Global LPG Market to Look to US in 2019

Hellenic Shipping News: Renewed demand growth in China and reduced exports from the Middle East and Russia will shape the outlook for the international LPG market in 2020, according to according to ESAI Energy’s newly published Global NGL Two Year Outlook. The implications are bullish for U.S. exporters, who can take advantage of opportunities to place more of North America’s excess LPG in key export markets.

Russian Crude Oil Exports Seen Rising Despite OPEC+ Deal

Bloomberg:Russia says its on track this month to fullyimplement the production cuts promised in the OPEC+ accord, yetits crude exports will be almost as high as before the deal,according to consultant ESAI Energy LLC. The irony of thesituation “will not be lost on the Saudis,” ESAI’s principalanalyst Andrew Reed said in a note. As the Middle Easternkingdom keeps a tight lid on its own shipments, Russia will sendmillions of extra barrels overseas in April as its domesticrefineries process less fuel, partly due to prolongedmaintenance at a major refinery owned by Rosneft PJSC, he said.

Oil Futures Up on Supply Shortfall

Progressive Farmer: Under OPEC+ accord, Russia agreed to shoulder more than 50% of the total non-OPEC cuts, which stands at 400,000 bpd. However, it has since struggled to reach the agreed quota, due to reported opposition from domestic oil industry. According to ESAI Energy, Russian crude exports are expected to reach a multi-year high of 5.7 million bpd in April, driven by greater flow of Russian crude into Asia in a bid to expand market share. Higher export rate comes as Russian oil producing companies finally achieved full compliance with their quota of 228,000 bpd cut in March.

Russian Crude Exports to Soar in April

Oilfield Technology: Russian crude exports will reach a multiyear high of 5.7 million bpd in April, 400 000 bpd higher than average exports in the previous 5 months, according to a Market Alert released by ESAI Energy. Among other things, unusually high exports have implications for market share in Asia. As the past few years’ fluctuations in Russian exports have shown, unusually high exports are accompanied by greater flows of Russian crude into Asia.

Russian Crude Exports Soar in April

World Pipelines: Russian crude exports will reach a multiyear high of 5.7 million bpd in April, 400 000 bpd higher than average exports in the previous five months, according to a Market Alert released by ESAI Energy. Among other things, unusually high exports have implications for market share in Asia. As the past few years’ fluctuations in Russian exports have shown, unusually high exports are accompanied by greater flows of Russian crude into Asia.

Russian Crude Exports Soar in April

Hydrocarbon Engineering: Russian crude exports will reach a multiyear high of 5.7 million bpd in April, 400 000 bpd higher than average exports in the previous 5 months, according to a market alert released by ESAI Energy. Among other things, unusually high exports have implications for market share in Asia. As the past few years’ fluctuations in Russian exports have shown, unusually high exports are accompanied by greater flows of Russian crude into Asia.

LPG Surplus Rears its Head

Hellenic Shipping News: The end-winter transition from draws to builds in U.S. propane stocks is arriving early, according to ESAI Energy’s newly published Global NGL One Year Outlook. As ESAI Energy describes, the global LPG market will remain in surplus in 2019, resulting in stock builds, wide propane and butane discounts to naphtha. The implications range from the negative impact on petchem demand for naphtha in Asia and Europe to the likelihood of propane and butane stranded in the Gulf Coast pricing into the U.S. petchem feed slate.

Surplus global LPG stocks to continue through 2019

The end-winter transition from draws to builds in US propane stocks is arriving early, according to ESAI Energy’s newly published Global NGL One Year Outlook. As it describes, the global LPG market will remain in surplus in 2019, resulting in stock builds and wide propane and butane discounts to naphtha. The implications range from the negative impact on petchem demand for naphtha in Asia and Europe to the likelihood of propane and butane stranded in the Gulf Coast pricing into the US petchem feed slate.