OPEC’s cuts have brought its output down to the level where forecasts are saying it needs to be to keep markets in balance.
China ramps up its pork import from the U.S.; Lyft is all set for its IPO; Saudi Arabia looks to push oil prices to over $70 per barrel.
Major agencies are checking in on what OPEC production was in February, and reductions are starting to bring world output level down to where the group said it wanted to get to when it met back in December.
Also this week: another hint at what IMO2020 might do to prices; more signs that the OPEC cuts are real and are taking hold.
Stockpiles in the country are building up. Also: more hints on the price of fuel in a post IMO2020 market; Russia’s lack of assistance to OPEC
Two major agencies see a supply/demand balance that is tightening on the back of steep cuts coming out of OPEC.
Crude prices are stuck in a $50-$55 range for WTI, as news that would drive prices higher inevitably gets offset soon after by something pushing it lower.
Three key agencies have completed their January forecasts and they are all reasonably confident about OPEC’s ability to balance oil markets this year.
A new rule in Mexico will boost demand for ultra low sulfur diesel. Also: the Saudis pull back from the U.S. and why it isn’t a big deal.
It was a great week if you are an oil buyer, but if you produce it, it was one to forget as oil prices break substantially below $50.
Uber and Lyft are battling on who would go public first; oil production sees a dip in November; Amazon Go to venture into airport retail.
Keeping track of a week-long series of events that on the surface should be driving prices higher.
Also in the pickup: the sad state of interstate 81; farmers and truckers in the news; Saia’s fourth-quarter status report
EU guns towards a new regulation that forces fleets to provide minimum wages to drivers; OPEC meets today over oil price turmoil and production ceiling; China agrees to resume U.S. soybean and LNG imports.
Saudi Arabia and Russia agree on further production cuts to prop up crude prices; Qatar leaves OPEC to focus on nat gas; heavy sweet crudes are trading at a premium in anticipation of IMO 2020.
Tesla cuts prices of Model S and Model X; oil prices are down to a one-year low; Hong Kong bats for free trade; Hapag-Lloyd is launching a premium product based on extensive market research.
Also in the pickup: vets get a shot at free CDL training; another dispatch from the parking wars
Oil prices fall on the back of a possible supply glut; highly populated cities are fighting back to regulate traffic during peak hours; U.S. companies are finding it hard to continue working in Iran after the now-in-effect trade sanctions.
It’s been quite a few weeks in the discussions regarding precision railroading vs. not-precision, for lack of a better term. Also: OPEC pumping strong, Bangkok a growing intermodal hub
Iran’s truckers are on strike in 100 cities for the second time this year, causing fuel shortages. Meanwhile, the Iranian rial is rapidly losing its value, and the country’s biggest crude oil customers are cutting it off.
