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OPEC still divided even as Saudis see markets settling
Recent comments from OPEC's Nigerian president and the oil minister of top producer Saudi Arabia show just how divided the group remains after its November decision not to reduce crude...Read More »
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US fuel oil demand hits record low 257,000 b/d in 2014, down 50% from 2009: EIA
US residual fuel oil demand in 2014 was a record low 257,000 b/d, down by
half from 2009 and further evidence the product's utility is waning, Energy
Information Administration data showed Friday.
North Sea CFD backwardation encouraging crude out of storage
A strengthening North Sea crude oil market has caused deeper
backwardation in the CFD curve, encouraging European refiners to run crude
from their own storage, traders said, affecting a wide variety of regional
Angola targets 2 mil b/d crude output by 2016, pumped 1.67 mil b/d in 2014: Sonangol
Angola hopes to achieve its long-held crude production target of 2
million b/d by the beginning of 2016, state oil company Sonangol said Friday.