Oil Prices To Remain At Current Levels: Bankers

Monday, November 08, 1999
Central bankers meeting at the Bank for International Settlements reportedly expect world oil prices to remain around current levels, starting that higher prices are not in producers' interests. Oil prices, which had doubled since producers inside and outside the Organization of Petroleum Exporting Countries agreed in March to cut two million barrels from daily output, came under selling pressure in recent weeks on perceptions that some producers were easing restraints. Benchmark Brent futures hit their highest level in three years in September, at $24.30. Brent for December delivery was trading around $22.73 on Monday.

Tanker Trends

BV Classes First LNG-fuel Oil/Chemical Tanker

Leading international classification society Bureau Veritas has classed the first LNG-fuelled newbuilding oil/chemical tanker, the 15,000 dwt Ternsund, built under BV class at Avic Dingheng,

SK Shipping Selects 5X72DF for LNG Carriers

Securing the position of its low-speed low-pressure X‑DF engines as market leaders, Winterthur Gas & Diesel (WinGD) has been selected to supply two 5-cylinder X72DF

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

 
 
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