crude oil price production

Crude Oil Price: a “mindful” growing confidence for 2017

Expectations and confidence: Goldman Sachs (GS) on the new Donald Trump policy to support crude oil prices.

Initially Donald Trump’s victory, the strengthening dollar, rising US crude oil rigs, and high crude oil, gasoline, and distillate inventories could limit the upside for prices.

Goldman Sachs (GS) expects that successful implementation of OPEC (Organization of the Oil Exporting Countries). Non-OPEC producers’ plan to cut production will reduce the oversupply in the market and support crude oil prices.
Goldman Sachs expects Brent to average $58 per barrel in 2017—compared to its previous forecast of $51.50 per barrel. Likewise, it expects WTI crude oil prices to average $57.50 per barrel for the same period.
However, a recent Reuters report may be showing there was more to the decision to cut production. While the supply imbalance was first the main reason for the cut, now reports are surfacing that prior production levels may have been testing capacity limits.

The Reduction forecast

OPEC agreed to slash the output by 1.2 million barrels/day from Jan. 1, with top exporter Saudi Arabia cutting as much as 486,000 barrels/day.
Non-OPEC oil producers (such as Azerbaijan, Bahrain, Brunei, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan, and South Sudan) agreed to reduce output by 558,000 barrels/day. And this latter starting from Jan. 1, 2017 for six months, to take into account prevailing market conditions and prospects.
Nevertheless, the successful implementation of Donald Trump’s energy policies would lead to a rise in US crude oil production. The rise in non-OPEC production in 2017 would also pressure crude oil prices. A Wall Street Journal survey of major banks predicts that US and Brent prices will average $54 per barrel and $56 per barrel in 2017, respectively. It’s $1 per barrel more than the previous estimates.
Let’s see in June which effects of this policy in the oil market.
Oil & Gas

Stopson Italiana wishes you a Merry Christmas and an outstanding 2017!

It has been a great year of growth and confirmation for Stopson Italiana.
Thanks to our customers’ trust and support from our suppliers we could track a growth trends in volume, profit and moreover work force.
Our Sales team is today counting on three full-time resources to support a growing demand for responsiveness and competitiveness, as well as three resources within the Project Management team, now supported by six units Engineering Team and two external consultants.
Our 50 years long experience in the steam vent silencers market has enabled us to record one of the highest volumes ever in this product segment through the acquisition of several contracts with major Engineering Companies for plants located in Russia, Egypt , Saudi Arabia, Malaysia, Iraq. This is also to confirm Stopson Italiana’s high exposure to the international market, made also possible thanks to the presence of our Company in the most important trade fairs.
We were in fact present at this year’s Power Gen Europe in Milan and at the Power Gen Asia in Seoul, in line with our marketing policy that will be confirmed in 2017 with participation to OMC 2017 in Ravenna in late March, Gastech 2017 Tokyo in April and Power Gen Europe in Cologne in June.

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