Energy Intelligence Briefing articles from January 2009

Energy Intelligence Briefing archives from January 2009

Saudi prices track market trends in three key regions.
January 5, 2009... NEW YORK -- Saudi Arabia effectively made February-loading heavier crudes more expensive relative to lighter crudes around the world. The Saudis followed market trends in the US, Europe and Asia, taking into account that residual fuel oil has...

Global oil demand falls in 2008 as supply keeps rising.
January 7, 2009... WASHINGTON -- In December, global oil demand lost some 2 million barrels per day, or 2.4%, to average 84.7 million b/d. This put 2008 demand at 85.57 million b/d, down 270,000 b/d year-on-year, the first fall in a generation, according to EIB...

Supply surplus beats Opec cuts; oil stocks are rising.
January 20, 2009... NEW YORK -- Oil market balances have become a contest between ebbing OECD demand and Opec's ability to cut back its crude production, with non-Opec supply and non-OECD demand developments sporadically weighing in on one side or the other and...

US crude oil imports set to drop below 10 million b/d.
January 20, 2009... NEW YORK -- With only December data to be counted, average US crude imports in 2008 are set to drop below 10 million barrels per day for the first time since 2003, statistics from the US Energy Information Administration (EIA) show. The drop is...

Opec cuts helping West African loading programs.
January 22, 2009... LONDON -- Trading in March-loading Angolan crude is off to a very strong start thanks to Opec cuts kicking in, and technical issues, as refiners chase fewer medium, sweet and heavy, sweet barrels. The key question is whether the trend will...

North Sea loadings seesaw into new year's confusion.
January 28, 2009... LONDON -- Oil prices are still shackled to the global financial crisis and the accompanying decline in energy demand. Over the past month, economic indicators have been relentlessly negative. Most recently, the International Monetary Fund (IMF)...

Russian flows hold steady despite 2009 tax breaks.
January 29, 2009... MOSCOW -- Seaborne crude oil exports from the Transneft pipeline system are scheduled to drop a modest 5,000 barrels per day in February despite improving profitability from sales abroad, according to finalized port schedules released by state...