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Crude prices falls close to 2015 lows over compounded glut

Crude prices fell on Monday in the first trading session after Opec-members failed to agree on output targets to reduce a bulging glut that has resulted in oil prices falling by more than 60 per cent since June 2014. The ...

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Saudi transport projects on track despite crude prices

Mr Abdullah Al Muqbil Minister of Transport said that Saudi Arabia is proceeding with public transport projects as scheduled and companies may face penalties if there are delays. With low oil prices slashing the government’s export revenues and forcing it ...

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Low crude prices to support refining margins

A senior executive at Taiwanese refiner Formosa Petrochemical Corp (6505.TW) said that crude oil prices are expected to hold at $50 a barrel to $60 a barrel next year, buoying global demand for fuels and keeping refining margins elevated. Refiners ...

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Goldman says crude prices could fall to production cost levels

Goldman Sachs said that crude oil prices could fall to production cost levels if the current supply glut stretches beyond available logistical and storage capacity. The bank said in a note that “Fundamentals remain weak and we view the market ...

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US oil drillers add rigs despite crude prices collapse

US energy firms added 6 oil rigs this week, continuing a recent trend of increases, even after US crude oil prices plunged 25% from a recent high in June. That was a sign some drillers followed through on plans to ...

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Oil dips below $45 US a barrel for 1st time since March

Crude oil futures briefly fell below $45 US a barrel for the first time in five months in New York trading Wednesday, shrugging off a morning report that oil inventories fell much more than expected last week. The fact that ...

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Crude prices and cracker expansion

Fitch Ratings has said that the recent drop in global crude prices could negatively affect chemical company financials, however it does expect ethane crackers to maintain a cost advantage in the long term despite the increased competitiveness of naphtha feedstock. ...

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Crude prices and storage benefits

According to Fitch Ratings, crude storage is going to benefit fro the changing price dynamics in the near term. Rising US crude production has contributed to the domestic supply glut, which has kept crude prices low. Despite these low prices, ...

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Crude prices and storage benefits

According to Fitch Ratings, crude storage is going to benefit fro the changing price dynamics in the near term. Rising US crude production has contributed to the domestic supply glut, which has kept crude prices low. Despite these low prices, ...

Read More »
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