By hellenicshippingnews.. Global oil markets are gradually rebalancing, but progress has been slower and more uneven than the Organization of the Petroleum Exporting Countries and bullish hedge funds expected. OPEC as well as most commentators, crude traders and hedge funds have assumed the rebalancing of the oil market will be accompanied by a shift from […]

By hellenicshippingnews.. Russian oil output has continued to decline in March, reaching the level of 11.068 million barrels per day (bpd) in the first 13 days of the month, two energy industry sources told Reuters. This was down from 11.083 million bpd on March 1-5 and 11.11 million bpd in February and January. According to […]

Demand for oil is expected to drop in 2017, the International Energy Agency said in a report on Wednesday, raising further problems for producers as they try to ramp up prices. Read full story › Source:: CNBC energy       

By hellenicshippingnews.. Crude oil futures are still reeling from last week's massive crude oil build and another jump in U.S. rig counts. It was a double-eight as oil rigs increased by eight and the eighth week in a row that the rig count has risen. What is interesting though is that there were no rigs […]