Oil Price

Fresh OPEC Deal The Next Important Thing for Russia!

  • A fresh OPEC+ deal is required to maintain a balance in the oil market. 
  • Prices go out of control as the agreement didn’t go well between the OPEC+ countries. 
  • Efforts to restore relations between Russia and the United States are important. 
  • The RDIF and its partners have produced 500,000 coronavirus test kits so far.
  • Dmitriev said that within a month, test kits for fast and mass public use would be ready. 

Kirill Dmitriev, head of Russia’s sovereign wealth fund said that a fresh  OPEC+ deal...

http://mfame.guru/fresh-opec-deal-the-next-important-thing-for-russia/

Storage Facilities 75% Full! Oil Could Crash To $10 a Barrel!

  • Oil prices may fall to $10 a barrel as the world runs out of storage space.
  • Saudi Arabia prepares to increase its fossil fuel production when global demand for energy continues to fall.
  • World’s storage facilities have climbed three-quarters full on average since the January shutdown of major refineries in China.
  • Oil-rich regions in Western Canada might have to curb production by about 400,000 barrels of oil a day by the end of the month.
  • The global oil industry to store their extra crude oil...

http://mfame.guru/storage-facilities-75-full-oil-could-crash-to-10-a-barrel/

Oil Prices Tumbled on Crude Inventory Effect!

The American Petroleum Institute (API) estimated on a surprise crude oil inventory build of 1.57 million barrels for the week ending January 17, compared to analyst expectations of a 1.009-million-barrel draw in inventory, reports Oilprice.om

The week saw a build in crude oil inventories of 1.1 million barrels, according to API data. The EIA’s estimates, however, were of a draw of 2.5 million barrels for that week.

Oil Prices Down

Oil prices were down earlier in the day prior to the afternoon data...

http://mfame.guru/oil-prices-tumbled-on-crude-inventory-effect/

IMO 2020 and Its Effect on Midstream

  • New IMO regulations imposing stricter sulfur limits on the shipping industry have broad implications for energy, including midstream.
  • Demand for crude and refined products from the US are expected to be impacted by the shift in regulations.
  • US energy infrastructure companies are positioned to capitalize on the growing need for US crude exports to produce compliant fuels.

Shippers and energy companies have spent the last four years readying themselves for this January and will need to adapt to...

http://mfame.guru/imo-2020-and-its-effect-on-midstream/

Middle East Tension Continues To Drive Oil Price Sentiment

According to a Freight Investor Services article, crude saw a late drop in prices last night after the U.S. Secretary of State dropped some concessionary words hinting that progress was being made with Iran that could lead to a renegotiation of the Iran Nuclear agreement.

A Backward Turn Likely?

Equally we wouldn’t be surprised to see this situation take a turn backwards before we see any resolution to it. The U.S. plans to brief foreign diplomats based in Washington this week on a new maritime...

http://mfame.guru/middle-east-tension-continues-to-drive-oil-price-sentiment/

IMO 2020: JPMorgan Foresee 15% Fall in RILs Earnings Growth

  • Refining and Petrochemicals sector holds a 15 per cent downside risk to Reliance Industries’ (RIL) estimated FY20 earnings. 
  • Consensus earnings estimates have been cut by 12% for FY20 over the last few months. 
  • JP Morgan currently not lowering its estimates for FY20 as it will look for a sharp recovery in GRMs in the second half.

According to an article published in Business Standard, the Refining and Petrochemicals sector holds a 15 per cent downside risk to Reliance Industries’ (RIL)...

http://mfame.guru/imo-2020-jpmorgan-foresee-15-fall-in-rils-earnings-growth/

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