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Top related persons:
Brent - 1 Kpler - 1 Ajay Parmar - 1 John Paisie - 1 Rahul Paswan - 1 Brijesh Patel - 1 Barbara Lewis - 1
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June's Central China Saudi Arabia Russia Bengaluru
Top related orgs:
U.S . Federal Reserve - 1 ECB - 1 HSBC - 1 Stratas Advisors - 1 Thomson - 1

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2 mentions found


☆ Oil to drift lower as slower growth offsets OPEC+ cuts: Reuters poll
  + stars: | 2023-07-31 | by ( Rahul Paswan | ) www.reuters.com   time to read: +2 min
A survey of 37 economists and analysts forecast Brent crude would average $81.95 a barrel in 2023, down from June's $83.03 consensus and current levels of around $85. Sluggish growth in top crude importer China has also weighed on oil prices so far in 2023. Global oil demand was expected to increase by about 1-2.1 million barrels per day (bpd) in 2023, led by China. "China's economic outlook may continue to disappoint but upside in oil demand is still possible with jet demand recovery from international flights later this year," said Ajay Parmar, associate director of global oil markets research at HSBC. Some of the analysts expected supplies to tighten and support oil prices in the latter part of this year after Saudi Arabia and Russia deepened output cuts in July.
Persons: Brent, Kpler, Ajay Parmar, John Paisie, Rahul Paswan, Brijesh Patel, Barbara Lewis Organizations: U.S . Federal Reserve, ECB, HSBC, Stratas Advisors, Thomson Locations: June's, Central, China, Saudi Arabia, Russia, Bengaluru
☆ U.S. oil refiners to keep running at breakneck speeds in fourth quarter
  + stars: | 2022-11-04 | by ( Erwin Seba | ) www.reuters.com   time to read: +2 min
REUTERS/Bing GuanHOUSTON, Nov 4 (Reuters) - U.S. oil refiners this quarter will run their plants at breakneck rates, near or above 90% of capacity, as tight fuel supplies spur high profits and operating rates, according to company forecasts and analysts surveyed by Reuters. The refining industry has minted huge profits this year on buoyant demand for gasoline, diesel and jet fuel. PBF restarted units idled during the pandemic at its Paulsboro, N.J., plant to produce more diesel and jet fuel, with the company's refineries running at a record-high 980,000 barrels per day last quarter, Young said. Overall, refiners are forecasting production will remain close to third quarter levels, which averaged 92.75%, said Matthew Blair, refining analyst at researcher Tudor Pickering & Holt. Diesel stocks in particular “are well below typical levels and are running at some 20% below the seasonal average,” Paisie said.
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