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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Iraqi oil to remove "Saudi" and "Kuwaiti" from the US market through 2017

    Rocky
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    • Post n°1

    Iraqi oil to remove "Saudi" and "Kuwaiti" from the US market through 2017 Empty Iraqi oil to remove "Saudi" and "Kuwaiti" from the US market through 2017

    Post by Rocky Fri 05 Jan 2018, 2:15 am

    Iraqi oil to remove "Saudi" and "Kuwaiti" from the US market through 2017 %D9%84%D9%87%D8%B0%D9%87-%D8%A7%D9%84%D8%A7%D8%B3%D8%A8%D8%A7%D8%A8-..-%D8%AA%D8%B1%D9%81%D8%B6-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC-%D8%AE%D9%81%D8%B6-%D8%A7%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%B1%D8%BA%D9%85-%D8%A7%D9%84%D8%AA%D8%AD%D8%B0%D9%8A%D8%B1%D8%A7%D8%AA-1-660x330
    Iraqi oil to remove "Saudi" and "Kuwaiti" from the US market through 2017


    The oil market in the US has undergone drastic changes in 2017, as the map of oil exports to a number of OPEC countries has changed to the US market at the expense of other cartel member countries. The Kuwaiti and Saudi oil exports recorded a significant drop to the US market in comparison to the exports achieved by Iraqi, Libyan and Nigerian exports during the last year. .
    The data released by the US Energy Information Administration revealed a decline in the volume of Kuwaiti oil exports to America by about 25% to reach the volume of US imports of Kuwaiti oil until the end of October, 46.7 million barrels compared to 61.7 million barrels for the same period in 2016, the lowest levels since more Of 10 years.
    Kuwait's decline in exports coincided with KPC's decision to shut down the Houston office in the United States after a long service of more than 35 years. Kuwait established the office in 1994 in Houston, the home of companies and rich oil fields on the Gulf coast.
    Saudi Arabia's share of crude imports to the US market fell to around 300 million barrels in the first 10 months of 2017 compared to 340 million barrels in the same period, a decline of 12%.
    With the decline of Kuwaiti and Saudi exports, their share fell to about 8% of the total US oil imports.
    The drop in Kuwaiti and Saudi exports to America comes as the US president announced in his first energy plan on his arrival to the White House that he would end US addiction to OPEC oil, but that did not apply to Iraqi exports, which reached record highs in 2017, Barrels compared to 122.8 million barrels in the same period of 2016.
    Despite the turmoil in Libya's major oilfields, it recorded an increase in oil exports to the United States during the first 10 months of 2017 to exceed 17 million barrels compared to 4.2 million barrels for the whole of 2016. Exports to the United States accelerated in September and October .
    In addition to Libya, Nigeria's exports jumped by 45% since the beginning of 2017. Its exports to the US reached 90.4 million barrels compared to 62.4 million barrels. Nigeria was exempt from the commitment to cut production reached in November 2016. However, it joined the extension of the agreement reached In November.
    War of quotas
    The change in the map of OPEC oil exports to the US market coincides with the extension of production cuts until the end of 2018. This has led to a change in the battle of market shares around the world, especially Asia, specifically China, India and Japan, the largest importers of oil around the world. And the US and South American countries have begun to offer discounts and price war to win a place in Asia that has a big appetite for oil.
    According to shipping data on Thomson Reuters Eco, Asian refineries have asked for more oil from the Caribbean and Gulf of Mexico in a move that would lead to OPEC and Russia losing market share.
    Opec producers, especially Saudi Arabia and Kuwait, face fierce competition in the Asian market as US crude oil production surges to record levels of more than 9.7 million bpd and the United States recorded the biggest export increase to Asia due to higher oil production.
    China
    China maintained its position as China's top crude oil supplier for the eighth month in a row in October, Saudi Arabia came second with a narrow margin, with a 1.086 million barrel per day increase in October, up 16 percent year-on-year.
    In the first ten months of the year, crude oil imports from Russia rose 15.9% year-on-year to about 49.65 million tons, or 1.19 million barrels per day.
    From January to October, Angola ranked second among China's largest suppliers of crude, overtaking Saudi Arabia with an 18 percent increase in supplies during the year.
    India
    The Indian market is one of the largest markets to compete for a share, with imports from Latin America and Central Asia, including Russia, increasing, offsetting lower purchases from the Middle East.
    Iraq is India's largest oil supplier and is followed by Saudi Arabia. Venezuela is India's third-largest oil supplier, followed by Iran in fourth place and Nigeria to fifth.
    India relies mainly on imports for a large part of the crude oil it consumes. Between 2016 and 2017, 82.1% of India's total crude oil consumption was imported from abroad.
    Japan
    Japan is the fourth largest oil supplier to Japan with an average of 240,000 barrels per day, with Saudi Arabia still the largest oil supplier to Japan at 1.39 million barrels per day, followed by the UAE with 828,000 barrels and Qatar with third place in Japan with an average of 263 Thousand barrels a day.
    Japan is the third largest oil consumer in the world after the United States and China, along with importing almost all fossil fuels.
    The North Sea is a strong competitor
    With Opec's extension of the oil-output reduction agreement until the end of 2018, concern is emerging of the dominance of European crude, especially in the North Sea, where Asian demand for European oil has risen, which offers higher price premiums compared to the Middle East and the lower cost of importing North Sea oil. Constitutes additional pressure for Middle Eastern oil.
    The United States itself is a strong contender in the world oil markets following successive decisions that lifted the oil embargo for years, and the US administration led by Donald Trump opened the door to selling oil and gas exploration rights in new Atlantic and Arctic Arctic areas, To explore oil and gas in the eastern Gulf of Mexico and potentially also sell rights to new sites in the waters of the Pacific Ocean.
    Commitment pressure
    Many Opec member countries are under pressure from their budget because of the commitment to cut production as a result of slower GDP growth over the past year despite improved oil prices. According to the British research unit Capital Economics, the Kuwaiti economy slowed significantly in 2017 under The impact of reducing oil production as a result of commitment to Opec's recently reduced production agreement until 2018, adding that the oil sector is the main driver of growth and the main reason for the slowdown in the economy in 2017.



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    Rocky
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    • Post n°2

    Iraqi oil to remove "Saudi" and "Kuwaiti" from the US market through 2017 Empty Iraqi oil ousts "Kuwaiti" and "Saudi" from the US market

    Post by Rocky Fri 05 Jan 2018, 2:40 am

    [rtl]Iraqi oil ousts "Kuwaiti" and "Saudi" from the US market[size=14] January 05, 2018 - 3:55 | Number of readings   [/rtl]
    [/size]
    Iraqi oil to remove "Saudi" and "Kuwaiti" from the US market through 2017 25159 
    [rtl]Sumer News: The US oil market underwent drastic changes in 2017, as the map of oil exports to a number of OPEC countries changed to the US market at the expense of other member countries of the cartel. The Kuwaiti and Saudi oil exports recorded a significant decline to the US market in return for exports by Iraqi, Libyan and Nigerian exports During the past year .[/rtl]
    [rtl]The data released by the US Energy Information Administration revealed a decline in the volume of Kuwaiti oil exports to America by about 25% to reach the volume of US imports of Kuwaiti oil until the end of October, 46.7 million barrels compared to 61.7 million barrels for the same period in 2016, the lowest levels since more Of 10 years .[/rtl]
    [rtl]Kuwait's decline in exports coincided with KPC's decision to shut down the Houston office in the United States after a long service of more than 35 years. Kuwait established the office in 1994 in Houston, the home of companies and rich oil fields on the Gulf coast .[/rtl]
    [rtl]Saudi Arabia's share of crude imports to the US market fell to around 300 million barrels in the first 10 months of 2017 compared to 340 million barrels in the same period, a decline of 12 %.[/rtl]
    [rtl]With the decline of Kuwaiti and Saudi exports, their share fell to about 8% of the total US oil imports .[/rtl]
    [rtl]The drop in Kuwaiti and Saudi exports to America comes as the US president announced in his first energy plan as he came to the White House that he would end US addiction to Opec oil, but that did not apply to Iraqi exports, which reached record highs in 2017, Barrels compared to 122.8 million barrels in the same period of 2016 .[/rtl]
    [rtl]Despite the turmoil in Libya's major oilfields, it recorded an increase in oil exports to the United States during the first 10 months of 2017 to exceed 17 million barrels compared to 4.2 million barrels for the whole of 2016. Exports to the United States accelerated in September and October .[/rtl]
    [rtl]In addition to Libya, Nigeria's exports jumped by 45% since the beginning of 2017. Its exports to America reached 90.4 million barrels compared with 62.4 million barrels. Nigeria was exempt from the commitment to cut production reached in November 2016. But it joined the extension of the agreement reached In November .[/rtl]
    [rtl]War of quotas[/rtl]
    [rtl]The change in the map of OPEC oil exports to the US market coincides with the extension of production cuts until the end of 2018. This led to a change in the battle of market shares around the world, especially Asia, specifically China, India and Japan, the largest importers of oil around the world. And the US and South American countries have begun to offer discounts and price war to win a place in Asia that has a big appetite for oil .[/rtl]
    [rtl]According to shipping data on Thomson Reuters Eco, Asian refineries have asked for more oil from the Caribbean and Gulf of Mexico in a move that would lead to OPEC and Russia losing market share .[/rtl]
    [rtl]Opec producers, especially Saudi Arabia and Kuwait, face fierce competition in the Asian market as US crude oil production surges to record levels of more than 9.7 million bpd and the United States recorded the biggest export increase to Asia due to higher oil production .[/rtl]
    [rtl]China[/rtl]
    [rtl]China maintained its position as China's top crude oil supplier for the eighth month in a row in October, Saudi Arabia came second with a narrow margin, with a 1.086 million barrel per day increase in October, up 16 percent year-on-year .[/rtl]
    [rtl]In the first ten months of the year, crude oil imports from Russia rose 15.9% year-on-year to about 49.65 million tons, or 1.19 million barrels per day .[/rtl]
    [rtl]From January to October, Angola ranked second among China's largest suppliers of crude, overtaking Saudi Arabia with an 18 percent increase in supplies during the year .[/rtl]
    [rtl]India[/rtl]
    [rtl]The Indian market is one of the largest markets to compete for a share, with imports from Latin America and Central Asia, including Russia, increasing, offsetting lower purchases from the Middle East .[/rtl]
    [rtl]Iraq is India's largest oil supplier and is followed by Saudi Arabia. Venezuela is India's third-largest oil supplier, followed by Iran in fourth place and Nigeria to fifth .[/rtl]
    [rtl]India relies mainly on imports for a large part of the crude oil it consumes. Between 2016 and 2017, 82.1% of India's total crude oil consumption was imported from abroad .[/rtl]
    [rtl]Japan[/rtl]
    [rtl]Japan is the fourth largest oil supplier to Japan with an average of 240,000 barrels per day, with Saudi Arabia still the largest oil supplier to Japan at 1.39 million bpd followed by the UAE with 828,000 barrels and Qatar with third place with Japan with an average of 263 Thousand barrels a day .[/rtl]
    [rtl]Japan is the third largest oil consumer in the world after the United States and China, along with importing almost all fossil fuels .[/rtl]
    [rtl]The North Sea is a strong competitor[/rtl]
    [rtl]With Opec's extension of the oil-output reduction agreement until the end of 2018, concern is emerging of the dominance of European crude, especially in the North Sea, where Asian demand for European oil has risen, which offers higher price premiums compared to the Middle East and the lower cost of importing North Sea oil. Constitutes additional pressure for Middle Eastern oil .[/rtl]
    [rtl]The United States itself is a strong contender in the world oil markets following successive decisions that lifted the oil embargo for years, and the US administration led by Donald Trump opened the door to selling oil and gas exploration rights in new Atlantic and Arctic Arctic areas, To explore oil and gas in the eastern Gulf of Mexico and potentially also sell rights to new sites in the waters of the Pacific Ocean .[/rtl]
    [rtl]Commitment pressure[/rtl]
    [rtl]Many Opec member countries are under pressure from their budget because of the commitment to cut production as a result of slower GDP growth over the past year despite improved oil prices. According to the British research unit Capital Economics, the Kuwaiti economy slowed significantly in 2017 under The impact of reducing oil production as a result of commitment to Opec's recently reduced production agreement until 2018, adding that the oil sector is the main driver of growth and the main reason for the slowdown in the economy in 2017 .[/rtl]






    [rtl]http://sumer.news/ar/news/24846/%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%8A%D8%B2%D9%8A%D8%AD-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%D9%8A-%D9%88%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%85%D9%86-%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D9%8A%D8%A9
    [/rtl]
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