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PVM Midday Report 20 November 2015

Published Friday, November 20th, 2015

  • Front-month WTI spread nosedives on expiry
  • January Bonny Light loading programme is set to rise to 218,000 bpd
  • Geopolitical tension keeps rising all over the world
  • September Greek current account surplus widens

Economy

European stock markets are lacking enthusiasm this morning but not the common European currency. The euro has been sent lower by Mario Draghi who has given his firmest hint yet about further monetary stimulus come December. Other than that it is worth pointing out that the Greek current account surplus widened to 838 million euros in September and that the country’s parliament has approved a reform bill that secure further funds from international lenders.

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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.