January, 2018
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Meanwhile, a discrepancy in Venezuelan output figures seems to be a sign of desperation from its socialist government.
OPEC Sees Plummeting Venezuelan Output Offsetting Rising U.S. Production
The barges are intended to support IFO and MGO delivery operations at the ports of Vitória, Praia Mole, and Tubarão.
Three New Bunker Barges Added to Petrobras Fleet
But IEA's Birol is confident that rising output will help push down prices.
High Oil Prices Spell Trouble for European Refineries as Analysts Ponder if OPEC Cutback Deal is Working Too Well
However, one expert warns that neither the OPEC cuts nor demand are strong enough to sustain the high crude prices.
Oil Prices Fall Back Tuesday but Demand Still Seen Supporting $70/bbl
The new vessels comprise six IFO barges and one MGO barge.
Petrobras Adds 7 New Bunker Barges in Santos
"There is no chemical reason for us not to achieve very high levels of desulfurization with heavy feed stocks," IUT's Engineering team lead, Dr. Pedro Pereira, tells Ship & Bunker.
Oil Tech Firm IUT On-Track for Commercial HFO Desulphurization Unit by mid 2018
$70 oil is forecast for the rest of the decade.
Analysts Say Brent Breaking $70/bbl Is The Limit - But Producers And Investors Remain Bullish
Citigroup is one of several analysts predicting market chaos this year.
Venezuela, Trump Cited as Geopolitical Wildcards That Could Lift Oil Prices to $80/bbl
It is said the cartel will try to talk prices down if oil tops $70.
Continuing Crude Rally Causes More Worry About U.S. Shale Growth and Predictions OPEC Will Rethink Cutback Strategy