s 2018 Oil Exports To China Double On 2017

Libya’s 2018 Oil Exports To China Double On 2017

Nov 30, 2018 at 12:51 | Irina Slav

The year is not yet over, but Libya’s crude oil exports to China in value terms are already worth twice as much as what the North African country exported to…

BP, Shell Launch Blockchain Oil Trading Platform

BP, Shell Launch Blockchain Oil Trading Platform

Nov 30, 2018 at 11:40 | Irina Slav

A blockchain-based oil trading platform dubbed Vakt and developed by a consortium involving BP and Shell began operating this week, Reuters reports, citing the consortium. The aim is to utilize…

Reuters Poll: Analysts Cut 2019 WTI Oil Price Forecast To $67

Reuters Poll: Analysts Cut 2019 WTI Oil Price Forecast To $67

Nov 30, 2018 at 09:50 | Tsvetana Paraskova

Although analysts expect that OPEC will decide to cut production, they revised down their forecast for average WTI price to $67.45 in 2019, as surging supply and unclear demand outlook…

Taiwan Firm Stops Importing Iranian Oil Despite Waiver

Taiwan Firm Stops Importing Iranian Oil Despite Waiver

Nov 29, 2018 at 13:49 | Tsvetana Paraskova

Due to lack of a payment mechanism, Taiwanese firm Formosa Petrochemical will not be buying Iranian oil despite a U.S. waiver to do so, and will replace part of its…

U.S. Official: Iran’s Oil Exports Set Plummet Further

U.S. Official: Iran’s Oil Exports Set Plummet Further

Nov 29, 2018 at 13:39 | Tsvetana Paraskova

Iranian oil exports are set to drop off very soon, Special Representative for Iran Brian Hook said at a press briefing on Thursday. The ‘maximum pressure’ campaign of the…

Is China Spying On Tesla?

Is China Spying On Tesla?

Nov 29, 2018 at 13:36 | Tsvetana Paraskova

Tesla and other electric vehicle (EV) companies in China send as many as 61 real-time data points, typically without the drivers’ knowledge, to monitoring centers backed by the Chinese government,…

U.S. Oil, Gas Reserves Hit Record Highs

U.S. Oil, Gas Reserves Hit Record Highs

Nov 29, 2018 at 13:23 | Tsvetana Paraskova

Higher prices and continued shale resource development helped push U.S. crude oil and natural gas proved reserves to new record highs in 2017, the Energy Information Administration (EIA) said in…

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