Call on OPEC Oil Increasing Say IEA

Press Release
Monday, May 14, 2012

International Energy Agency (IEA) reports call on 'OPEC crude & stock change' rising

IEA reports that global oil supply increased by 0.6 mbd to 91.0 mbd in April, 3.9 mbd above last year. Higher Iraqi, Nigerian and Libyan supplies lifted OPEC production by 0.41 mbd, to 31.85 mbd.

The ‘call on OPEC crude and stock change’ is raised by 0.2 mbd to 30.9 mbd for 3Q12 and by 0.4 mbd to 30.7 mbd for 4Q12, with the 2012 average now 30.3 mbd.

OPEC has increased output for seven months running and volumes are now nearly 3 mbd above April 2011 levels. Higher OPEC production has, in part, offset constrained non‐OPEC supplies stemming largely from unplanned outages. OPEC’s Gulf producers also appear to have ramped up output ahead of the anticipated disruption in Iranian crude flows in coming months as the EU’s 1 July oil embargo nears.

Global crude throughputs reached a seasonal low of 73.4 mbd in April, coinciding with a peak in refinery maintenance. Crude runs are expected to rise sharply from May onwards, as refiners complete turnarounds and meet seasonally stronger demand.
 

 

 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

Stena Bulk Joins World Ocean Council

Stena Bulk reports it is the first Swedish shipping company to join the World Ocean Council (WOC), a global organization that converges a diverse range of maritime

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

Energy

Fourth Rig Delivered to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Coatzacoalcos, to Mexico’s Central Panuco S.

Massive LNG Absorber Shipped to Malaysia

Successful transport of 1,480t absorber for biggest LNG plant worldwide in Malaysia.   1,480 tons and a high center of gravity made the transport of an absorber

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Fuels & Lubes

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Marine Power

ClassNK Approves Niigata Dual-fuel Engine Design

Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2696 sec (4 req/sec)