Rig Count Update – March 7, 2013
Number of crude oil drilling rigs in the U.S. was quite stable in the last 6 months. On a year level we had a small decrease.
On world scale number of oil & gas drilling rigs changed only for the change in the U.S.
Posts Tagged ‘Crude Oil’
Tanker Update – March 6, 2013
Same as with dry bulk, we are long time away from recovery, but I tend to think that overcapacity is smaller in wet cargo.
Baltic Dirty Tanker Index rose 3.4%; Baltic Clean Tanker Index rose 1.2%.
Tanker Weekly – January 7, 2013
The fleet is growing slower in tankers than in dry bulk and the order-book is smaller in proportion to the fleet size. The difference is that the volumes are more stable in wet cargo, so overall maybe a bit better situation than in dry bulk, but the diagnose is the same: a lot of scrapping needed to induce some recovery.
Baltic Dirty Tanker Index fell 11.1%; Baltic Clean Tanker Index fell 4.6%.
Tanker Weekly – May 21, 2012
Baltic Dirty Tanker Index rose 0.7%; Baltic Clean Tanker Index rose 0.3%.
Rig Count Monthly – May 8, 2012
Massive fall in gas drilling in recent months coupled with large increase in oil drilling.
Tanker Weekly – May 7, 2012
Baltic Dirty Tanker Index fell 2.1%; Baltic Clean Tanker Index fell 0.6%.
U.S. Petroleum Weekly – May 4, 2012
The oil price is holding up quite well despite weaker demand and higher stockpiles. The reason for that are tightness in the brent market (which reflects in other markets via. arbitrage) and geopolitical risks (mostly related to Iran nuclear program).
Tanker Weekly – April 21, 2012
Baltic Dirty Tanker Index fell 5.4%; Baltic Clean Tanker Index fell 0.6%.
Same as with dry bulk…nothing changed.
Tanker Weekly – March 12, 2012
Baltic Dirty Tanker Index rose 3.5%; Baltic Clean Tanker Index fell 3.1%.
U.S. Petroleum Weekly – January 26, 2012
Crude stocks rose 3.5 million barrels; Gasoline stocks were down 0.4 million barrels; Distillate stocks fell 2.5 million barrels; Propane/propylene stocks fell 0.5 million barrels; Other oils stocks fell 2.5 million barrels; Total crude oil and petroleum stocks were down 4.3 million barrels.
Tanker Weekly – January 23, 2012
Baltic Dirty Tanker Index rose 7.3%; Baltic Clean Tanker Index was unchanged for the week.
Monthly Strategy – January 2012
The consensus with which I agree is that the Euro zone is heading into a recession. While the economic activity has somewhat improved over the last months in the U.S. I remain doubtful whether the U.S. can escape the recession when Europe enters one. The data coming from China doesn’t (jet) point to a hard landing. For the time being it looks like that the Chinese government is in control. The measures to contain inflation and raising real-estate prices are successful, while in the same time China is has taken early steps to increase domestic consumption and re-balance the economy. One should not disregard and keep close watch on soft data coming from China especially in real estate and commodity related industries which are not reflected in the official data and could be pointing to serious issues.
Tanker Weekly – January 16, 2012
Baltic Dirty Tanker Index rose 3.0%; Baltic Clean Tanker Index rose 12.1%.
U.S. Petroleum Weekly – January 11, 2012
The price of crude oil is shaped on one side with fears of global economic slowdown and on the other side western countries efforts to discourage Iranian crude oil buying. In my view, geopolitical risks are keeping the price high.
Tanker Weekly – December 19, 2011
Baltic Dirty Tanker Index rose 3.0%; Baltic Clean Tanker Index rose 12.1%.