EghtesadOnline: Tens of thousands of ships sailing the world’s oceans burn more than 3 million barrels of sludge-like high-sulfur fuel every single day. But, starting next year, the shipping industry will have to comply with rules that should dramatically reduce sulfur emissions.
EghtesadOnline: Surging US oil output will outpace sluggish global demand and lead to a large stocks buildup around the world in the next nine months, the International Energy Agency said on Friday.
EghtesadOnline: The global oil market is “unstable and fragile”.
EghtesadOnline: OPEC said that international trade tensions are hurting demand for oil, slashing its estimates for consumption earlier in the year and predicting further challenges ahead.
EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said Monday US sanctions on Iran and Venezuela plus the renewed military conflict in Libya are contributing to instability in the international oil markets.
EghtesadOnline: OPEC and its allies will probably achieve their goal of draining oversupply from the oil market and boosting prices by next month, says Jeff Currie, global head of commodities research at Goldman Sachs.
EghtesadOnline: The three most closely watched oil market forecasters are all bracing for a significant upsurge in non-OPEC supply growth in 2019 but differ on the extent that global oil supply will outweigh demand.
EghtesadOnline: Forecasting the future of the oil market is crucial, especially for countries where oil export is the lifeblood of the economy and budgets are constructed, deconstructed and reconstructed depending on crude price and production.
EghtesadOnline: OPEC coalition decisions on further global oil market cooperation will be taken next week amid uncertainty over many factors impacting the industry, including Iranian crude export volumes, but Russian oil producers are ready to adjust their production accordingly, energy minister Alexander Novak said.
EghtesadOnline: Russia is committed to its domestic oil producers and it is a mistake to think that Moscow's current policy toward the oil market is a betrayal of Tehran's trust.