... Russian oil and gas sales, he points out, have always emphasized long term, 20 year, «take or pay» pipeline contracts, with the cost of gas based on a basket of crude oil and
oil product pricing.
Not exact matches
It didn't matter that Canada did not actually export many of these
products, including
oil, to China; demand growth there affected
prices worldwide.
But if it's longer than that — which does look possible — we're going to see a significant rise in the
price of crude
oil, and in the
price of refined
products, especially in Western Canada.»
«The idea that gasoline demand is actually rising suggests that perhaps the lower
prices of crude are actually prompting a greater usage of this
product (gasoline),» said Vyanne Lai,
oil analyst at National Australia Bank.
Companies that refine and sell petroleum
products pay market
price for
oil, so their costs are rising, but a shaky economy makes it harder for them to pass costs on to customers.
So policy makers focus on «core inflation,» which ignores changes in
prices for fruit, vegetables, gasoline, fuel
oil, natural gas, mortgage interest, intercity transportation, tobacco
products and indirect taxes.
For example, refining margins tend to expand when
oil prices decline as the savings refiners reap from using cheaper crude to make gasoline and other
products aren't immediately passed on to consumers at the pump.
For TransCanada, the financial imperative to build Keystone may have fallen off recently amid a sharp drop in
oil prices that could make extracting and transporting the
product much less lucrative.
The flat growth in the core consumer
price index (CPI), which includes
oil products but excludes volatile fresh food
prices, matched a median market forecast and followed a 0.1 % rise in December, data from the Internal Affairs Ministry showed on Friday.
«Cumulatively, between 2015 and 2017, the world has added around 5 mb / d of demand for
oil products on the back of healthy economic conditions globally and a relatively steady
product price environment,» OPEC said.
When the Bank of Canada cut interest rates in 2015 to offset the collapse of
oil prices, it was worried about more than a blow to gross domestic
product; it was also thinking about what mass firings in the
oil patch could mean for the financial system.
Morgan Stanley also noted that
oil and gas exports account for nearly 16 percent of Malaysia's gross domestic
product (GDP), and the sector has been hard hit by crude
prices falling below $ 50 a barrel again.
Those closures, affecting a major U.S.
oil refining hotspot, are pushing up the
prices of energy
products like gasoline and heating
oil as investors anticipate a drop in supply.
The future viability of
oil sands projects depends not just on your view of world
oil prices — it depends just as much on how these factors evolve, in particular discounts to Canadian heavy
products and the Canadian dollar.
The fall in global commodity
prices has also hurt the company: Cheaper
oil, for one, means that offshore drillers have less need for General Cable's heavy - duty
products.
COPENHAGEN, March 22 - Leading diabetes drugmaker Novo Nordisk has named former
oil boss Helge Lund as its new chairman as the company contends with increasing
price pressure and seeks acquisitions to broaden its blood
products line - up.
While we haven't yet got to the point where Canadian
oil production is literally stranded — shut down for lack of a place to store, let alone ship it — our
product is selling for far less than the North American and world benchmark
prices that continue to make filling up your car an expensive proposition.
He said the gas
price would be based on a formula linked to that of
oil and
oil products.
Of Tokyo's 33 subsectors, 20 were in the red, with
oil and coal
products leading the decliners after an overnight slide by crude
prices to two - week lows.
These risks include, in no particular order, the following: the trends toward more high - definition, on - demand and anytime, anywhere video will not continue to develop at its current pace or will expire; the possibility that our
products will not generate sales that are commensurate with our expectations or that our cost of revenue or operating expenses may exceed our expectations; the mix of
products and services sold in various geographies and the effect it has on gross margins; delays or decreases in capital spending in the cable, satellite, telco, broadcast and media industries; customer concentration and consolidation; the impact of general economic conditions on our sales and operations; our ability to develop new and enhanced
products in a timely manner and market acceptance of our new or existing
products; losses of one or more key customers; risks associated with our international operations; exchange rate fluctuations of the currencies in which we conduct business; risks associated with our CableOS ™ and VOS ™
product solutions; dependence on market acceptance of various types of broadband services, on the adoption of new broadband technologies and on broadband industry trends; inventory management; the lack of timely availability of parts or raw materials necessary to produce our
products; the impact of increases in the
prices of raw materials and
oil; the effect of competition, on both revenue and gross margins; difficulties associated with rapid technological changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; and the effect on our business of natural disasters.
Recent lower
oil prices have helped Morocco cut those costs and shrink its budget deficit from nearly 5 percent of gross domestic
product in 2014 to 4.3 percent this year.
The difference between Brent and a barrel of Western Canadian Select, the benchmark
price for
oil sands
product, was even more significant, a fact that had caused considerable hand wringing in downtown Calgary as well as on Parliament Hill.
As I wrote in my blog over a year ago, («
Oil Price Spread Costing Canadian producers big bucks,» November 10, 2011), oil sands producers have been continually getting short - changed for their oil by refineries in Cushing, Oklahoma, where most of the product from the oil sands flo
Oil Price Spread Costing Canadian producers big bucks,» November 10, 2011),
oil sands producers have been continually getting short - changed for their oil by refineries in Cushing, Oklahoma, where most of the product from the oil sands flo
oil sands producers have been continually getting short - changed for their
oil by refineries in Cushing, Oklahoma, where most of the product from the oil sands flo
oil by refineries in Cushing, Oklahoma, where most of the
product from the
oil sands flo
oil sands flows.
Risks associated with investing in Industrials include the possibility of a worsening in the global economy, acquisition integration risk, operational issues, failure to introduce to market new and innovative
products, further weakening in the
oil market, potential
price wars due to any excesses industry capacity, and a sustained rise in the dollar relative to other currencies.
However, clear
price trends in respect of crude
oil, natural gas,
products like gasoline & diesel augur well for both upstream & downstream companies.
Following a January rally, the global commodities complex underwent declines in February before partially recovering in March; for the first quarter as a whole, the benchmark Thomson Reuters CoreCommodity CRB Index (CRB) gained 0.8 % on a
price - only basis.1 Among the 19 component commodities tracked by the CRB, advancers had a slight edge over decliners, buoyed by growth in global economies and weakness in the trade - weighted US dollar, which retreated 2.1 %, according to the Federal Reserve's (Fed's) US Dollar Index.1 Aside from robust gains for a host of agricultural
products,
oil and gold were also among the commodity winners.
The example of crude
oil alone shows how the U.S. makes money by buying a
product from its NAFTA partners, processing it, and selling the finished
product at a higher
price.
However, since Canada's population is concentrated in markets that already fetch their
oil at higher world
prices, even if western Canadian producers were to access better
prices for their
products, that would be unlikely to have a meaningful effect on gasoline
prices or other segments of our economy.
The conditions precipitating this change — lower volumes and value of crude
oil from Mexico, and increasing demand from Mexico for refined
products from the U.S. as
prices are rising — may not be the new normal.
For western heavy
oil and bitumen producers, tidewater access may have an important stabilizing effect as it would greatly expand the market for the
product, which has previously been subject to large
price swings motivated by refinery or pipeline outages in the midwest.
Currently, the Gulf region imports over 5.5 million barrels per day of crude
oil and related
products at world
prices.
«Based on the Saudi current - account balance, Aramco had revenues of $ 160 billion last year from just
oil and refined
products exports when the average
price of
oil was $ 43 a barrel,» Fareed Mohamedi from the Rapidan Group said.
Gross domestic
product grew by 4.9 per cent in Alberta, with the
oil - producing province recovering from two straight years of falling output following the collapse of
oil prices.
Wittner pointed to «big
product draws» due to the fallout from recent US Gulf Coast hurricanes helped push
oil prices toward that high this week, along with potential geopolitical risk from Monday's Kurdish independence referendum in Iraq.
Until a balance is restored between supply and demand, though, Saudi Arabia is willing to endure the current low
price of
oil, even as its own budget, heavily reliant on energy revenues, faces a deficit of $ 98 billion, or 15 percent of gross domestic
product, for fiscal 2016.
This isn't a matter of collusion or market power, it's simply a matter of a broad market for refined
products not affected in the same way by pipeline shortages and transportation bottlenecks which affect crude
oil prices in one region but not another.
What: Just when investors thought it was safe to go back into the waters of the
oil market, building inventories of refined
product and crude sent
oil prices plunging today and taking exploration and production stocks with them.
This could be positive for a commodity
price (such as in
Oil), as the increased economic activity will likely lead to greater sales of energy
products.
«If
oil prices go to $ 110 a barrel (bl) or $ 115 / bl, gross domestic
product (GDP) growth in Russia might be even stronger next year, at over 2 percent [but] we estimate growth is likely to remain positive only with
oil prices above $ 92 - 93 / bl.
Canadian
oil producers were looking to Asian markets to secure high international
prices and new consumers for their
product.
A case in point: The continued
price pressure on
oil and gas
products doesn't mean that Canadian exports have declined in this segment — they haven't.
It's a cute theory, but the real reason global
oil prices are falling doesn't have much to do with a bump in the amount of refined
products that are being exported from the U.S..
In general, producer
price pressures eased significantly in the June quarter, largely because of the fall in
prices of
oil and related
products, and the generalised downward pressure on the
prices of imported goods resulting from the exchange rate appreciation (Table 16).
Half of the country's 2014 exports were raw
products like
oil, iron ore, soybean and corn, so the economy has been vulnerable to commodity
price changes on those
products.
Although current U.S. law prohibits raw crude from being sold abroad, the sale of 3.5 million barrels a day of refined
products such as gasoline and diesel is, ostensibly, helping to keep a cap on the
price of
oil elsewhere in the world.
The ratings firm said it expects Saudi Arabia's deficit to increase to 16 % of gross domestic
product this year from 1.5 % in 2014, largely due to the sharp decline in
oil prices.
Partially offsetting the rise in
prices were declines in
prices for pharmaceutical and medicinal
product manufacturing -LRB--1.6 %); commercial fishing -LRB--10.4 %) and
oil and fat manufacturing -LRB--5.5 %).
The warnings come not from the heavily traded futures market, but from less transparent trading activity in crude
oil and
products markets, where key U.S., European and Russian crude
prices have fallen of late, suggesting less robust demand.
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Word came from India that the increase in
oil prices and in all the
products made from
oil threatened to bring an already shaky economy to its knees.