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Oil Buyers Guide

Iran Sees ‘No Threat’ From $25 Oil as Prices Slide

January 20, 2015

BY HASHEM KALANTARI AND GOLNAR MOTEVALLI OPEC has no immediate plan to cut its output target for crude, and Iran is strong enough to withstand a deeper slump in prices even if the country must sell at $25 a barrel, Oil Minister Bijan Namdar Zanganeh said.“If the oil prices drop to $25

Oil Plunge Has U.S. Production Rising at Lowest Rate in 9 Months

January 13, 2015

  Oil production from the seven most prolific U.S. fields will expand in February by the slowest rate in nine months as drillers cut spending in response to the lowest crude prices in 5 1/2 years, a U.S. government forecast shows. The seven regions, which account for 95 percent of the nation’s supply growth, will produce 5.52 million

Saudi Arabia Raises Price of Main Oil Grade for Asian Buyers

January 6, 2015

Saudi Arabia raised the cost of its oil sales to Asia in February, prompting speculation the world’s biggest exporter is retreating from using record price discounts to defend market share. Saudi Arabian Oil Co. will sell its Arab Light grade for $1.40 a barrel less than a regional average next month, the company said today in a

Bakken Oil Production May Rise Amid Plunge in Crude Prices

December 23, 2014

This chart was taken from the Bloomberg Brief Oil Buyer’s Guide. To take a complimentary 30 day trial click here. 

Goodrich Strained as Oil Reaches Its Break-Even Prices

December 16, 2014

BY SPENCER CUTTER, BLOOMBERG INTELLIGENCE Goodrich Petroleum bonds due in 2019 have sold off by 50 percent since June, indicating that financing the company’s 2015 capital spending budget with additional debt would be difficult.The company may need oil to be as high as $64 a barrel to be profitable. Goodrich Petroleum’s $250 million

Goldman Sees U.S. Oil Output Maintained as Costs Sink

December 15, 2014

BY BEN SHARPLES U.S. producers, pumping crude at the highest rate in more than three decades, may increase output further as costs decline almost as fast as oil prices, according to Goldman Sachs Group. The slump in benchmark U.S. futures, down more than 40 percent this year, is driving producers

Oil Buyer's Guide 12.9 Featured Image

Cushing Pipeline Outflow Decreases, Genscape Says

December 9, 2014

Monitoried pipeline outflow from Cushing, Oklahoma, decreased sharply last week, dropping by 241,873 barrels a day to average 906,014 barrels a day, according to Genscape. The drop was mostly on the Seaway pipeline, which saw average throughput almost halve, dropping to 183,746 barrels a day during last week, down 161,673 barrels. Average flow on the TransCanada Gulf Coast pipeline fell

Oil Buyer's Guide 12.2

Iraq, KRG Government Reach Agreement on Oil Exports

December 2, 2014

BY KHALID AL-ANSARY AND JAKE RUDNITSKY Iraq reached a deal with the Kurdish authorities on oil exports through Turkey, paving the way for increased shipments to international markets.The deal allows the shipment of 300,000 barrels a day of Iraqi Kirkuk blend to the port of Ceyhan on the Mediterranean along a pipeline

Iraq, Iran and Libya May Be Spared From OPEC Oil Cuts

November 25, 2014

BY MAHER CHMAYTELLI, GRANT SMITH AND RUPERT ROWLING OPEC is considering exemptions for three nations from any potential oil-production cuts, two people with knowledge of the proposal said. Saudi Arabia’s oil minister said he doesn’t anticipate a difficult meeting when the group meets on Nov. 27 to decide its response to slumping crude.

Cushing Pipeline Outflow Increases, Genscape Data Shows

November 18, 2014

Crude pipeline outflow from the Cushing, Oklahoma, storage hub increased by an average of 82,338 barrels a day last week, Genscape said in a report. Both the TransCanada Gulf and Seaway pipelines carried more crude from Cushing last week. Seaway flow increased by 21,890 barrels a day to average 284,922 barrels last week, remaining below the 300,000 barrel-a-day level for the