News & Analysis  - Oil

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.
North Sea CFD backwardation encouraging crude out of storage
London (Platts)--27 Feb 2015 806 am EST/1306 GMT
A strengthening North Sea crude oil market has caused deeper backwardation in the CFD curve, encouraging European refiners to run crude from their own storage, traders said, affecting a wide variety of regional grades.
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Podcasts

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..
Interview: Dorothee Arns, Cefic, on the strengths, weaknesses of European petrochemicals
February 17, 2015
Dorothee Arns, executive director of the Cefic Petrochemicals Programme talks on the strengths and weaknesses of Europe's petrochemical industry.
Conclusions from International Petroleum Week 2015 events in London
February 16, 2015
Platts editors examine IP Week events in London, the general mood amongst the delegates and the impact of recent crude oil price volatility on traders.
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Commodity Pulse

The challenging economics of oil production in a low price environment

February 02, 2015 (17:46)

Dave Ernsberger and Ross McCracken analyse oil companies' capex and operational costs and discuss when cut-backs might affect global supply.


Oil Infographics

It could be argued that the history of oil is the history of the modern world. And Platts, a leading provider of analysis, news and prices for the industry, has played a significant role in this amazing story.

Of all the natural resources that have been used to build our world, surely oil is the most pervasive. We all know that oil provides the plastics in the computer we use, has driven revolutions in fashion, industry and transport, and even powers our homes. No one's life is untouched by this immense resource.


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 27, 2015
US ethanol and biodiesel couldn’t be further apart when it comes to their perspectives for the immediate future.
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 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.
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Asia Pacific and Middle East Refined Oil Products methodologyPublished November 2014

The Asia Pacific and Middle East Refined Oil Products Guide contains the primary specifications and methodologies for Platts Asia Products assessments.






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