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Oil slips from earlier gains as U.S. gasoline, diesel stocks rise
(Reuters - 19/10/2017)

Brent oil prices retreated from three-week highs reached earlier in the day on Wednesday, after a surprising fall-off in U.S. refining runs and an unexpected increase in inventories of gasoline and diesel. Prices had been higher due to ongoing tensions

Oil Snaps Four-Day Rally Amid Swelling U.S. Fuel Stockpiles
(Bloomberg - 19/10/2017)

Oil declined, halting four days of advances, after a closely watched tally of U.S. fuel inventories showed a rise in gasoline and diesel supplies. Futures slid as much as 1.9 percent in New York. Gasoline stockpiles in the world’s biggest economy

China’s oil demand key to balance in oil market
(My Oil and Gas News - 19/10/2017)

China’s purchases of crude oil for the sake of building its stocks have helped ease the oil market towards balance, the International Energy Agency (IEA) said in this month’s Oil Market Report. Furthermore, Chinese companies have expressed to Saudi

Oil demand to top 100 million barrels a day in 2020, Barkindo says
(MarketWatch - 19/10/2017)

OPEC Secretary-General Mohammad Barkindo on Thursday struck a decidedly sanguine tone on the outlook for crude, saying the market is balancing at an “accelerated pace” and that demand will continue to rapidly grow in the coming decades. Speaking at the

Oil markets stable on tighter U.S. market, expected extension of OPEC
(Reuters - 19/10/2017)

Oil prices were stable on Thursday, supported by ongoing OPEC-led supply cuts, tensions in the Middle East and lower U.S. production due to hurricane-enforced closures. Brent crude futures LCOc1 were at $58.10 at 0411 GMT, slightly lower than their last

Opec seen leaning towards 9-mth extension of oil cut
(Gulf Times - 19/10/2017)

Opec is leaning towards extending a deal with Russia and other non-members to cut oil supply for a further nine months, four Opec sources said, although stronger-than-expected demand growth may allow the group to delay a decision until early next year.

Early glance at the World Oil Outlook
(Arab News - 18/10/2017)

OPEC will release its annual World Oil Outlook on Nov. 7. Here is an early glance into the report from comments made by OPEC’s Secretary-General Mohammed Barkindo in Kuwait this week. The medium-term outlook for oil demand is set for a significant

Oil jumps on fears of new Iran sanctions, Iraq conflict
(Arab News - 16/10/2017)

Oil markets jumped on Monday on concerns over potential renewed US sanctions against Iran as well as conflict in Iraq, while a falling US rig count supported prices there. Brent crude futures, the international benchmark for oil prices, were at $57.82 at

US, Iran tensions, Opec decision to impact oil prices
(Gulf News - 15/10/2017)

Tensions between the US and Iran, and a decline in the global surplus, is likely to impact oil prices in the coming months, but it is unlikely to go beyond $60 (Dh220) per barrel, analysts said. Crude oil recovered strongly last week in response to

China places bet on yuan-denominated crude oil futures
(Asia Times - 15/10/2017)

Oil traders are carefully watching to see which country will follow Venezuela’s decision to export crude oil denominated in renminbi instead of US dollars. Venezuela, the 11th largest oil producer in the world, announced on September 15 it would sell oil

Opec is said to see oil inventory glut finally gone in one year
(Gulfnews - 15/10/2017)

Opec expects its efforts to clear the surplus in oil inventories to finally succeed by the end of the third quarter of next year, said people familiar with the group’s internal forecasts. The Organisation of Petroleum Exporting Countries and allies

Oil heads higher on strong Chinese crude imports and Iran uncertainty
(MarketWatch - 13/10/2017)

Oil prices climbed Friday, buoyed by a mix of factors, including bullish Chinese data and geopolitical risks from oil-rich regions in the Middle East. November West Texas Intermediate crude CLX7, +1.62% the U.S. price gauge, rose 57 cents, or 1.1%, to

Oil Heads for Weekly Gain as Market Re-Balancing Inches Ahead
(Bloomberg - 13/10/2017)

Oil is heading for the biggest weekly gain since mid-September after U.S. crude stockpiles extended declines and as the head of OPEC said a market re-balancing is progressing. Futures added 0.8 percent in New York and are up 3.5 percent for the week.

Global oil market seen balanced in 2018, even with rising output
(Reuters - 13/10/2017)

Global supply and demand for crude oil will be largely balanced next year, as growth in consumption helps erode a three-year-old overhang of unused fuel and should mostly offset a steep rise in output, the International Energy Agency said on Thursday. In

OPEC holds the cards in oil market
(AFP - 13/10/2017)

OPEC and its allies have regained some control over the oil market as their production limits have eroded the supply glut that caused prices to plunge, but the IEA warned Thursday further restraint is needed if this balance is to be maintained. In its

Oil prices fall on higher U.S. crude inventories
(Reuters - 12/10/2017)

Brent crude oil LCOc1 was down 60 cents at $56.34 a barrel by 1055 GMT. U.S. light crude CLc1 was 75 cents lower at $50.55. Both benchmarks have risen more than 20 percent from their lows in June as world oil markets tightened. The Organization of the

Oil slips on worries about rising U.S. crude stockpiles
(MarketWatch - 12/10/2017)

Oil prices fell Thursday following a report showing an increase in U.S. crude stockpiles last week — another sign that the market’s recovery will be slower than expected. Brent crude LCOZ7, -1.16% , the global benchmark, was down 0.4% to $56.71 a barrel

World oil demand likely to grow by 1.4 mbpd in 2018
(Trade Arabia - 12/10/2017)

World oil demand in 2018 is anticipated to grow by 1.4 mbpd, following an upward adjustment of 30,000 b/d over the previous projection, due to the improving economic outlook in the world economy, particularly China and Russia, according to Opec Monthly

Oil rises on signs of tight market
(Times of Oman - 12/10/2017)

Oil prices rose for a third day on Wednesday on signs that markets are gradually tightening after years of oversupply, though the outlook for 2018 remained less certain. Brent crude futures, the international benchmark for oil prices, were trading at

Libya Says Its Oil Recovery Is Struggling and OPEC Sympathizes
(Bloomberg - 11/10/2017)

Libya said it’s struggling to restore oil production and fellow OPEC members are sparing the nation from having to participate in their deal to cut output. The North African nation has revived output to almost 1 million barrels a day, but it’s “very

Oil rises 2 percent on signs rebalancing underway
(Reuters - 11/10/2017)

Oil prices rose about 2 percent on Tuesday, supported by Saudi Arabian export cuts in November and comments from OPEC and trading companies that the market is rebalancing after years of oversupply. Saudi Arabia has cut November allocations by 560,000

Record U.S. Crude Exports Squeeze North Sea Oil
(Oilprice.com - 11/10/2017)

Record-high U.S. crude oil exports are putting pressure on North Sea oil as American oil is now flowing to Europe and to the prized Asian market, which has become increasingly important for determining North Sea oil prices and the Brent benchmark. U.S.

KSA leads way on production cuts, oil price ticks up
(Arab News - 11/10/2017)

Saudi Arabia is spearheading oil output cuts agreed by OPEC last year, having disclosed this week that it is cutting November crude allocations to 7.15 million barrels per day (bpd) despite “very strong demand” for 7.7 million bpd. The cut of about

Iraq to reopen oil pipeline to Turkey, bypassing one in Kurdistan
(Reuters - 10/10/2017)

Iraq will reopen an old crude oil pipeline to Turkey which bypasses one operated by the Kurdistan Regional Government (KRG), the oil ministry said in a statement on Tuesday. Iraq’s oil minister, Jabar al-Luaibi, has asked state-owned North Oil Co., the

Oil Holds Gains Near $50 as U.S. Stockpiles Seen Extending Drop
(Bloomberg - 10/10/2017)

Oil held gains near $50 a barrel before U.S. government data forecast to show crude inventories extended declines for a third week. Futures were little changed in New York after advancing 0.6 percent on Monday, rebounding from a weekly loss. Stockpiles