Mid-Week Review – November 27, 2019
Oil Drillers Continue to Remove Rigs from Permian Basin
In its weekly release, Baker Hughes Company BKR reported a drop in U.S. rig count. Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. Click here to read more from Yahoo Finance.
U.S. and France vie to bolster Gulf security after Saudi oil attack
The United States and France are boosting Saudi Arabia’s radar systems following crippling drone and cruise missile attacks on Saudi oil infrastructure in September, which Washington blames on Iran. Click here to read more from Reuters.
The Proliferation of Drones Is a Threat to the Global Oil Industry
Unmanned aerial systems (UASs) or drones, both armed and unarmed, have altered how states and insurgents conduct warfare in the Middle East. The widespread proliferation of these weapons, combined with the range of capabilities they confer and their potential to alter the logic of escalation between states, may cause significant inter-state conflict to occur. Click here to read more from Oilprice.com.
Syria war: Who benefits from its oil production?
US Defense Secretary Mark Esper has said US troops are there to guard against not only Islamic State fighters but also Russian and Syrian government forces. For their part, Russian forces are helping Syrians try to regain control of oil production and have their eyes on these facilities. The two countries signed an energy co-operation agreement in 2018 giving Moscow exclusive rights to rebuild the Syrian oil and gas sector. Click here to read more from BBC News.
This article is part of Crude
Tagged: crude, Daily Market News & Insights, diesel, gasoline
MARKET CONDITION REPORT - DISCLAIMER
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.
