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Oil & Gas January 23, 2017 01:00:18 AM

Saudi oil shipments soared ahead of OPEC production cut

Polymers
ScrapMonster Author
December 2016 saw a dramatic increase in Brazilian crude imports to 1.05 million MT.

Saudi oil shipments soared ahead of OPEC production cut

SEATTLE (polymers.in):  S&P Global Platts assessed Vincent crude at a premium of USD 2.60/bbl.
- December 2016 saw a dramatic increase in Brazilian crude imports to 1.05 million MT, more than doubling from 529,000 MT the month before. 

Saudi Oil Shipments Soared Ahead of OPEC Production Cut
- Saudi Arabia’s crude exports surged to a 13 1/2 year high in November.
- Saudi shipped 8.26 million bbl/day. 

Oil Gains as US Supplies Decline at US Hub, Rise Elsewhere
- Futures climbed 0.6%
- Supplies at Cushing, Oklahoma fell by 1.27 million bbl last week.
- WTI for February delivery rose 29 cents to USD 51.37/bbl.
- Brent for March settlement advanced 24 cents to USD 54.16/bbl. 

Oil, Snow and Saudi Billions: Secret Davos Gets Down to Business
- The second day of the World Economic Forum’s annual meeting ended with bankers flocking to a dinner held by Saudi Aramco.

Eurozone interests unchanged
- The ECB has kept its main interest rate unchanged at zero for another month.
- The 19-bloc Eurozone still faces sluggish growth and worries about the Italian banking crisis have intensified concerns about financial stability in the bloc. 

UK unemployment falls
- UK unemployment fell by 52,000 to 1.6 million in the three months to November.
- The jobless rate was steady at an 11 year low of 4.8%. 

Polymers Supply
PP unit likely to be shut by PT Polytama
- PT Polytama Propindo is in plans to take a PP unit off-stream for a maintenance turnaround and is expected to be take off-line in end of January 2017. 

Nova Chemicals starts up new world-scale LLDPE gas phase reactor in Canada
- NOVA Chemicals Corporation has announced the start up of its new world-scale LLDPE gas phase reactor at its Joffre, Alberta site.

Courtesy: www.polymers.io

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