Global Energy Industry News

World Bank boosts 2017 crude oil forecast to $55 per barrel

October 21, 2016
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The World Bank raised its crude oil price forecast, as it expects an output agreement among the OPEC to help trim excess supply. Read full story ›

Source:: CNBC energy […]

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LOI Beware! The dangers of releasing cargo against an LOI

October 19, 2016
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This web alert serves as a reminder of the dangers of releasing cargo against an LOI. The club would emphasise that members should have a full appreciation of the risks in order for these to be minimised.

The bill of lading is considered to be the ‘key to […]

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U.S. Shale Oil Output Seen Surging If Crude Reaches $60 a Barrel

October 12, 2016
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By hellenicshippingnews Crude at $60 a barrel would probably trigger a strong increase in North American oil output, the head of the International Energy Agency said, amid signs that OPEC members and Russia may be edging toward an agreement to limit production. Benchmark Brent crude hit a one […]

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Global crude oil stockpiles are finally falling, but there’s a hidden threat

October 12, 2016
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By hellenicshippingnews Developed nations’ total oil stockpiles fell in August for the first time since March, according to the International Energy Agency, but analysts say a continued buildup of refined fuels remains a barrier to reversing a two-year crude glut. The IEA reported Tuesday that overall oil […]

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