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Norway

EU markets slip, boost ship demand
Published 3 Sep 2019 by
- Trevor Sikorski
- James Waddell
Please note that users licensed for the data service can access LNG freight rates by clicking here.Northwest European near-curve prices falling in recent days is driving up demand for LNG shipping. The contracts have weakened relative to Asian LNG markets, which will encourage more Atlantic basin..
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Broken correlations
- Oil
- Perspectives
Published 2 Sep 2019 by
- Amrita Sen
- Christopher Haines
Users licensed for the data service can access our global balances.We have rarely had a situation where the physical market has been extremely strong (with some crude differentials even at record highs and term structure consistently backwardated) for almost an entire year and flat..
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Winter lock-in?
Published 30 Aug 2019 by
- Trevor Sikorski
With summer effectively over for the LNG market, the focus on the market is turning to winter. The global gas market is still in the grip of robust supply growth. JKM front-winter prices are now 7 $/mmbtu lower y/y. While there is always potential upside from cold winter weather, the downside con..
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Weekly North American NGLs update: Insane in the butane
- LPG and NGLs
- E-mail alert
Published 29 Aug 2019 by
- Samantha Hartke
- Stefan Ulrich
Fundamentals August 2019
- Oil
- Fundamentals
Published 22 Aug 2019 by
- Amrita Sen
- Virendra Chauhan
- Michele Lewis
- Koen Wessels
- George Dix
- Christopher Haines
- Richard Jones
- Richard Mallinson
- Valeria Daza Cajigal
Fundamentals is our monthly review of global oil data, this is the August 2019 edition.Crude oil balance:We have increased our Q2 19 build to 0.2 mb/d following a 0.1 mb/d downward revision to East of Suez runs.We have cut our Q3 19 draw by 0.3 mb/d to 2.1 mb/d amid unplanned refinery outages and..
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Weekly North American NGLs update: Assuming the position
- LPG and NGLs
- E-mail alert
Published 22 Aug 2019 by
- Samantha Hartke
- Stefan Ulrich
September slump
Published 19 Aug 2019 by
- Jane Rangel
- James Waddell
Europe is poised to enter September with a massive 18.5 bcm y/y storage overhang, making it look increasingly likely that the recent drop in pipeline supply will need to be sustained—or exacerbated—well through September. It is clear that the reduction in supply since July will not be..
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Norway
Published 16 Aug 2019 by
- Jane Rangel
Norwegian gas production was 0.9 bcm lower y/y at 9.5 bcm in July. Annual maintenance was scheduled to cut July output by around 0.7 bcm y/y, which suggests that producers opted to turn down some flexible supply for commercial reasons. We expect a y/y drop in production in August-September will c..
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Key agency forecasts
Published 16 Aug 2019 by
- Amrita Sen
- Richard Mallinson
- Matthew Holland
- George Dix
- Richard Jones
The past two weeks have seen all three of the key agency forecasts published. Last week saw both the EIA publish its STEO (Tuesday) and the IEA the OMR (Friday), today OPEC released its MOMR. The collective prognosis from the three key agencies is that 2019 demand growth is disappointing, versus..
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Norway oil data – July 2019
- Oil
- Data review
- Norway
Published 16 Aug 2019 by
- Amrita Sen
- Christopher Haines
Norwegian liquids production hit 1.80 mb/d in July, up by 0.40 mb/d m/m following June maintenance but still lower y/y by 0.11 mb/d. Production was 2% higher than the Norwegian Petroleum Directorate’s (NPD) forecast for the month, the first such instance this year when output has exceeded N..
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OPEC August Oil Market Report Summary
- Oil
- E-mail alert
Published 16 Aug 2019 by
- Richard Jones
- Matthew Holland
Global arbs and trade flows
- Global arbs and trade flows
- Outlook
Published 14 Aug 2019 by
- Amrita Sen
- Christine Armstrong
- Stephen Wolfe
- Richard Mallinson
- Richard Jones
- Christopher Haines
Users can access global trade flows data through our data service. After falling to 44.3 mb/d in July, the lowest level since August 2017, global waterborne exports are expected to rebound only slightly by October. Although lower demand expectations and the escalating US–China trade wa..
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Northwest Europe
Published 9 Aug 2019 by
- Trevor Sikorski
- Jane Rangel
Europe has begun August with a steep rally in gas prices, just like July, although this month’s price move should be shorter-lived. The bullish factors—an uptick in European LNG reloads and forecasts for unusually hot Asian weather—are not significant enough to alter bearish fun..
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IEA August Oil Market Report Summary
- Oil
- E-mail alert
Published 9 Aug 2019 by
- Amrita Sen
Tug-o-war
- Oil products
- Light ends Outlook
Published 9 Aug 2019 by
- Robert Campbell
- Koen Wessels
- Nevyn Nah
- Michele Lewis
- Caroline Still
- George Dix
- Valeria Daza Cajigal
- Devanshi Kothari
Traditional suppliers of gasoline to the US East Coast have responded with such verve to the shutdown of the Philadelphia Energy Solutions (PES) refinery that the risk of a spike in gasoline prices towards end-summer, which we highlighted last month, has receded somewhat. Aside from some minor bl..
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