Naphtha’s price surge in May and June has made LPG more cost effective for petrochemical crackers that are able to switch feedstocks. LPG prices moved only slightly higher during the naphtha rally, and especially so in producing regions such as
Algeria delivers the majority of its crude and condensate to the European market. Deliveries to Northwest Europe, Algeria’s top customer, have been running at an average of 314,000 barrels per day through the first 10 months of 2019, some 15
Crude oil prices continue to show strength, gaining momentum from the shortage of heavy oil on the market and steady OPEC constraint.
This morning’s appearance on CNBC Squawk Box discussed the abundance of light crude amid a lack of heavy barrels ahead of IMO 2020. We also discussed signs of weaker oil demand from China and Germany, while Russia is ramping up product exports.
Today’s appearance on BNN Bloomberg addressed the key themes of 2019, including OPEC production cuts, US Shale, weakness in the Chinese economy, as well as the sound that electric vehicles make when they reverse.
Today’s blog post covers Iran oil exports, as well as from Saudi Arabia and Iraq. We also take a look at the falling break-evens of US shale.
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