Energy Intelligence Briefing articles from April 2009

Energy Intelligence Briefing archives from April 2009

Collapsing Nigeria pulls down Opec's US crude supplies.
April 2, 2009... NEW YORK -- In the midst of one of its heaviest cutting rounds in history, Opec-11 supplied the US with just 4 million barrels less crude in January than in December, a drop of a mere 125,000 barrels per day, US government data shows. Opec...

Demand declines still deep; balances back to surplus.
April 3, 2009... WASHINGTON -- Global oil demand is still taking major hits from the economic recession, which is turning out to be deeper than originally thought. Oil demand averaged 84.12 million barrels per day in March, according to preliminary assessments...

Saudi Arabian oil prices follow volatile market trends.
April 6, 2009... NEW YORK -- One month ago, traders and brokers suggested Saudi Arabia had deliberately tightened the discounts on its grades as a warning that Opec, and Saudi Arabia as its largest producer, was about to tighten output. That reading turned out...

OECD cover balloons on stockbuilds and low demand.
April 15, 2009... WASHINGTON -- Opec is going to have to do a lot more work in order to trim crude oil inventories. With upward revisions to January and February stocks, and probably more builds coming for March, the global oil market has a large and growing...

West African loadings suffering from global malaise.
April 15, 2009... LONDON -- Sellers of May-loading West African crudes are suffering a grim month, marked by imploding differentials on most grades and slower transactions: While Angolan fare has largely cleared, sellers of Nigerian barrels are still struggling...

Saudi Arabian oil supplies to US lowest in 16 years.
April 16, 2009... NEW YORK -- As Opec tightened the taps to fight falling oil demand, Saudi Arabia landed just 1.119 million barrels per day of crude oil in the US in February, the lowest monthly volume since June 1996, data from the US Energy Information...

Russian crude exports poised for major jump in May.
April 28, 2009... MOSCOW -- After a lower-than-expected export schedule in April, Moscow is opening up the taps for May with a 102,000 barrel per day increase in seaborne crude oil exports. Russian oil pipeline monopoly Transneft has penciled in 2.835 million...

Market compass.
April 28, 2009... Crude oil futures markets have largely ignored dire fundamentals for some considerable time and have remained mesmerized by the turmoil in the financial world and the volatility of the equity markets. Futures continue to trade in uneasy...