Linkups: Oil News Roundup 18th January, The global oil surplus will persist at least until late 2016 as demand growth slows and OPEC shows “renewed determination” to maximize output, according to the International Energy Agency.
The price of OPEC basket of thirteen crudes stood at 24.74 dollars a barrel on Friday, compared with $25.00 the previous day, according to OPEC Secretariat calculations.
Refined products exports from Saudi Arabia rose in November, to 1.18 million barrels a day from 1.09 million, according to Joint Organisations Data Initiative (JODI).
In other News:
Exploration group finds big offshore gas field off Israel
As the crash in commodities prices spreads economic woe across the developing world, Europe could face a wave of migration that will eclipse today’s refugee crisis, says Klaus Schwab, executive chairman of the World Economic Forum. “Look how many countries in Africa, for example, depend on the income from oil exports,” Schwab said in an interview ahead of the WEF’s 46th annual meeting, in the Swiss resort of Davos. “Now imagine 1 billion inhabitants, imagine they all move north.”
North Dakota Crude Oil That’s Worth Less Than Nothing
Big banks brace for oil loans to implode
Is it time to bail out the U.S. oil industry?
Oil price steadies after falling below $28 a barrel
Uganda: Oil Sector – Bad Prices, Job Cuts and Little Activity
Gambia: Fuel Prices Remain High As Oil Prices in the World Tumble
More worries for Nigeria’s troubled-economy as U.S. lifts sanctions on Iran
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