Posts Tagged ‘Middle East’

Oil demand is recovering, but are we susceptible to irrational exuberance?

The world seems to be using more oil now that it is 40% cheaper than a year ago and especially so in countries enjoying some economic growth momentum.

Depending on who you are listening to, the US, China, India and the Middle East are cited as the main drivers of demand growth in 2015, with consumption in Japan and the Eurozone improving from a low base last year, in line with their economic recovery.

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The Oil Big Five: Marking one year of watching the global oil industry

This month’s version of The Oil Big Five marks its first anniversary and we’re pleased to still be serving up a monthly dose of topics to keep an eye on in the global oil industry.

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UAE, Iraq oil potentials prove as much variation within region as among regions: New Frontiers

In this week’s Oilgram News column, New Frontiers, Tamsin Carlisle and Adal Mirza illustrate the widely varying states of oil production in a region where reserves and potential are bountiful — if they can be tapped.

From the outside, it can be tempting to lump together the Persian Gulf oil states as a homogeneous mass. After all, oil statistics on the region typically talk of the “Middle East” and they export crude to much the same markets, mainly in Asia.

However, as delegates at the Middle East Petroleum and Gas Conference in Abu Dhabi recently heard, not all Gulf oil producers are created equal, and those with some of the biggest reserves may, in coming years, be outperformed by more reliable suppliers.

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How the LME’s warehouse reforms have played a key role in the fall of global aluminum premiums

This dramatic fall in global aluminum premia has taken the majority of market participants by surprise. However, there seems to be reluctance among market participants to identify recent London Metal Exchange warehouse reforms as having had much to do with the drop in regional premia.

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Abu Dhabi’s onshore concession award to Inpex of no great surprise to oil observers

It wasn’t the first time, and it will not be the last. Abu Dhabi struck a deal on April 27 with Japan’s Inpex, awarding a 5% stake in its giant Adco onshore oil concession for the next 40 years from January 1, 2015.

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Beware the oil slick: US polyethylene prices slip and slide to unexpected levels

For two years, US polyethylene prices climbed higher and higher.

For two years, feedstock prices had little-to-no impact on domestic polyethylene contracts. Upward or downward shifts in domestic demand seemed to have little effect.

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Dubai’s national oil company considers expanding upstream presence: Petrodollars

Many have been waiting for mergers and acquisitions— particularly in E&P sectors — to pick up in light of low oil prices, and one case of a downstream-focused company considering acquiring an oil producer caught the attention of Tamsin Carlisle in this week’s Oilgram News column, Petrodollars.

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Desperate times call for inventive measures in Japanese crude buying

Huge inventory losses brought on by the plunge in oil prices in the second half of last year prompted Japanese refiners, desperate to eke out margins, to switch away from some of their staple heavy crude imports from the Middle East in favor of spot barrels from Russia and even far-away Mexico.

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Is politicking pushing oil prices lower?

The immediate reason for the oil price plunge seems fairly clear – producers going gung-ho at a time of weak demand, which is not helped by the buoyant greenback.

What is murkier, perhaps, is how geopolitical agendas and motivations are feeding the bear market.

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The Oil Big Five: Your comments about oil prices worldwide

This is a busy time of year, and between conferences and the reporting of big news events, we’ve been running in several directions at once here at The Barrel. That’s part of the reason why we’re just now getting to your comments about the October version of The Oil Big Five, when we got our analysts and editors to share their biggest issues in the global oil industry.

Today, though, we want to highlight some of your comments. Remember you can always tell us your thoughts through a comment here on the blog, or on Twitter with the hashtag #oilbig5.

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