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PVM Midday Report 17 February 2015

Published Tuesday, February 17th, 2015

Headlines

  1. Angolan crude exports in April planned at 1.67 mbpd, down from 1.8 mbpd in March
  2. Poor weather forces Russia to halt oil exports from Black Sea port of Novorossiisk
  3. Ukraine ceasefire on the brink of collapse as forces refuse to pullback heavy guns
  4. ZEW survey of German investor morale rises to 12-month high in February
  5. UK inflation slips to fresh record low of 0.3% in January

Oil                                                                                              

Fundamentals: Angola is set to export 1.67 mbpd of crude in April, down from 1.8 mbpd planned in March. After bad weather recently plagued a number of oil exporters in the Persian Gulf, Russia has become the next victim after it announced poor weather conditions forced it to halt exports from the Black Sea port of Novorossiisk. Meanwhile, despite ongoing political turmoil, oil giant ENI has reported that it is continuing to produce oil and gas regularly in Libya according to Reuters.

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.