Mid-Week Review – October 30, 2019

By Published On: October 30, 2019Categories: Crude, Daily Market News & Insights, Diesel, Gasoline

Oil markets could face oversupply in 2020, the IEA says

In its latest monthly report, the Paris-based agency cut its oil demand growth figure by 100,000 barrels a day for both 2019 and 2020. Oil demand is expected grow 1.2 million barrels a day in 2020, IEA said in the report.

Saudi Arabia is Ready to Balance Oil Markets at Any Cost

OPEC’s top producer Saudi Arabia has signaled that it is prepared to cut its oil production even deeper than it is cutting now, Nigerian oil minister Timipre Sylva told Bloomberg TV on Tuesday, citing a recent conversation he had with Saudi Energy Minister Prince Abdulaziz bin Salman.

Oil and Corn clash over secretive U.S. biofuel waivers in hearing

The U.S. oil and corn industries continued a long-running public battle over America’s biofuels policy on Tuesday during a Congressional hearing about the Trump administration’s use of “secret waivers” for refineries.

New U.S. Mission After al-Baghdadi Death Pivots to Protecting Syria’s Oil Fields

Pivoting from the dramatic killing of the Islamic State’s leader, the Pentagon is increasing U.S. efforts to protect Syria’s oil fields from the extremist group as well as from Syria itself and the country’s Russian allies. It’s a new high-stakes mission even as American troops are withdrawn from other parts of the country.

This article is part of Crude

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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