Have an article worth sharing? Send it to FUELSNews@mansfieldoil.com, and we’ll share it next week in our Weekly Summary segment. Given the historic important of Trump withdrawing from the Iran nuclear deal, today’s weekly snapshot will focus specifically on the implications of the deal.
‘Cyber Blindspot’ Threatens Energy Companies
“Over the last few years, the industry has been quickly adding electronic sensors and other monitoring capabilities to track data from 900,000 oil and gas wells, and 300,000 mi of pipelines. Complex computer algorithms at every level of the industry are constantly adjusting the flows of everything from oil and natural gas to electrical power, with automatic valves in place that can shut down flow at a moment’s notice in the case of an accident with no human action needed. And all of it is hackable, according to Walker and other experts.” Click Here to read more from World Oil.
$100 Oil Won’t Hurt World Economy Much
That’s the opinion of Bloomberg Economics, who found that the impact of $100 would be far less severe for the U.S. than it was in 2011. Because America is a bigger producer and has grown more energy efficient, a barrel of oil goes a long way. Because the U.S. economy will not take a huge hit, other countries are expected to weather higher prices better as well. Click Here to read more from Bloomberg.
IEA Reduces Global Demand Forecast
In their monthly Oil Market Report, the International Energy Agency reduced its expectations for 2018 oil demand growth by 100 Kbpd. Unlike OPEC’s monthly report, the IEA covers the Iran nuclear deal in depth, reporting that the deal has mostly been priced into the market already. However, the report notes an on-going tightening in supply markets, though at a reduced rate compared to last month. Click Here to read more from the IEA.
Leasing Companies Discuss Fuel Efficiency
For truck leasing companies, balancing fuel efficiency and performance are crucial, given the wide variety of fleets leasing the vehicles. Leasing companies are experts in looking at vehicle uses and suggesting the best ways to improve fuel efficiency while maintaining performance. Click Here to read expert tips from top leasing companies such as Ryder and Penske.