Weekly Snapshot

Have an article worth sharing? Send it to FUELSNews@mansfieldoil.com, and we’ll share it next week in our Weekly Summary segment. 

OPEC to Discuss Changing Measure of Success for Supply Cuts

OPEC and non-OPEC delegates met in Vienna on Monday to further discuss the current measure of production cuts. One option is to exclude years of high stockpiles from the five-year average for oil inventories in developed economies. Another option presented is to use a seven-year inventory average, which would potentially extend the production cuts. Click here to read the full story.

U.S. Plans Heavy China Tariff Hit as Soon as This Week

The Trump administration plans to impose tariffs on Chinese products to punish Beijing for what the U.S. perceives as intellectual property theft. The tariffs could be worth as much as $60 billion and could be imposed as early as this week. Read more on this story here.

Some Oil Refineries Are Getting a License to Print Money

The standards for marine fuel are changing in 2020. Vessels will be required to purchase fuel with less sulfur content, or be fitted with equipment to reduce emissions. Demand and prices for compliant marine fuel are rising, and sophisticated plants can already comply with the upcoming standards. One expert said “They’ll print money” in reference to the refiners who can already produce cleaner fuels. Click here to read more on this story.

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.

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