- Natural Gas Inventories: 32 bcf exp.|| 66 bcf prior [10:30 et]
- Crude Inventories: -821K barrels vs. ??“3.93MKe [yesterday]
- Gasoline Inventories: -819K barrels vs. +1.29M [yesterday]
- Distillate Inventories: +98K barrels vs.+808Ke [yesterday]
- OPEC daily basket hit an all time high of $90.71/barrel on Wednesday
- OPEC Secretary General: The market is well supplied || There have been no supply interruptions || The US Dollar decline contributes to oil prices || There is no shortage of crude oil || Will not discuss output increase at the November meeting || OPEC is ready to interfere in the market if needed || Oil price is no bonanza because of the weak Dollar || OPEC will assess market conditions at the December meeting
- ConocoPhilips will halt output at 5 North Sea platforms today due to the weather || To halt approximately 140bpd of production [cop]
- Gazprom blocks ENI pipeline access for two Gas Siberia fields || Start-up delayed [wires citing newspaper]
- Royal Dutch Shell proposes to develop oil and gas reserves in Russia??™s Yamal peninsula long with Gazprom [rdsa.uk] [gazp.ru]
- Oil Search sold a stake in its Eqyptian exploration rights to Oman??™s Petrogas [osh.au]
- South Korean Finance Ministry: Annual inflation will remain high on the back of high oil prices
- Lufthansa boosts its fuel surcharge on long-haul flights by ?‚¬77 [lha.ge]
- The rising price of oil is prompting airlines to push up airfares as much as demand will allow and is causing them to rethink how much capacity they'll offer in 2008. [Dallas News]
- As oil approaches the $100-a-barrel milestone, M. S. Srinivasan, India??™s petroleum secretary, has an unorthodox recommendation for cooling overheated prices: halt trading of crude oil on commodity exchanges. [WSJ]
- China will prohibit foreigners from investing in small and mid-sized oil refineries under new guidelines issued yesterday, limiting access for overseas firms seeking a foothold in the world's second- largest energy market. [Hong Kong Standard]
- Sagging crude output at the world's top oil companies is the latest indicator that their profits may have peaked even as oil runs toward $100/barrel. Oil and gas production fell at all the largest publicly traded oil companies in the third quarter, as ageing oil fields, production-sharing agreements and soaring costs and demand for drilling services took their toll on output. [New Zealand Herald]
- NCH: No tropical formations expected over the next 48 hours
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