Crude Soft, OPEC Output at Record High

by Tim Bonett, KPI Bridge Oil
Thursday November 10, 2016

We are now a few weeks away from the scheduled OPEC meeting yet data released today showed that output by members rose to a new record in October.

Not exactly a clear sign that a production freeze is imminent.

Meanwhile, as the world digests the new President-elect of the US and his expected policy changes, some anticipate the energy sector to see lighter regulations allowing for more drilling and production.

If so, oil prices may suffer if the supply gut increases while OPEC will feel more pressure to maintain market share.

Bunker prices were softer in the primary ports.

WTI December $44.66/BBL DOWN -$0.61/BBL
Brent January $45.84/BBL DOWN -$0.52/BBL

About KPI Bridge Oil

KPI Bridge Oil is one of the world's leading international bunker broking and trading firms. With a network of offices that covers every major time zone, we have an in-depth knowledge of ports and bunker markets around the world. Our access to real-time market information and long-established credit lines with suppliers means we use our buying power in the right place and at the right time. All this ensures our customers enjoy competitive prices - and on favourable terms.

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