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How To Trade The Turkish Crisis
by Martin Tillier
17 Aug 2018 at 4:00pm
Financial markets reacting negatively to a seemingly obscure or remote risk was commonplace not that long ago. Whether it was a slightly disappointing Chinese growth number, fears about the future of the Euro, or concerns about Greek debt, much of the recovery from the recession has been about lurching from worry to worry. In the last couple of years, however, that has eased. There has been a focus on improved global growth, lifting stocks as well as growth dependent commodities such as oil. Sure, the OPEC+ agreement to cut output has helped, but?

Aramco Ready To Invest To Meet Future Oil Demand
by Julianne Geiger
17 Aug 2018 at 4:00pm
Citing $1 trillion in planned investments lost since the market downturn began, Aramco?s chairman of the board of directors Khalid Al-Falih issued a battle cry to the world?s other oil producers in its latest report, Saudi Aramco Annual Review 2017. The message: mature oil fields are seeing an increase in declining production rates, and this must be offset by continued investments in the industry if the world is to meet what is thought to be an 1-1.5 million barrel per day annual demand growth rate in coming years. ?To respond?

Global Energy Advisory ? 17th August 2018
by Editorial Dept
17 Aug 2018 at 4:00pm
The Permian once again reaffirmed its status as the star shale play in the United States after Diamondback announced it had inked a merger deal worth $9.2 billion with peer Energen. This is the second Permian deal for Diamondback within a week, after it announced the acquisition of Ajax Resources for $1.2 billion. The Energen deal?all-stock?was prompted by an activist investor, Corvex Management, which has been vocally unhappy about the company?s weak shareholder returns. This aspect of the deal highlights an ongoing trend in?

Demand Pitfalls, High Supply Threaten Long-Term Trend
by Jim Hyerczyk
17 Aug 2018 at 4:00pm
Despite rebounding on Thursday and early Friday, October West Texas Intermediate crude oil futures are heading for a third consecutive weekly decline and its sixth weekly lower close out of seven amid increasing concerns about slowing global economic growth that could hit demand for petroleum products. Additional bearish factors include data released earlier this week showing a large build in U.S. inventories. The crisis in Turkey also contributed to the weakness by driving up demand for the U.S. Dollar. This lead to a broad sell-off in dollar-denominated?

U.S., China Trade War Puts A Lid On Oil
by Nick Cunningham
17 Aug 2018 at 4:00pm
The oil market has suddenly gone south in recent weeks, with cracks in the global economy starting to drag down oil. The U.S.-China trade war is one of the drivers of the souring climate. But that conflict could get a lot worse in the months ahead. The latest flashpoint is the lira crisis in Turkey, which is dragging down other currencies and sparking fears of an emerging market crisis. But the problems have been building for some time. The IEA warned last week that the oil market has been ?cooling down,? which was partly the result?

Bears Are Back In The Oil Market
by Editorial Dept
17 Aug 2018 at 4:00pm
Friday August 17, 2018 In the latest edition of the Numbers Report, we?ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we?ll dig into some data and provide a bit of explanation on what drives the numbers. Let?s take a look. 1. Oil prices testing lows (Click to enlarge)- WTI fell to $65 per barrel on Wednesday, flirting with the 200-day moving average. - WTI traded above that threshold for much of the past year. - The 200-day moving average is a key resistance point. It offers?

WTI Set For Longest Weekly Losing Streak Since 2015
by Tsvetana Paraskova
17 Aug 2018 at 3:30pm
WTI Crude prices were up early on Friday but still headed for a seventh consecutive weekly loss?the longest losing streak since 2015?as fears of escalating trade wars and a rout in emerging markets and their weakening currencies amid the Turkish turbulence had investors worried about the possible fallout on global oil demand growth. At 11:28 a.m. EDT on Friday, WTI Crude was up 0.63 percent at $65.87 and Brent Crude was trading up 0.53 percent at $71.81. Yet, both benchmarks were on course to post another weekly loss, which would be?

Security Concerns Over Libya?s Oil Attracts Huge Freight Premiums
by Tsvetana Paraskova
17 Aug 2018 at 3:00pm
Persisting security concerns over Libya?s oil export capacity and the political divisions in the country fetch large tanker freight premiums for shipowners daring to call at Libyan ports for crude oil loadings, shipbroker and shipowner sources told Platts on Friday. Earlier this week, Libya?s crude oil production exceeded 1 million bpd for the first time since June, when port blockades and a kidnapping caused production outages that within a month brought production to as little as 670,000 bpd. Despite the production recovery, fresh?

Analysts: Russia?s Oil Industry Won?t Crumble Under U.S. ?Bill From Hell?
by Tsvetana Paraskova
17 Aug 2018 at 1:00pm
The ?bill from hell? of hard-hitting sanctions against Russia that U.S. Senators introduced earlier this month is unlikely to have a wide-ranging impact on Russia?s oil industry, analysts and economists tell Reuters. Since the United States slapped sanctions on Russia in 2014 over the Crimea annexation, Russian oil firms have drastically cut their exposure to Western bank funding, but this simply increased Russia?s reliance on domestic drilling and Moscow-derived oil field technology in its attempt to reduce Moscow?s?

Cracks In Global Economy Weigh On Oil Markets
by Tom Kool
17 Aug 2018 at 12:00pm
Oil posted steep losses mid-week on sudden concerns about global economic stability. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge)Friday, August 17th, 2018 Turkey?s currency crisis has raised fears of destabilization in emerging markets. With higher financial risks in mind, traders sold off oil. EIA?s bearish report. The EIA reported a 6.8-million-barrel increase in crude stocks this week, sending prices down on Wednesday. The abnormally large?

Production At Libya?s Largest Oil Field Risks Shutdown, Again
by Tsvetana Paraskova
17 Aug 2018 at 11:00am
Just as Libya?s oil production recovered to a two-month high of over 1 million bpd, fresh protests at the oil terminal and refinery servicing the country?s largest oil field, Sharara, threaten to shut down production again, just days after output had been nearly restored to the levels before the kidnapping of oil workers last month. Sharara, which has the capacity to pump 340,000 bpd, has seen production recovering to around 300,000 bpd this week, ramping up from around 218,000 bpd last week. But renewed protests by workers who threaten?

U.S. Drillers Turn On The Brakes?Rig Count Remains Unchanged
by Julianne Geiger
17 Aug 2018 at 10:23am
Baker Hughes reported no change to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs stayed at 1,057, according to the report, with the number of active oil rigs and the number of gas rigs staying the same. The oil and gas rig count is now 111 up from this time last year. Oil prices had been trading up earlier on Friday, but prices were still on track to end the week in the red. In fact, this week marks the seventh weekly loss as trade wars, unrest in Turkey, and anticipated Iranian production loss sparked fears?

Total To Boost Nigeria Oil Production By 200,000 Bpd
by Irina Slav
17 Aug 2018 at 9:30am
French supermajor Total will increase Nigeria?s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at an industry event, adding the increase will come from the development of the Egina Deep project. ?Our plan is to maintain aggressive exploration and appraisal wells-drilling to play a part in increasing the hydrocarbon resource base of the nation,? Ahmadu-Kida Musa said at the National Association of Energy Correspondents? Conference. Total currently accounts for?

Nigeria?s State Owned Oil Company To Go Public
by Irina Slav
17 Aug 2018 at 9:00am
The Nigerian National Petroleum Corporation will float 40 percent of its stock on the local stock exchange once the President signs the Petroleum Industry Governance Bill, Nigerian media report. The PIGB is at the heart of an energy sector overhaul aimed at making the corruption-ridden state company profitable. To do this, NNPC group managing director Maikanti Baru said, the company needs to be more commercially driven. For this, it needs cash, which will be raised through the listing. As part of the overhaul, the NNPC will be split into two: the?

SEC Tesla Probe Not New: Report
by Irina Slav
17 Aug 2018 at 7:30am
The Securities and Exchange Commission has been investigating Tesla for misleading statements about its Model 3 for months, unnamed sources in the know told the Wall Street Journal, long before CEO Elon Musk attracted the watchdog?s attention with his tweet about taking Tesla private. At the time, the SEC subpoenaed a parts supplier working with the electric car maker, one of the sources said. Another adds that now the SEC has also subpoenaed members of Tesla?s board of directors to try and find out if and how much they knew about Musk?s?

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