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PVM Midday Report 15 October 2014

Published Wednesday, October 15th, 2014

  1. Separatists in Yemen encourage oil firms to halt exports from South
  2. As prices descend further, Europe could save up to $80 billion in energy imports
  3. Crude oil flow from Northern Iraq to Turkey reaches 240,000 bpd
  4. Eurozone outlook worsens as German yields decline to record low


It appears the gloom is set to continue. After yesterday’s disappointing German data, Finnish August economic output was down 0.6% on the month. Fitch followed Standard & Poor in placing France on negative watch. Annual inflation in September was 0.3% in the Eurozone whilst Chinese September inflation neared its 5-year low and was seen at 1.6%. European stock indexes are mainly down, the dollar is strengthening against the euro and gold is down 0.7%.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.