Energy Intelligence Briefing articles from September 2007

Energy Intelligence Briefing archives from September 2007

August oil supply falls 1 million b/d short of demand.
September 5, 2007... NEW YORK -- A relatively benign growth in global August products consumption was enough to create a 1 million barrel per day gap between worldwide oil supply and demand, setting the stage for a supply shortfall in the third quarter, when stocks...

Iraqi oil exports slide In August from record July sales.
September 7, 2007... NEW YORK--Iraqi crude exports in August slipped by 200,000 barrels per day from July's high for the year, coming in at 1.59 million b/d. As has generally been the case, all sales were shipped from the southern export terminals in the Mideast...

Jakarta's ghost hovers over Vienna as Opec gathers.
September 7, 2007... NEW YORK--As Opec meets in Vienna Sep. 11 to decide on future output volumes, a key issue on oil ministers' minds will be the fear that the global credit crunch has not run its course and might rattle economies worldwide and startle speculators...

Defense: Wyatt had "Relationship" with "a US agency".
September 10, 2007... NEW YORK--Legendary Texas oil trader Oscar Wyatt passed information about Iraq to "an agency of the US government" from 1978 to 1989, his lawyers claimed during opening statements in federal court on Monday. But the government says Wyatt...

Saudi Arabia wants Opec to formally open the taps.
September 10, 2007... VIENNA--Opec oil ministers arriving in Vienna say the oil market is well-supplied, but are discussing whether to support a Saudi Arabian proposal to increase output to meet peak winter crude demand when they formally meet here on Tuesday....

Saudis win clash: Opec lifts target 1.45 million b/d.
September 11, 2007... VIENNA--Under heavy pressure from Saudi Arabia, Opec oil ministers agreed on Tuesday to increase actual output by 500,000 barrels per day from Nov. 1, aiming at meeting peak Northern Hemisphere winter demand and preventing oil prices from...

Russia slightly increases oil exports in fourth quarter.
September 17, 2007... MOSCOW--With winter on the horizon, Russia plans to Russian Oil Exports Via Key Outlets crank up overall shipments along the Druzhba pipeline in the last three months of the year in order to fulfill a scheduled boost in crude oil exports of...

Demand runs ahead of supply as oil inventories fall.
September 18, 2007... NEW YORK--Instead of generating a surplus of supply st Snapshot and allowing for a normal stockbuild ahead of the winter, global oil demand again ran ahead of supply in August, counter to the usual seasonal trend. The third quarter balance is...

North Sea loadings rise, as Brent closes in on record.
September 19, 2007... LONDON--The Brent crude oil futures market on ICE Futures has convincingly turned around from last month's debacle. Having crashed to a $68.14 low on Aug. 21, the front-month contract climbed to a $78.57 intraday high on Wednesday--still 8...

Kirkuk sales lift Iraqi oil exports, volumes to US drop.
September 25, 2007... NEW YORK--Iraqi oil exports in September are expected Iraqi Loading Program For September 2007 to reach 1.725 million barrels per day, nearly matching July's year-high 1.77 million b/d, as a tender for nearly 5 million barrels of oil from the...

Russian loadings dip, Transneft head decision looms.
September 28, 2007... MOSCOW--Russia is cutting back crude oil exports ahead of another tax increase in October, while shifting flows away from its flagship Baltic outlet, Primorsk. Russian oil pipeline monopoly Transneft has penciled in seaborne exports of 2.964...

Market compass.
September 28, 2007... As the old song has it, "What Goes Up Must Come Down"--and crude oil futures have done just that; but they have also come right back up again! Front-month ICE Brent futures reached a record high $79.94 on Sep. 21, its climb to the top fueled by...