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Market Predictions - Global Pricing & Premiums

Iran strains its try for attracting foreign investments and Iraq˘s exports rise, while Nigeria has problems.
Iran this week ignored judges who reckon its return has peaked by declaring that it is in negotiations with Japan’s Mitsui Chemicals and France’s Total SA to lure 60 billion US dollars in foreign investment.

Oil prices expected to be kept erratic as Russia, Iran and Libya all point out increasing output.
After reaching a two-month low on Wednesday, crude went back into positive sign with an increase of 1 percent, with nine consecutive weeks of inventory draws said to be easing concerns about the persistent market glut.

Regarding to OPEC, stiffer market in 2017 is expected; Saudi Arabia said to be trying to support it.
The latter monthly report of the organization of the Petroleum Exporting Countries (Opec) restates its prediction that crude request in 2017 will be higher than its present production – but it also claims, Brexit and other factors will slow the pace of demand growth.

Rise in production of Nigerian oil results in increasing OPEC˘s production
The organization of the Petroleum Exporting countries (OPEC) reports an increase in crude production of 240,000 barrels per day (bpd) in June, thanks to gains created by one of its more trouble-ridden members: Nigeria

Venezuela˘s oil production goes down, whereas China is unable to help due to its own problems
Venezuela’s status as a troubled oil producer is going from bad to worse, with its rolling power blackouts resulting in a 4.8% decreasing in production for May to 2.37 million barrels per day according to reports.

Brexit didn˘t have a negative impact on Dry Bulk Rate.
While world markets have greatly affected due to the UK’s decision Thursday to abandon the EU, dry bulk markets appears to have bucked the trend.

Instruction to owners for a safe supply of bunkers.
Instructions for safe supply from BIMCO & IBIA

Saudi Arabia May Agree in Freezing Oil Production Finally.
If this anticipation which made by a senior delegate of OPEC prove true, the imminent member/non-member conversations to back up oil output could be more substantive than critics believe.

Saudi Arabia, Russia, Qatar, Venezuela Agreed to Cut Oil Production
Even though Saudi Arabia and Russia have come in agreement on Tuesday to freeze their production in an attempt to stop the global oil price reduction, analysts claim that the  initiative will have little or no effect.

Tanker Rates Could be be Increased due to the Stock Build of the Refined Oil Products
Some analysts claim that decreased interest for refined oil items might be a chance for tanker market’s abetment and could result in increasing the rates this year.

Bunker Prices to remain under stress: The thought of cutting crude production has been discarded.
Whilst member and non-member countries have been pressing the Organization of  the Petroleum Exporting Countries (OPEC) to think again about  its production strategy in order restore the balance of  the global oil market, analysts have been pointing out that it is too late for the cartel to do any good.

Cappuccino Bunkers-Singapore
It has come to our attention that some bunker deliveries at Singapore have contained excessive amounts of air. As a result the quantity of fuel delivered and received was significantly overstated. This effect is termed ‘’Cappuccino’’ as the entrained air causes the fuel to ‘’foam’’ which makes traditional manual measurement at the time of delivery unreliable. After a few days the foam tends to collapse and tank measurements then show a significant ‘’loss’’ of fuel. The following guidelines have been compiled to assist ship’s crew with identification of this potential problem and hopefully help with dispute resolution.

WTI oil futures bounce back on falling U.S. rig count
West Texas Intermediate oil futures rebounded from the previous session's steep declines on Monday, amid indications U.S. oil drillers are cutting back on production following a collapse in prices over the summer.

WTI oil futures stuck below $40 ahead of U.S. supply report
West Texas Intermediate oil futures held near the lowest level in more than six years on Wednesday, as market participants looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products to gauge the strength of demand in the world’s largest oil consumer.

Oil futures regain strength as European, U.S. equites recover
Crude oil futures rose on Tuesday, one day after plunging to levels not seen since the peak of the global financial crisis in 2009, as European and U.S. equity markets rebounded from a brutal selloff in the prior session.

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