Energy Intelligence Briefing articles from March 2006

Energy Intelligence Briefing archives from March 2006

Global demand growth trots along, outpacing supply.
March 6, 2006... NEW YORK -- Growth in global oil demand was trotting along at a year-on-year pace of 1.4% in February, down from 1.9% in January and on par with the 1.3% recorded for December, according to preliminary data from EIB sister publication Oil...

Saudis urge Opec to produce as soft quarter looms.
March 6, 2006... VIENNA -- Saudi Arabia on Monday pretty much ruled out official supply cuts at Wednesday's Opec meeting, saying markets are worried by events in oil producing countries and cuts would send the wrong signal on prices. When Opec heavyweight Saudi...

Opec sees puzzling market, steady output, April meet.
March 7, 2006... VIENNA -- Opec ministers will meet Wednesday with a clear majority backing no change in crude oil output--for now. Despite fears of excess supply and weaker demand in the second quarter, political tensions in some key Opec producing nations and...

Iraqi oil exports slip amid allegations of corruption.
March 7, 2006... NEW YORK -- Iraq is likely to see oil exports drop in March as the fight over control of Iraq's key oil ministry continues and political turmoil escalates in Baghdad. According to the latest loading program compiled by Energy Intelligence,...

Opec continues producing as much as market needs.
March 8, 2006... VIENNA -- Setting aside misgivings about soaring stock levels, Opec is to keep its official output ceiling unchanged amid production problems in Nigeria and Iraq that have eaten into crude oil supply in recent weeks. While conceding some impact...

Moscow cuts Q2 crude exports despite milder weather.
March 16, 2006... MOSCOW -- The Russian government has decided to slash crude exports next quarter, despite of easier shipping conditions from less disruptive weather. Volumes are set to drop by 20,000 barrels per day from the first three months of the year....

Supply grows, demand slows, but prices stay over $60.
March 17, 2006... NEW YORK -- The world is going to see a contraseasonal stockbuild in the first quarter. Two months into the quarter, global stocks built by 1 million barrels per day or so, while in a typical year, robust winter demand would normally draw down...

Cloudy crystal ball plagues West African loadings.
March 20, 2006... LONDON -- West African crudes seem set for a mixed May, with higher US demand likely to strengthen light, sweet Nigerian grades, and Asian buyers emitting conflicting signals on whether the recent strength in medium and heavier sweet grades can...

Product price surge sees Russia slash crude loadings.
March 31, 2006... Russia is slashing crude loadings in April, but this time not because of the foul weather that disrupted ports throughout the winter. Instead, with the country facing surging domestic product prices, Russia is attempting to spur domestic crude...

Things look bleak for Iraq exports despite April bounce.
March 31, 2006... NEW YORK -- Tanker loading resumed late Thursday at Iraq's southern Basrah Oil Terminal (BOT), which handles more than 90% of the country's crude exports, after bad weather in the Persian Gulf forced the closure of the port on Tuesday. Export...