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Feature: OPEC Guide

February 27, 2015
Recent comments from OPEC's Nigerian president and the oil minister of top producer Saudi Arabia show just how divided the group remains after its November decision not to reduce crude output.
Also in this feature
OPEC more optimistic about own crude demand
OPEC and IEA forecasts for the week ended February 13 suggest that lower oil prices will have a significant impact on non-OPEC oil supply later this year.

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News Headlines

US fuel oil demand hits record low 257,000 b/d in 2014, down 50% from 2009: EIA
Houston (Platts)--27 Feb 2015 332 pm EST/2032 GMT
US residual fuel oil demand in 2014 was a record low 257,000 b/d, down by half from 2009 and further evidence the product's utility is waning, Energy Information Administration data showed Friday.
Toluene arbitrage from Europe to the US not attracting interest: trade
London (Platts)--27 Feb 2015 330 pm EST/2030 GMT
The open toluene arbitrage from Europe to the US has yet to attract interest from traders, market sources said Friday.
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Coal Watch

How lower natgas prices, higher inventories are affecting US coal market

February 27, 2015 (7:18)

Platts and Bentek analyze recent trends in US coal production, the role of geography energy production costs, and the theoretical coal-to-gas switching potential.


US ethanol producers cast a wider net for profits through exports
February 25, 2015
After the US National Ethanol Conference, the industry sets its eye on exporting and timing production maintenance to make some use of thin margins.
What will save US condensates from being a benchwarmer in the global export game?
February 23, 2015
Brain Scheid discusses the disappointing launch of the US condensate export market and how it's similar to the 1984 NBA Draft..
US steel scrap dealers see largest single-month price drop since 2008
February 20, 2015
The February ferrous scrap buy week in the US had an unexpectedly large price drop, and 2014 was the lowest level of US scrap exports since 2006.
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Price Focus

US investment bank Goldman Sachs cut sharply Monday its forecasts for average oil prices in 2015 but said sliding US shale production could see the global oil market rebalance by the end of the year. Goldman said it expects Brent crude to average $50.40/b a barrel from $83.80/b, as global oil price continue to their rapid descent into near six-year lows. WTI is expected to average $47.15 a barrel, down from a previous forecast of $73.75/b, the bank said.

The Barrel Blog

February 26, 2015
EOG Resources made the call of forfeiting production growth this year, in contrast to many oil companies cutting capex but assuring the market they can still grow production.
February 26, 2015
Much has been made of the domestic light sweet crude flooding US markets, and we attempted to capture some key points about Light Houston Sweet in this infographic.
February 25, 2015
Filing unfair trade cases is like chemotherapy. Both remedies are intended to protect the host from a serious threat, but there are side effects that are nearly as dangerous as the cure itself.
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Americas Refined Oil ProductsPublished January 2015

The Americas Refined Oil Products Guide contains the primary specifications and methodologies for Platts American Products assessments.

© 2015 Platts, McGraw Hill Financial. All rights reserved.