Video: Not Surprising It Was Hard for OPEC+ to Reach Deal, Emirates NBD's Haque Says
- WTI to average $54.19 a barrel in 2019; last estimate $64.85
- Producers planning to boost spending in the U.S. next year
By Stephen Cunningham / Bloomberg
WASHINGTON
Petroleumworld 12 12 2018
The U.S. government left its forecast for domestic crude production unchanged for 2019 even with prices averaging almost $11 a barrel lower than its previous estimate.
Oil tanker owners find solace in shale
as OPEC readies cuts
Dana Smillie/Bloomberg
The Gemini Star oil tanker, owned by Vela International Marine, a subsidiary of Saudi Aramco.
Video: Oil Extends Gains on Stockpile Optimism
- Expanding U.S. output should offset reduced number of cargoes
- Market also seen helped by light fleet growth, new fuel rules
By Firat Kayakiran / Bloomberg
LONDON
Petroleumworld 12 12 2018
America's shale boom could be about to spare the world's oil tanker owners from a typical OPEC ravaging.
The producer group and allies decided on Dec. 7 to restrict output from the start of next year by about 1.2 million barrels a day, adding to deeper cuts two years earlier. Under normal circumstances, that would be a dire turn of events for owners who see cargoes cut almost overnight. But shipping analysts are predicting that, this time, the rise of U.S. shale may well shield shippers.
Wednesday Dec. 12, 2018
Henning Glostein/Reuters -Oil prices climb Wednesday on OPEC-led supply cuts, Asian stock rally
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Tuesday Dec. 11, 2018
Myra P. Saefong / MarketWatch - Oil logs a modest gain as traders weigh output-cut pact, demand prospects
Reuters - Eletrobras sells unit at auction, assumes $3.3 bln debt
Reuters - OPEC and non-OPEC cooperation deal to be signed in three months -UAE
Richard Lough / Reuters - Yellow vest' protests stunt French growth, Macron under pressure
Natalia A. Ramos Miranda / Reuters - Chile drives electric vehicle rollout in Latin America
Laurie Goering / Thomson Reuters Foundation - Fossil fuel tax proposed to cover rising costs of wild weather
John Kemp / Reuters - Oil traders focus on deteriorating economic outlook rather than OPEC
Reuters - Kuwait Petroleum Corp aims to produce 85,000 bpd of heavy crude by 2020/21- CEO speech
Jessica Jaganathan / Reuters -Australia overtakes Qatar as world's biggest LNG exporter - Refinitiv data
Ron Bousso Scott / Reuters - BP targeted with first shareholder resolution on climate goals
Amanda Cooper / Reuters - Oil rises Tuesday thanks to stronger equities, Libyan supply outage
PRICES
Real time prices by Bloomberg
Updated: Dec. 12, 2018 09:14 GMT
(Closing prices)
* Venezuelan basquet average weekly price
TOP NEWS
U.S. shale becomes oil industry's safe haven as prices languish
Bloomberg
Video: Oil Market Volatility Is Here to Stay, ConocoPhillips CEO Says
- Conoco, Chevron, Hess, Anadarko all increase shale spending
- Majors seek quick returns as opposed to costly megaprojects
By Kevin Crowley , Alix Steel , and Rachel Adams-Heard / Bloomberg
HOUSTON/NEW YORK
Petroleumworld 12 11 2018
Pompeo blasts Russia for strategic bombers sent to Venezuela
Andrew Harrer/Bloomberg
Mike Pompeo, U.S. Secretary of State
- U.S. secretary of state criticizes both countries on Twitter
- Russian military planes landed in Venezuela, TASS says
By Ilya Arkhipov and Stepan Kravchenko / Bloomberg
MOSCOW
Petroleumworld 12 11 2018
Oil extends gain on OPEC+ output-cut pact
and Libya field outage
Simon Dawson / Bloomberg
Video: What the OPEC+ Production Cut Means to the Global Oil Market
- Libya's Sharara oil field said halted amid threats to workers
- Brent futures rises as much as 1.1 percent after Friday's jump
By Sharon Cho / Bloomberg
SINGAPORE
Petroleumworld 12 10 2018
Goldman Sachs and Morgan Stanley warn oil uncertainty to persist
Luke Sharrett/Bloomberg
Construction cranes used in the offshore petroleum industry stand at Port Fourchon, La., on Feb. 8, 2018.
Video: Brent-WTI Spread to Widen in 2019, Stratas Advisors' Petersen Says
- Lack of country-level targets in OPEC+ deal may weigh on crude
- U.S. shale growth in 2H 2019, non-OPEC output seen as risks
By Heesu Lee / Bloomberg
SEOUL
Petroleumworld 12 10 2018
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NEWS HEADLINES
Monday Dec. 10, 2018
Myra P. Saefong / MarketWatch - Oil ends at a 1-week low Monday after failing to extend Friday's OPEC-led price surge
Reuters -Mexico's government says to start refinery tenders by March
Reuters - Mexico to cancel February auctions for oil and gas blocks - energy secretary
Rania El Gamal / Reuters - Saudi oil exports seen down 1 mln bpd in Jan from Nov levels
Reuters - Brazil environment regulator denies Total permit to drill Amazon basin
Jennifer Hiller/Reuters -U.S. shale producers see OPEC pullback helping 2019 profits
Reuters - Trump administration set to relax Obama-era water protections
R. El Gamal, O. Astakhova, S. Nasralla / Reuters - OPEC, Russia agree Friday to cut oil output despite Trump pressure
Reuters - Mexico sets January Maya price for international buyers
Reuters - U.S. oil drillers cut most rigs since May 2016 -Baker Hughes
Amanda Cooper / Reuters - Oil gives up some of its OPEC gains Monday as stock markets sag
PW PREVIOUS NEWS HEADLINES
Venezuela- México-Bolivia-Perú-Colombia-Ecuador- Brasil
Weekend
Petroleumworld's
Opinion Forum
Viewpoints on Energy, Geopolitics, and Civilization
Editorial- Commentary
John Hall/AlfaEnergy:OPEC
& NON OPEC Hold Together
The 175th Ordinary Meeting of the OPEC Conference, 5th. OPEC
and non-OPEC Ministerial meeting, Vienna, Austria, 6-7. December, 2018
Today, with Russia and other non-OPEC members present,
came the news that they have control and will cut by 1.2 mbpd.
Opinion - Analysis
Nate Graham / The Dialogue.org: The Unfinished
Business of Mexico's Energy Reform
breakingenergy.com
Mexico has immense untapped renewable energy potential.
The first three long-term power generation auctions have demonstrated
that solar and wind are by far the most competitive renewable technologies
in the Mexican market.
Lagniappe
Adam Gopnik / The New Yorker:
The Yellow Vests and Why There Are
So Many Street Protests in France
Charles Roberge / REA / Redux
Protests like the gilets jaunes movement occur, in part, because the French feel that,
to be seen at all by their highly centralized government, they have to take to the streets.
President Emmanuel Macron, for, as it happens, impeccably green reasons:
the plan was to wean France off fossil fuels by making them more expensive,
and to encourage the use of renewable sources.
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Norway 
Jonathan Bernstein /Bloomberg: Impeachment is getting more likely 
Adam Entous and Jon Lee Anderson / The New Yorker: 
