Mid-Week Review – October 30, 2019

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.  Click here to read more from CNBC.

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.  Click here to read more from Oilprice.com.

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.  Click here to read more from Reuters.

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 It’s a new high-stakes mission even as American troops are withdrawn from other parts of the country.  Click here to read more from Time.

 

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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Give Us a Call Today

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Us an Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Mansfield Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote Today

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote