Energy Intelligence Briefing articles from June 2005

Energy Intelligence Briefing archives from June 2005

Demand flares up again in May, but stocks grow fat.
June 6, 2005... NEW YORK -- The growth in global oil demand is making a boisterous comeback in May after a relatively slow start to the year, but with most producers running flat out and well ahead of demand, oil inventories should be rising by more than 3...

Terror, storms and glitches haunting Iraqi oil exports.
June 9, 2005... NEW YORK -- Loadings at Basrah Oil Terminal (BOT) in southern Iraq were suspended earlier this week because of rough weather, dealing a further blow to efforts by the country's new oil minister, Ibrahim Bahr al-Uloum, to meet customer...

Opec talks market down in advance of June meeting.
June 10, 2005... LONDON -- In a further gesture to cool fevered oil prices, Opec seems likely to raise its production ceiling again next week. Support for another hike has gathered momentum in the past few days, as oil prices have roared back from a mid-May...

Opec looks on as heating oil pushes up crude prices.
June 13, 2005... VIENNA -- As Opec prepares to meet on Wednesday in Vienna, crude prices on the New York Mercantile Exchange leapt by $2.08 per barrel on Monday to close at $55.62, leaving Opec ministers scratching their heads. The producer group is to discuss...

Opec might lift output when WTI stays over $57/bbl.
June 15, 2005... VIENNA -- In twin moves, Opec on Wednesday raised its production ceiling and lowered the apparent price for its crude by calculating it on a revised base, but the organization noted it can do little about global oil prices because tight product...

Russian Q3 export cuts scent flagging supply growth.
June 17, 2005... MOSCOW -- Moscow is planning to slash crude exports by 126,000 barrels per day in the third quarter, compared with the second quarter, confirming market fears that Russian output growth cannot continue keeping pace with rising global oil demand...

Oil market fundamentals sit quietly in the back seat.
June 20, 2005... NEW YORK -- Usually Opec looks forward to the second quarter with a degree of fear and trepidation about demand drops and inventory builds, but not so this year. Despite evidence of a relatively normal seasonal drop in product demand and rise...

North Sea physicals tentatively gain as paper surges.
June 22, 2005... LONDON -- North Sea output dodged a couple of bullets this week as a major strike was averted in Norway and a pipeline problem serving the UK sector's largest offshore system was quickly fixed. Although pricing in physical North Sea markets...

West African summer loadings face mixed prospects.
June 28, 2005... LONDON -- West African crudes are facing mixed fortunes as the market turns to August trading. Light sweet grades from Nigeria look well supported--at least for cargoes loading in the first half of August--amid lower US crude stocks, strong...

Russia plans export boost despite doubts over Primorsk.
June 29, 2005... MOSCOW -- Russia has set out ambitious plans to ramp up July seaborne crude exports by 84,000 barrels per day from the previous month, according to loading schedules issued so far. Seaborne crude exports are penciled in at 2.219 million b/d...