Monday, December 11, 2017

2% Pop In Brent Prices -- Due To Major Brent Pipeline Llink --- Carries 40% Of Brent Output -- 80 Platforms Shutdown For Three Weeks -- BBC -- December 11, 2017

It's amazing that one pipeline carries 40% of all North Sea crude oil, and it services 80 platforms. 

Story here. Data points:
  • one of the UK's most important oil pipelines will be closed for about three weeks for repairs
  • discovered in Aberdeenshire
  • the Forties pipeline carries about 40% of North Sea crude oil
  • more than 80 platforms will have to be shut down
My hunch: OPEC and Russia can close the gap.

Saudi To Slash Oil Exports To Asia By 100,000 BOPD

Story at oilprice.
  • January, 2018: 100,000 bopd less than the previous month, December, 2017
  • for December, 2017, Saudis cut:
    • total crude oil exports by 120,000 bopd, from just above 7 million bopd in November
    • cut exports to all regions of the world, including a 10-percent reduction of oil exports to the US
    • Saudis also raising the official selling price (OSP) to the region for January

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