Oil Prices Rise. Crude prices rose more than 1.5 percent on Thursday, partly due to the impact of Tropical Storm Hermine. [Reuters]
Big Traders Anticipating Little Relief. A majority of oil traders at the annual ASia-Pacific Petroleum Conference say they expect crude to remain between $40 and $60 a barrel over the next 12 months. [Bloomberg]
Two New Caspian Oil Fields To Add To Glut. Two new oil fields might contribute to price depression, as it will also come on top of extra oil from Iran which is looking to raise its exports back to pre-sanction levels. [Reuters]
North American Production, Activity On Rise. While the number of rigs engaged in exploring for oil and natural gas was down in August internationally, there was a gain in the US and Canada. [UPI]
Asia’s LNG Market A Disappointment. A lack of demand and lower revenue are threatening companies’ abilities to recoup investments in LNG terminals in the United States and Australia.
Ohio Natural Gas Workers Caught In Labor Dispute. A number of unionized workers for Dominion in Ohio are locked out in an ongoing contract dispute. [The Columbus Dispatch]
To Early To Talk Production Freeze With Iran. Eager to reach output levels it once had, Iran’s position will hamstring efforts to address the crude glut that has been weighing on prices. [Bloomberg]
Difficulties face Norwegian Arctic Oil. Norway-based Eni SpA has been experiencing a number of setbacks in it flagship project in the Barents Sea – nearly a dozen incidents since the field began output after a two-year delay. [Bloomberg]
Iraq Could Support Production Freeze For “Certain Period.” Iraqi officials told OPEC members that it sees its oil production increasing, but did indicate the level in which it would be prepared to freeze output at. [Bloomberg]
U.S. Judge Halts Fracking Plan For Californian Federal Lands. A ruling against plans to allow fracking on public lands in central California marks the second setback in three years for fracking in the state. [Reuters]
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