The Price Of Crude Oil By Market Analysis Company
The price of crude oil and finished the week at 26-30 Sept. 59 and likely weeks 3-7 Oct. 59 by market analysis company, PTT Public Company Limited().
Last week, the price of Brent crude oil (Brent) rose by 1.85 dollars a barrel to close at 48.29 dollars per barrel, and oil price (Dubai) rose by 0.55 dollars a barrel to close at 43.47 dollars per barrel. and the price of crude oil, West Texas’s (WTI) rose by 2.04 dollars a barrel to close at 46.74 US dollars per barrel and the price of gasoline octane 95 rose 0.60 dollars a barrel to close at 58.59 USD. barrels and gasoline rose by 1.12 dollars a barrel to close at 55.36 dollars per barrel, the factors that impact such.
Factors that affect oil prices positively.
OPEC agreed to cut production by 59 August at 33.2 million barrels per day, to 32.5 to 33.0 million barrels per day. To reduce the excess supply And improve the balance of supply and demand for oil in the world market. The Conference Board For detailed information such as production volumes of the member countries. To propose to the Annual General Meeting of the OPEC in the Nov. 30, 59 However, Russia is not a member of OPEC announced a cooperation to increase stability in oil markets.
Shell Petroleum Development Company of Nigeria (SPDC) announced strike action pipeline Trans Niger Pipeline that transports crude oil Bonny Light (currently pumping 180,000 barrels per day), because the fire along the pipeline and the Niger Delta Avenger to sabotage. oil After the termination of negotiations with the government since last August.
EIA reported US commercial crude oil stockpiles. 23 weeks ended Sept. 59, down from 1.9 million barrels last week to 502.7 million barrels, which is counter to analysts surveyed by Reuters expected an increase of 3 million barrels.
Trade union Industri Energi of Norway’s current employees, the company provides drilling services. (Such as Schlumberger, Halliburton), more than 300 protesters have stopped. From 21-Sep-59 results and exploration rig (Rig) number seven podium to discontinue operations. And is likely to expand Employees may join by 1700, which will allow the rig to stop the operation, including 10 podium.
Factors affecting the price of crude oil in the negative.
Ÿ Baker Hughes Inc. reported the number of oil rigs in the United States. 16 weeks ended Sept. 59 rose 7 rig (Rig) the previous week to the highest level in seven months and 425 podium Summary of rigs in the first quarter increased 95 3/59 instead of the previous quarter. page It was the largest increase in the past two years, half of the increase of production in the state of Texas and the Permian New Mexico.
The government of Kazakhstan announced easing restrictions on burning gas. The production of crude oil To prepare oil production at Kashagan production will start in October – Nov. 59 is expected to produce oil in commercial quantities 7 million barrels a 59-61, 21-35 million barrels of oil and 49 million. respectively
President of Arabian Gulf Oil (AGOCO), a subsidiary of the national oil company of Libya. The Company’s current oil production is expected to increase 290 KBD to 350 KBD at the end of 2559, due to crude oil export port of Zueitina (150 KBD) can start the process again. (AGOCO’s crude oil production fell to 150 KBD port after sending out such armed forces to be controlled during the past 59 days, 11-12 September).
Crude oil price
Brent crude and WTI consecutive increase since September 28, three days after the 59 OPEC crude oil production ceiling agreed in preliminary 32.5-33.0 MMBD for the first time in nearly two years, has resulted in negative. practice The need to discuss further details That the production ceiling of each country in the OPEC meeting on Nov. 30, while 59 of the last report both OPEC and Russian oil production hit a record high by Reuters estimate of OPEC crude oil production in September.. . 59, up 70,000 bpd from the previous month to 33.60 million barrels per day. Record Iraq and Libya due to increased production volumes and the Department of Energy reported crude oil production in Russia September 59, up 400,000 bpd from the previous month to 11.11 million barrels per day. A record high after the Soviet collapse. The major US manufacturers It is likely to increase production. Due to higher crude oil will encourage increased production rig (Rig) from a number of oil rigs in the United States. A record high for the month of October 1609 stand at 57 before decreasing violence. Due to the impact of the crisis and slump in oil prices at a record low until the last weekend of May 59, the 316th podium in the manufacturers began to add rigs. 3/59 more evident, especially in the second quarter, which is a decrease of 14 consecutive weeks, the longest since 2554 the demand side, EIA reported US oil demand in July fell 1.3% YoY to 59 at 19.71 MMBD count. a decrease from the previous year. For the first time in half a year. From technical analysis this week, expect Brent crude to move within 47.4 to 52.2 US dollars per barrel and WTI in the 46.0 to 50.8 US dollars per barrel and Dubai are moving in the 43.5 to 48.3 USD. barrel
The price of gasoline
Last week the price of gasoline surged by. Gasoline demand report from the Indonesian company Pertamina of Indonesia have a strong desire to Gasoline imports volume from 8.0 to 8.5 million barrels per month in the quarter, 4/59, mostly from one-term contracts (Term) segments. 88RON amount of 5.0 to 5.5 million barrels and 3.0 million barrels of 92 RON volume, the company JX Nippon oil & Energy Corp., Japan’s largest oil refinery. Closes repair petrochemical Muroran (180,000 barrels per day) Gasoline and Kerosene, which can be produced after the fire. Date: 22 Sep 59 companies Chevron and maintenance CDU (71,300 bpd) refinery in Richmond (243,000 bpd) in California, in the United States for a period of 45 days off and repair the refinery. El Segundo (269,000 bpd) Los Angeles because of the fire, however refinery Yunan Petrochecimal (260,000 bpd) of Petro China plans to move its operations out of the original plan from 2560 to. opening October 59 the refinery has a production capacity of 3.5 million tons per year gasoline at this week’s gasoline price is expected to move within 58.2 to 63.0 US dollars per barrel.
The price of diesel fuel
last week Diesel prices increased Export volume increased number of European Diesel in this period. Due to increased demand from the US, South America, North Africa and Turkey. Due to refinery maintenance shutdowns resulted Diesel on several reserves in Western Europe. (Amsterdam-Rotterdam-Antwerp: ARA) reduced the rate of crude in Mexico fell 56% from a current maintenance plan. The repair of an obstruction Including policies on exports of crude oil, refined itself over in August resulted in 59 Mexican imports of oil products increased by 36% compared to the previous year, and the Korea National Oil Corp., South Korea’s reported demand. Gasoil in August, up 20.4% from 59 months earlier or 10.4% compared to the previous year, to 15.08 million barrels, while export volumes fell 7.7% from the previous month or 13.8% in comparison. a year earlier, to 14.29 million barrels despite the heavy rain in India resulted Gasoil demand for electricity fell. And push for the export volume increased as India’s Essar Oil sold out of Gasoil 0.05% S, including more than 1 million barrels for delivery in October 59 The Arbitrage Asia and east to west off result. Gasoil outstanding in Asia This week, oil prices are expected to move within 55.7 to 60.5 US dollars per barrel.