Refining - 01 December 2016

A new report from Future Market Insights has predicted the oil and gas terminal automation market will be valued at US$850 million in 2016.

While prices may climb further in the very near-term, WisdomTree expects that any gains will be short lived, with US production likely to ramp up to exploit higher prices.

New international regulations limiting sulfur in fuels for ocean-going vessels have further implications for both refiners and vessel operators at a time of high uncertainty in future crude oil prices.

Ceiba Energy Services has announced the opening of the Kaybob waste fluid facility in Alberta, Canada.

The conference decided to implement a new OPEC-14 production target of 32.5 million bpd, in order to accelerate the ongoing drawdown of the stock overhang and bring the oil market rebalancing forward.