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JBC Energy In the Media
  • 01 April 2020

    As Saudi Arabia Boosts Oil Output, Some Tankers Have Nowhere to Go

    “The surge, driven by Crown Prince Mohammed bin Salman, was meant to demonstrate Saudi Arabia’s market power and lure away some of Russia’s crude customers.

    Cracks are starting to show in the strategy. Within days of deciding to flood markets, the kingdom went on a hiring spree in shipping markets. It booked 16 supertankers in places including Singapore where they had sat idle, as its own fleet wouldn’t be able to handle the extra exports, according to energy consulting firm JBC and ship-tracking website FleetMon.”

    The Wall Street Journal

  • 01 April 2020

    The world could soon run out of space to store oil. That may plunge prices below zero

    “‘Demand is falling so fast relative to supply that very soon many producers’ main issue is not going to be whether they can ensure operating profit but rather if they can find an outlet for their crude,’ analysts at JBC Energy wrote in a report Tuesday.

    One storage option: loading all that extra crude onto ships. JBC said about 20% of the global fleet of very large crude carriers (VLCCs) could become floating storage. But even that would not absorb the surplus.

    In April, some 6 million barrels per day of “homeless crude” might literally have nowhere to go, JBC said, a figure that would rise to 7 million barrels per day in May.”


  • 31 March 2020

    Traders scramble to unload cheap crude cargoes as glut grows

    “‘The gap between physical assessments and futures reflects the differences between the realities on the ground and speculations about efforts to ease that pressure going forward,’ JBC Energy consultants wrote Tuesday.”

    “JBC Energy consultancy estimated that there would be around 6 million barrels per day (bpd) of homeless crude in April and about 7 million bpd in May.”


  • 30 March 2020

    Could Oil Really Fall To $0?

    “The negative revisions could keep on coming. Oil prices dropped sharply during midday trading on Monday. ‘For us, this is simply reflecting the increasing awareness that oil demand is breaking away, probably by much more than the 20% we have currently in our books for April/May,’ JBC Energy said.”

  • 30 March 2020

    Saudi Arabia plans to boost oil exports to 10.6 million bpd from May

    “‘Saudi Arabia is evidently struggling significantly to increase production and exports as planned after the failed OPEC+ meeting, likely leading to continued deep discounts for Europe and the U.S.,’ JBC Energy, an oil and gas research firm, wrote in a note on Monday.

    ‘However, in these two markets, final OSPs risk to fall into negative territory, exposing some difficulties of prospective pricing in the current environment.’”


  • 30 March 2020

    Oil taps lows under $20 a barrel as coronavirus crushes demand amid price war

    “‘The coming weeks will see unprecedented pressure on oil producers. But the market is collapsing so fast, that it is really more about the logistical challenge to place oil and shut in production in a smart way, rather than the financial impact,’ wrote analysts at JBC Energy, a Vienna-based consulting firm, in a Monday note.”


  • 29 March 2020

    China ist die letzte Hoffnung für den krisengeplagten Ölmarkt

    „‚Ölmarkt ist in einem noch nie da gewesenen Ausmaß überversorgt,‛ sagt Ölexperte Loacker. David Wech, Chef von JBC Energy, rechnet für das Gesamtjahr 2020 mit einem Rückgang der durchschnittlichen Ölnachfrage um 7,3 Millionen Fass pro Tag. Ein Weiter-so sei für viele Produzenten daher unmöglich: ‚Wir glauben, dass Produzenten rund um den Globus ihre Produktion zurückfahren müssen, und zwar bereits in naher Zukunft,‛ sagt Wech.“


  • 27 March 2020

    Oil falls as demands fears outweigh stimulus efforts

    “Oil and gas research group JBC Energy said it had ‘drastically’ reduced its oil demand forecast for 2020, expecting a decline of more than 7.4 million bpd on average.”


  • 27 March 2020

    Oil prices dip as demand fears intensify

    “‘The biggest downside driver for oil prices is clearly the fallout from the containment measures to slow the spread of the coronavirus,’ said Johannes Benigni, founder and chairman of JBC Energy.”


  • 26 March 2020

    Barrel of Monkeys now worth more than a barrel of Alberta oil

    “The impact of plunging prices has forced a number of Canadian oil producers to slash their capital spending plans this year and trim back production.

    But some analysts believe oil prices could still get much lower.

    ‘Crude from Canadian oil sands could well approach zero over the coming weeks,’ says a research note from JBC Energy.

    ‘Even if cash returns turn negative, it is not a given that production will be shut in, especially in heated reservoirs at Canadian oil sand plays. But this time the situation is simply radically different.’”


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