{"id":37808,"date":"2018-09-15T09:40:26","date_gmt":"2018-09-15T14:40:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37808"},"modified":"2018-09-15T09:40:26","modified_gmt":"2018-09-15T14:40:26","slug":"oil-markets-enter-crucial-period","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37808","title":{"rendered":"Oil Markets Enter \u201cCrucial Period\u201d"},"content":{"rendered":"

Oil Markets Enter \u201cCrucial Period\u201d<\/a><\/h3>\n\"Oil\"<\/picture>\n
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Oil prices edged up this week on lost supply from Iran and Venezuela, although those supply concerns are somewhat offset by worries over demand.<\/p>\n

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OPEC downgraded demand while the IEA said in a report that supply outages are \u201ctightening up\u201d the oil market. With Iran sanctions less than two months away, \u201cwe are entering a very crucial period for the oil market,\u201d the IEA said.<\/p>\n

Oil market remains \u201cfragile,\u201d Russian energy minister says<\/em><\/strong>. Russia\u2019s energy minister Alexander Novak said<\/a> that the global oil market remains \u201cfragile\u201d because of production declines and geopolitical unrest. \u201cThis is huge uncertainty on the market \u2013 how the countries, which buy almost 2 million barrels per day of Iranian oil will act. Those are Europe, Asia Pacific region … There is a lot of uncertainty. The situation should be closely watched, the right decisions should be taken,\u201d Novak said. He said Russia could step in if the market needs more supply. \u201cRussia has potential to raise production by 300,000 barrels (per day) mid-term.\u201d<\/p>\n

U.S. shale companies increased hedging for 2020<\/em><\/strong>. U.S. shale companies took advantage of relatively high oil prices in the second quarter to lock in hedges beyond 2019, according to the Houston Chronicle<\/a> and Wood Mackenzie. Permian shale drillers increased 2020 hedging by 431 percent in the second quarter of this year, an indication that E&Ps are worried about pipeline bottlenecks stretching beyond 2019. WoodMac says the hedging activity that far out is unusual. The risk of hedging is that some companies could eliminate upside exposure if pipelines are completed on time and oil prices rise.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil Markets Enter \u201cCrucial Period\u201d Oil prices edged up this week on lost supply from Iran and Venezuela, although those supply concerns are somewhat offset by worries over demand. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) OPEC downgraded demand while the IEA said in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[2245,5332,16485],"class_list":["post-37808","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-market","tag-oilprice-com","tag-tom-kool"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37808"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37808\/revisions"}],"predecessor-version":[{"id":37809,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37808\/revisions\/37809"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}