01192017Thu
Last update: Thu, 19 Jan 2017 05am

Asia

Markets - Energy - Asia

Iran crude oil exports to hit 5-month low in Dec TOKYO: Iran's crude oil exports in December are set to fall 8 percent from November to a five-month low, a source with knowledge of its preliminary tanker schedule said, as lower shipments to China and others in Asia offset bumper exports to Europe.Iran was exempted from last month's OPEC deal to reduce output by 1.2 million barrels per day (bpd) starting from January, and had been expected to boost its output slightly.But Iran's December crude exports excluding condensate are set to fall to 1.88 million bpd, from 2.04 million bpd in November, the source familiar with its export situation said. That may be a sign it is having trouble maintaining output after the lifting of sanctions this year led to a surge in production.Exemption from the deal agreed by the Organization of the Petroleum Exporting Countries (OPEC) was a victory for Tehran, which has argued it needs to regain the ...

Markets - Energy - Asia

Middle East Crude-Benchmarks soften despite ADNOC cuts SINGAPORE: The Middle East crude benchmarks softened on Tuesday amid ample supplies despite OPEC's pledges to cut production from January.Abu Dhabi National Oil Company (ADNOC) on Tuesday said it would cut crude supplies by 3-5 percent across its three export grades to meet commitments under an OPEC deal to curb production.The move is among the first visible indicators that oil markets could be physically tighter next year as the Organization of the Petroleum Exporting Countries ...

Markets - Energy - Asia

Asia Fuel Oil-Hedging activity lifts swap values SINGAPORE: Values of near-dated 380-cst fuel oil flat price swaps traded on the Intercontinental Exchange (ICE) were higher on Tuesday amid hedging activity by buyers of the fuel who were looking to take advantage of the dip in prices in the previous session caused by declines in crude oil prices, fuel oil brokers and traders said.Flat price swaps for the 380-cst fuel for the first three months of the new year were 40 cents to ...

Markets - Energy - Asia

Oil prices stable, supported as output cuts hit market SINGAPORE: Oil prices were stable on Tuesday, buoyed by soaring demand in Asia and as signs of a crude production cut organised by OPEC and other exporters materialised, tightening a market that has been grappling with years of oversupply.International Brent crude was trading at $55.67 per barrel at 0430 GMT, virtually unchanged from its last settlement.U.S. West Texas Intermediate (WTI) crude was down 10 cents at $52.73 a barrel, with U.S. producers not participating in ...

Markets - Energy - Asia

Saudis order oil cuts to US, Europe ahead of non-OPEC talks SINGAPORE/TOKYO/DUBAI: Saudi Arabia has told its US and European customers it will reduce oil deliveries from January as Russia signalled that a commitment from non-OPEC producers to join OPEC's output limits still faced challenges. Saudi Arabia told the customers about lower supplies in line with the output reduction agreed by the Organization of the Petroleum Exporting Countries last week, according to a Gulf oil industry source familiar with Saudi oil policy. "We told our customers ...

Markets - Energy - Asia

Oil extends gains on hopes for non-OPEC output cuts TOKYO: Oil prices extended gains on Friday on optimism that non-OPEC producers would agree to cut output following a cartel agreement to limit production, but the upside was limited amid uncertainty over the size of the production curbs. The Organization of the Petroleum Exporting Countries (OPEC) will meet non-OPEC nations in Vienna on Saturday seeking their help in curbing a global supply glut. Azerbaijan has said it will come to the Austrian capital armed with ...

Markets - Energy - Asia

Qatar cuts crude prices for November SINGAPORE: Qatar has set its November retroactive official selling price (OSP) for its Marine crude at $43.05 a barrel, down from $48.40 a barrel the previous month, a source with knowledge of the matter said on Thursday. Qatar set its November Qatar Land crude OSP at $45.20 a barrel, down from $50.25 in October. Copyright Reuters, 2016 ...