Crude Prices Fall Back on OPEC Freeze Comments

by Tim Bonett, KPI Bridge Oil
Tuesday September 27, 2016

If you listened closely today you may have heard the proverbial bubble bursting on OPEC as both Iran and Saudi Arabia threw cold water on the idea of a cut in crude oil production.

Iran went as far as to say they will increase oil production while Saudi Arabia took a step back to state this weeks’ meeting is strictly "consultative".

Oil benchmarks receded nearly 3% and may be headed further south in the short term.

As a result, bunkers prices were softening in the primary ports.

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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