MARKETS: IEA says global oil stockpile at record three billion barrels

(EnergyAsia, December 3 2015, Thursday) — The International Energy Agency (IEA) has delivered another piece of news to beat down any hopes for a near-term recovery in oil prices: global stockpile have just topped a record three billion barrels. According to the agency, the stockpiles “are providing world markets with a degree of comfort” as (more…)

ASIA: Modest growth, healthy margins outlook for oil refiners, says Moody’s

(EnergyAsia, December 2 2015, Wednesday) — Moody’s Investor Service said Asian downstream oil companies can expect modest growth and healthy margins in 2016 with crude prices staying low and the region’s refining capacity glut easing off. The US rating agency presented its forecast of the industry in a report examining the prospects of nine major (more…)