By November 9, 2018 0 Comments Read More →

OPEC output cuts likely next year

Iran said it has so far been able to sell as much oil as it needs to.

But Trump carved out exemptions for China, Japan, South Korea, India and Taiwan in Asia, as well as Greece, Italy and Turkey in Europe. The report was largely in line with analyst expectations that this week would see another substantial build in crude oil inventories of 2.050 million barrels. If all Iranian oil is withdrawn from the market, it would lead to a huge increase in oil prices which would be a shock to the global economy.

Crude has tumbled nearly 20% since touching a four-year high last month as bearish supply signals around the globe crowded out concerns about disrupted exports from Iran and Venezuela. Iranian exports will continue to decline gradually and emerging markets will restock their inventories, says Goldman Sachs’ commodity analyst Michael Hinds in a report published Wednesday.

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Posted in: Daily News

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The Louisiana Oil & Gas Association (known before 2006 as LIOGA) was organized in 1992 to represent the Independent and service sectors of the oil and gas industry in Louisiana; this representation includes exploration, production and oilfield services. Our primary goal is to provide our industry with a working environment that will enhance the industry. LOGA services its membership by creating incentives for Louisiana’s oil & gas industry, warding off tax increases, changing existing burdensome regulations, and educating the public and government of the importance of the oil and gas industry in the state of Louisiana.

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