2018: The Year Of The Oil Bulls.
Oil started this year with further price gains despite the quick restart of the Forties pipeline and the equally quick repairs of a pipeline in Libya, where a pipeline blast boosted Brent and WTI in the last days of 2017. Usually, such force majeure events are quick to push prices…
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JanLibya oil production is back to normal after repairs finished at key oilfield.
Repairing has been finished on the Libyan oil pipeline that has been damaged in a suspected attack five days ago, engineers working at the site said, according to a source. The engineers added that the oil production is restarting gradually after a blast and resulting fire on Tuesday about…
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JanLibya opens oil ports after closure due to bad weather.
Libya’s National Oil Corporation (NOC) on Monday opened three major oil ports in the east after four days of closure due to bad weather conditions. “Foreign tankers entered the ports to load shipments delayed due to bad weather during the past few days,” “The closure was due to…
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DecLacklustre year for tankers ends with signs of recovery.
The Baltic Dirty Tanker Index closed at 827 points on Friday, having started 2017 at 1,053, after the supposed winter peak demand season turned out to be disappointing against the backdrop of the output cut by the Organisation of Petroleum Exporting Countries. Movement of the Baltic Clean Tanker Index…
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DecOPEC’s cuts have been less effective than the market believes
OPEC’s effort to slice into the global oil glut hasn’t gone as well as it would like you to believe, the Dallas Fed argued this week. While it appears OPEC’s production cuts have reduced oil inventories in developed nations to half of their level above the five-year average, much…
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