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Oil Prices Soar As OPEC+ Prepares To Cut Supplies / Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears / Oil Price Jumps As OPEC Keeps Output Steady, Hits Four year High (2) (3) (4)

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Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by BrandSpurNG: 6:19am On Mar 01, 2018
We will take a quick look at some of the critical figures and data in the energy markets this week. 

We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy.

Important Note for Energy Investors: The World Economic Forum, the Institute of Electrical and Electronics Engineers, the MIT Technology Review, prestigious national laboratories, and a slew of other experts are buzzing about this new element that will transform the energy industry. Early investors are already reaping the benefits. Are you in?

China became the second largest LNG importer in 2017, surpassing South Korea.
–    China’s LNG imports of 5 billion cubic feet per day (Bcf/d) was second only to Japan’s 11 Bcf/d.
–    The surge in LNG imports is helping China fuel its rapid switchover from coal to gas. China has run into gas shortages amid its aggressive push to clean up air pollution by shutting down coal.

Market Movers

–    Sanchez Energy (NYSE: SN) saw its stock jump more than 3 percent after it announced it would pay dividends on series A and B convertible perpetual preferred shares in cash rather than stock.
–    The share price of Carrizo Oil & Gas (NASDAQ: CRZO) fell by more than 6 percent after hours after reporting that its 2018 production could dip 10 percent, while also predicting that oilfield services costs would see a “double-digit increase” this year.
–    Schlumberger (NYSE: SLB) and Baker Hughes (NYSE: BHGE) were upgraded by Bank of America to a Buy rating, while Halliburton (NYSE: HAL) was downgraded to Neutral.

Tuesday, February 27, 2018

Oil prices gained a bit over the past few trading days, after a surprise drawdown in crude stocks last week. But analysts see that to be a one-off, with expectations that inventories will resume climbing this week.

IEA: U.S. to become world’s largest oil producer by next year. The IEA’s executive director said that the U.S. will surpass Russia to become the world’s largest oil producer “definitely next year,” if not in 2018. “U.S. shale growth is very strong, the pace is very strong … The United States will become the No.1 oil producer sometime very soon,” Fatih Birol told Reuters.

OPEC hopes to ease production cuts in 2019. Saudi oil minister Khalid al-Falih said that he hopes that OPEC can relax the production limits next year while putting in place a more permanent framework for cooperation between OPEC and the non-OPEC countries that are participating in the deal. “A study is taking place and once we know exactly what balancing the market will entail we will announce what is the next step. The next step may be easing of the production constraints,” al-Falih told reporters in New Delhi. “My estimation is that it will happen sometime in 2019. But we don’t know when and we don’t know how.” He went on to add that a longstanding cooperative agreement is a priority. “What we want is an evergreen framework that brings producers from OPEC and non-OPEC (countries) together in a market monitoring fashion that allows us to take quick decisions,” he said.

Trump tries to broker deal on biofuels. The standoff between the refining and biofuels industries is coming to a head, and the Trump administration is trying to figure out how to please both sides. President Trump is set to preside over a meeting on Tuesday that will look at tweaks to the Renewable Fuels Standard, which requires refiners to blend in biofuels to their fuel supply. The situation blew up a few weeks ago after the refinerPhiladelphia Energy Solutions declared bankruptcy, blaming the high costs of complying with the RFS as a major cause in the company’s demise.

German court rules diesel bans permissible. A German court upheld a lower court ruling that allowed municipalities to ban dirty diesel vehicles in an effort to reduce air pollution. German carmakers saw their stocks dive on the news. The rulings essentially find that complying with air pollution rules and upholding the health of citizens is more important than private property rights. It is another blow to diesel vehicles.

Over 100 cities obtain 70 percent of electricity from renewables. A new study finds that over 100 cities around the world generate at least 70 percent of their electricity from renewables. That number of cities is double what it was in 2015. The study from the non-profit CDP also found that 40 cities generate 100 percent of their electricity from renewables. However, the common thread through most of these cities is a heavy reliance on hydropower, a source that will have a low growth rate going forward because it has been maxed out in many areas.

Lithium stocks fall on fears of oversupply. Morgan Stanley warned that lithium could suffer from “significant oversupply,” which could cause prices to fall by 45 percent by 2021. The investment bank downgraded shares of Albemarle Corp. (NYSE: ALB) and Sociedad Quimica Y Minera De Chile (NYSE: SQM), two top global suppliers of lithium. ALB lost nearly 8 percent on Monday while SQM lost more than 9 percent. Lithium had been one of the hottest trades in 2017, but the bull run has come to a screeching halt. Morgan Stanley says that 2018 could be the last year in which the market for lithium is in a state of a deficit, as new sources of supply will come online beginning next year.

Construction on Bayou Bridge pipeline suspended. A federal judge suspended work on the Bayou Bridge pipeline in Louisiana, a project that is crucial to fully connecting the Bakken oil fields to refineries on the U.S. Gulf Coast. The project, a joint venture between Energy Transfer Partners (NYSE: ETP) and Phillips 66 (NYSE: PSX), would help more oil move to refineries and for export. Environmental groups sued over damage to the Atchafalaya Basin and for violations of the Clean Water Act. The judge issued an injunction, barring ETP from taking further action, pending the merits of the case.

ExxonMobil shuts Papua New Guinea natural gas after the earthquake. A natural gas production and processing site in Papua New Guinea was shut by ExxonMobil (NYSE: XOM) after an earthquake to assess the damage.

Borr Drilling to acquire Paragon Offshore Ltd. for $232.5 million. The Bermuda based Borr Drilling will acquire Paragon Offshore Ltd. for $232.5 million, consolidating the rig market.

LOOP to cut costs for Asian refiners. Buyers in Asia will be able to buy more American crude oil at a cheaper cost because of the new LOOP export facility on the Louisiana coast, which can handle very large crude carriers (VLCCs). That means that Asian refiners won’t have to rely on oil traders to manage the tanker logistics, saving time and money by cutting out middlemen, according to Bloomberg. The result could be more U.S. oil heading to Asia.

EQT spinning off pipeline unit. EQT (NYSE: EQT), the largest natural gas producer in the U.S., announced that it would spin off its pipeline business into a separate publicly-traded entity. The move is made with an eye on shareholder returns after some investors balked at the company’s purchase of Rice Energy in 2017. The move would separate out the upstream and the midstream assets, creating two pure-play companies.

Libya’s NOC declares force majeure. After protests shuttered the El Feel oilfield in Libya, the country’s National Oil Company declared force majeure on 70,000 bpd of production. The development highlights the ongoing instability at Libya’s oil facilities.


SOURCE: https://brandspurng.com/oil-prices-fall-as-opec-plans-to-end-cuts-oilprice-intelligence-report/

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by Nobody: 6:38am On Mar 01, 2018
undecided




Where on earth is the price falling to

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by LastSurvivor11: 7:10am On Mar 01, 2018
How I wish oil will dry up in Nigeria so we will know if we are truly one....

11 Likes 1 Share

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by nony43(m): 7:10am On Mar 01, 2018
H
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by NaijaMutant(f): 7:12am On Mar 01, 2018
grin
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by chrisxxx(m): 7:14am On Mar 01, 2018
Pls oil price fall to near zero cause your rise is a curse to ordinary Nigerians. In other spheres when the cost of their commodity rises the citizens rejoice the opposite is the case in Nigeria. Please fall may we see petrol to buy at a cheaper rate. May our politicians see less money to loot. Amen.

5 Likes 1 Share

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by Sweetcollins: 7:17am On Mar 01, 2018
2019 hide and seek
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by AntiWailer: 7:17am On Mar 01, 2018
Wasted resources.

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by loveth360(f): 7:17am On Mar 01, 2018
If you hear division now,the lazy ones will start crying one nigeria.

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by bjayx: 7:18am On Mar 01, 2018
Naija in soup

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by sanpipita(m): 7:20am On Mar 01, 2018
Buhari and APC now have yet another thing to blame their incompetence on

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by free2ryhme: 7:23am On Mar 01, 2018
BrandSpurNG:
We will take a quick look at some of the critical figures and data in the energy markets this week. 

We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy.

Important Note for Energy Investors: The World Economic Forum, the Institute of Electrical and Electronics Engineers, the MIT Technology Review, prestigious national laboratories, and a slew of other experts are buzzing about this new element that will transform the energy industry. Early investors are already reaping the benefits. Are you in?

China became the second largest LNG importer in 2017, surpassing South Korea.
–    China’s LNG imports of 5 billion cubic feet per day (Bcf/d) was second only to Japan’s 11 Bcf/d.
–    The surge in LNG imports is helping China fuel its rapid switchover from coal to gas. China has run into gas shortages amid its aggressive push to clean up air pollution by shutting down coal.

Market Movers

–    Sanchez Energy (NYSE: SN) saw its stock jump more than 3 percent after it announced it would pay dividends on series A and B convertible perpetual preferred shares in cash rather than stock.
–    The share price of Carrizo Oil & Gas (NASDAQ: CRZO) fell by more than 6 percent after hours after reporting that its 2018 production could dip 10 percent, while also predicting that oilfield services costs would see a “double-digit increase” this year.
–    Schlumberger (NYSE: SLB) and Baker Hughes (NYSE: BHGE) were upgraded by Bank of America to a Buy rating, while Halliburton (NYSE: HAL) was downgraded to Neutral.

Tuesday, February 27, 2018

Oil prices gained a bit over the past few trading days, after a surprise drawdown in crude stocks last week. But analysts see that to be a one-off, with expectations that inventories will resume climbing this week.

IEA: U.S. to become world’s largest oil producer by next year. The IEA’s executive director said that the U.S. will surpass Russia to become the world’s largest oil producer “definitely next year,” if not in 2018. “U.S. shale growth is very strong, the pace is very strong … The United States will become the No.1 oil producer sometime very soon,” Fatih Birol told Reuters.

OPEC hopes to ease production cuts in 2019. Saudi oil minister Khalid al-Falih said that he hopes that OPEC can relax the production limits next year while putting in place a more permanent framework for cooperation between OPEC and the non-OPEC countries that are participating in the deal. “A study is taking place and once we know exactly what balancing the market will entail we will announce what is the next step. The next step may be easing of the production constraints,” al-Falih told reporters in New Delhi. “My estimation is that it will happen sometime in 2019. But we don’t know when and we don’t know how.” He went on to add that a longstanding cooperative agreement is a priority. “What we want is an evergreen framework that brings producers from OPEC and non-OPEC (countries) together in a market monitoring fashion that allows us to take quick decisions,” he said.

Trump tries to broker deal on biofuels. The standoff between the refining and biofuels industries is coming to a head, and the Trump administration is trying to figure out how to please both sides. President Trump is set to preside over a meeting on Tuesday that will look at tweaks to the Renewable Fuels Standard, which requires refiners to blend in biofuels to their fuel supply. The situation blew up a few weeks ago after the refinerPhiladelphia Energy Solutions declared bankruptcy, blaming the high costs of complying with the RFS as a major cause in the company’s demise.

German court rules diesel bans permissible. A German court upheld a lower court ruling that allowed municipalities to ban dirty diesel vehicles in an effort to reduce air pollution. German carmakers saw their stocks dive on the news. The rulings essentially find that complying with air pollution rules and upholding the health of citizens is more important than private property rights. It is another blow to diesel vehicles.

Over 100 cities obtain 70 percent of electricity from renewables. A new study finds that over 100 cities around the world generate at least 70 percent of their electricity from renewables. That number of cities is double what it was in 2015. The study from the non-profit CDP also found that 40 cities generate 100 percent of their electricity from renewables. However, the common thread through most of these cities is a heavy reliance on hydropower, a source that will have a low growth rate going forward because it has been maxed out in many areas.

Lithium stocks fall on fears of oversupply. Morgan Stanley warned that lithium could suffer from “significant oversupply,” which could cause prices to fall by 45 percent by 2021. The investment bank downgraded shares of Albemarle Corp. (NYSE: ALB) and Sociedad Quimica Y Minera De Chile (NYSE: SQM), two top global suppliers of lithium. ALB lost nearly 8 percent on Monday while SQM lost more than 9 percent. Lithium had been one of the hottest trades in 2017, but the bull run has come to a screeching halt. Morgan Stanley says that 2018 could be the last year in which the market for lithium is in a state of a deficit, as new sources of supply will come online beginning next year.

Construction on Bayou Bridge pipeline suspended. A federal judge suspended work on the Bayou Bridge pipeline in Louisiana, a project that is crucial to fully connecting the Bakken oil fields to refineries on the U.S. Gulf Coast. The project, a joint venture between Energy Transfer Partners (NYSE: ETP) and Phillips 66 (NYSE: PSX), would help more oil move to refineries and for export. Environmental groups sued over damage to the Atchafalaya Basin and for violations of the Clean Water Act. The judge issued an injunction, barring ETP from taking further action, pending the merits of the case.

ExxonMobil shuts Papua New Guinea natural gas after the earthquake. A natural gas production and processing site in Papua New Guinea was shut by ExxonMobil (NYSE: XOM) after an earthquake to assess the damage.

Borr Drilling to acquire Paragon Offshore Ltd. for $232.5 million. The Bermuda based Borr Drilling will acquire Paragon Offshore Ltd. for $232.5 million, consolidating the rig market.

LOOP to cut costs for Asian refiners. Buyers in Asia will be able to buy more American crude oil at a cheaper cost because of the new LOOP export facility on the Louisiana coast, which can handle very large crude carriers (VLCCs). That means that Asian refiners won’t have to rely on oil traders to manage the tanker logistics, saving time and money by cutting out middlemen, according to Bloomberg. The result could be more U.S. oil heading to Asia.

EQT spinning off pipeline unit. EQT (NYSE: EQT), the largest natural gas producer in the U.S., announced that it would spin off its pipeline business into a separate publicly-traded entity. The move is made with an eye on shareholder returns after some investors balked at the company’s purchase of Rice Energy in 2017. The move would separate out the upstream and the midstream assets, creating two pure-play companies.

Libya’s NOC declares force majeure. After protests shuttered the El Feel oilfield in Libya, the country’s National Oil Company declared force majeure on 70,000 bpd of production. The development highlights the ongoing instability at Libya’s oil facilities.


SOURCE: https://brandspurng.com/oil-prices-fall-as-opec-plans-to-end-cuts-oilprice-intelligence-report/
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by Caseless: 7:24am On Mar 01, 2018
Nawa

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by ubaha101: 7:28am On Mar 01, 2018
until importation is allowed,oil price will never drop period.
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by blackpanda: 7:31am On Mar 01, 2018
chrisxxx:
Pls oil price fall to near zero cause your rise is a curse to ordinary Nigerians. In other spheres when the cost of their commodity rises the citizens rejoice the opposite is the case in Nigeria. Please fall may we see petrol to buy at a cheaper rate. May our politicians see less money to loot. Amen.

Smh. U cant be serious
So if oil falls to zero which money will u use to "buy" the said fuel
Na just slow kids full this nairaland sha

2 Likes

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by blackpanda: 7:33am On Mar 01, 2018
ubaha101:
until importation is allowed,oil price will never drop period.

U dont have the dollars to import. Which means the greedy business men will have to source for dollars on their own and increase the price of fuel astronomically any how they like

U actually need to think before u type my friend. Dont reason with emotion
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by NwaNimo1(m): 7:36am On Mar 01, 2018
The era of oil is surely coming to an end....

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by bloomstar: 7:36am On Mar 01, 2018
nice, meanwhile here are signs that you will have liver failure soon

http://generalhealthinfo.com/2018/02/15/signs-and-symptoms-of-liver-failure/
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by HoLEEsinner: 7:37am On Mar 01, 2018
Ok
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by omoadeleye(m): 7:37am On Mar 01, 2018
all hands still on deck
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by gurunlocker: 7:57am On Mar 01, 2018
They want to give our government another excuse to use for 2019 election...

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by Nobody: 8:06am On Mar 01, 2018
Ouch

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by Nobody: 8:08am On Mar 01, 2018
NwaNimo1:
The era of oil is surely coming to an end....

Long time ago...which is why we need to wake up, and change our economic paradigm.

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by mvem(m): 8:09am On Mar 01, 2018
chrisxxx:
Pls oil price fall to near zero cause your rise is a curse to ordinary Nigerians. In other spheres when the cost of their commodity rises the citizens rejoice the opposite is the case in Nigeria. Please fall may we see petrol to buy at a cheaper rate. May our politicians see less money to loot. Amen.
..if u sabi economics u will know the dynamics of things doesn't work that way
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by mvem(m): 8:13am On Mar 01, 2018
Cromcruach91:


Long time ago...which is why we need to wake up, and change our economic paradigm.
...realistically the world can't stop its dependence of non-remewable energy like Oil...no matter what u hear, Amarican ,China and Europe are still world consumers of this energy and the consumption has not reduce...the only area oil consumption is reducing is on the commercial scale... Now we have hybrid and electric vehicles but on the industrial scale nothing has changed
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by Dee60: 8:16am On Mar 01, 2018
s
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by bejeria101(m): 8:52am On Mar 01, 2018
Buhari still hasnt stabilised oil prices? Olodo daura.

1 Like

Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by 400billionman: 9:02am On Mar 01, 2018
The price fell from what figure to what figure?
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by 400billionman: 9:03am On Mar 01, 2018
bejeria101:
Buhari still hasnt stabilised oil prices? Olodo daura.
Did anyone promise to stabilize oil prices?
Re: Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report by chloride6: 9:11am On Mar 01, 2018
blackpanda:


Smh. U cant be serious
So if oil falls to zero which money will u use to "buy" the said fuel
Na just slow kids full this nairaland sha

Why are you calling him a slow kid , when you are obviously the slow one?

2 Likes

(1) (2) (Reply)

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