Prices high, tensions ease and a new OPEC is formed
This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'. Crude oil prices rose on news that BP was to shut‐in its 400,000 bpd Prudhoe Bay field, following the discovery of corrosion in a pipeline serving the field...
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crwiley:10.1111/j.1744-7992.2006.310906.x 2023-12-03T10:08:42+01:00 Prices high, tensions ease and a new OPEC is formed 2006 http://dx.doi.org/10.1111/j.1744-7992.2006.310906.x https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fj.1744-7992.2006.310906.x https://onlinelibrary.wiley.com/doi/pdf/10.1111/j.1744-7992.2006.310906.x en eng Wiley http://onlinelibrary.wiley.com/termsAndConditions#vor Oil and Energy Trends volume 31, issue 9, page 6-6 ISSN 0950-1045 1744-7992 Cell Biology Developmental Biology Embryology Anatomy journal-article 2006 crwiley https://doi.org/10.1111/j.1744-7992.2006.310906.x 2023-11-09T14:34:52Z This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'. Crude oil prices rose on news that BP was to shut‐in its 400,000 bpd Prudhoe Bay field, following the discovery of corrosion in a pipeline serving the field. Dated BFO went to a record high of $78.72/bbl on 8th August. Speculation that refiners on the US West Coast would seek to replace the lost Alaska North Slope crude with supplies from the Asia/Pacific region caused prices to rise there as well. US crude prices were rather less affected than elsewhere by events in Alaska as it rapidly became clear that stock levels were sufficient to deal with any loss of production. It also emerged that BP was able to keep about half of Prudhoe Bay in production. By that time, however, oil markets had latched on to an entirely different source of worry. The announcement in London that police had uncovered a plot to blow‐up aeroplanes crossing the Atlantic led to concerns of a sharp fall in passenger travel. Traders were not simply worried about the effect of this on the demand for jet fuel, but expressed concerns of a more general loss of business confidence across the world. Fears over a fall in jet fuel consumption did not appear to have spread to Singapore, where jet kerosine traded at an all‐time high of $91.75/bbl early in August. Article in Journal/Newspaper Alaska North Slope north slope Prudhoe Bay Alaska Wiley Online Library (via Crossref) Pacific Oil and Energy Trends 31 9 6 6 |
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Open Polar |
collection |
Wiley Online Library (via Crossref) |
op_collection_id |
crwiley |
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English |
topic |
Cell Biology Developmental Biology Embryology Anatomy |
spellingShingle |
Cell Biology Developmental Biology Embryology Anatomy Prices high, tensions ease and a new OPEC is formed |
topic_facet |
Cell Biology Developmental Biology Embryology Anatomy |
description |
This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'. Crude oil prices rose on news that BP was to shut‐in its 400,000 bpd Prudhoe Bay field, following the discovery of corrosion in a pipeline serving the field. Dated BFO went to a record high of $78.72/bbl on 8th August. Speculation that refiners on the US West Coast would seek to replace the lost Alaska North Slope crude with supplies from the Asia/Pacific region caused prices to rise there as well. US crude prices were rather less affected than elsewhere by events in Alaska as it rapidly became clear that stock levels were sufficient to deal with any loss of production. It also emerged that BP was able to keep about half of Prudhoe Bay in production. By that time, however, oil markets had latched on to an entirely different source of worry. The announcement in London that police had uncovered a plot to blow‐up aeroplanes crossing the Atlantic led to concerns of a sharp fall in passenger travel. Traders were not simply worried about the effect of this on the demand for jet fuel, but expressed concerns of a more general loss of business confidence across the world. Fears over a fall in jet fuel consumption did not appear to have spread to Singapore, where jet kerosine traded at an all‐time high of $91.75/bbl early in August. |
format |
Article in Journal/Newspaper |
title |
Prices high, tensions ease and a new OPEC is formed |
title_short |
Prices high, tensions ease and a new OPEC is formed |
title_full |
Prices high, tensions ease and a new OPEC is formed |
title_fullStr |
Prices high, tensions ease and a new OPEC is formed |
title_full_unstemmed |
Prices high, tensions ease and a new OPEC is formed |
title_sort |
prices high, tensions ease and a new opec is formed |
publisher |
Wiley |
publishDate |
2006 |
url |
http://dx.doi.org/10.1111/j.1744-7992.2006.310906.x https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fj.1744-7992.2006.310906.x https://onlinelibrary.wiley.com/doi/pdf/10.1111/j.1744-7992.2006.310906.x |
geographic |
Pacific |
geographic_facet |
Pacific |
genre |
Alaska North Slope north slope Prudhoe Bay Alaska |
genre_facet |
Alaska North Slope north slope Prudhoe Bay Alaska |
op_source |
Oil and Energy Trends volume 31, issue 9, page 6-6 ISSN 0950-1045 1744-7992 |
op_rights |
http://onlinelibrary.wiley.com/termsAndConditions#vor |
op_doi |
https://doi.org/10.1111/j.1744-7992.2006.310906.x |
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Oil and Energy Trends |
container_volume |
31 |
container_issue |
9 |
container_start_page |
6 |
op_container_end_page |
6 |
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1784258950607142912 |