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1. Crude tests six-week highs as fundamental outlooks tighten
MOSCOW
(MRC) -- Crude oil futures settled higher Oct. 14 as fundamental outlooks turned
more bullish amid reports of improved OPEC+ quota compliance and rising Chinese
crude demand, reported S&P Global. Oil climbed in a late session rally
following a Reuters report stating OPEC+ producers achieved 102% quota
compliance in September. The latest S&P Global Platts survey Oct. 9 found
compliance reached 99% last month, led by the Gulf states, but discipline from
Russia and some African producers continued to slip. Russian energy minister
Alexander Novak said Oct. 14 that OPEC+ did not expect the second coronavirus
wave to impede plans to increase oil output gradually.
http://www.mrcplast.com/news-news_open-377816.html
2.
Oil demand to peak by 2040 as transport demand stagnates post-coronavirus:
IEEJ
MOSCOW (MRC) -- Global oil demand is forecast to peak by around 2040
because transport-fuel demand will decline steeply and economic growth will slow
in the post-coronavirus world, the Institute of Energy Economics, Japan, said in
its annual IEEJ Outlook 2021 on Oct. 15, reported S&P Global. "In the
post-coronavirus era, we expect demand for transport fuels will be curbed
significantly," Shigeru Suehiro, senior economist and manager at IEEJ"s
econometric and statistical analysis group, told an online press briefing. "We
see oil demand peaking in around 2040 as a result of a slowing economy, together
with less fuel demand for cars, aircraft and ships." In its post-pandemic
scenario, the IEEJ forecasts global oil demand will peak at 106 million b/d in
2040 and fall further to 102 million b/d in 2050 mainly due to dwindling demand
for cars, Suehiro said.
http://www.mrcplast.com/news-news_open-377851.html
3.
Refinery in Croatia to undergo maintenance from November
MOSCOW (MRC) --
Croatia"s Rijeka refinery will be optimizing its operations from November "for a
few months" and during that period will "perform regular technological
activities at process units such as catalyst regeneration and preparation of
these plants for the new processing cycle in 2021 through regular maintenance
work," reported S&P Global with reference to the company"s statement late
October 7. Earlier local media reported that the refinery will temporarily halt
production between November and January due to reduced demand caused by the
spring lockdown and a weak tourist season.
http://www.mrcplast.com/news-news_open-377856.html |
