Released July 08, 2020 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.
IIR's Market Scorecard gives you the breaking news headlines from around the world, along with the directional impact to commodities, with expert indicators, and live links to IIR key research so you instantly have the details you need and make the right decisions.
For more information email us: iirteam@iirenergy.com.
Click here for the market scorecard PDF.
Industrial Info's global research teams are committed to confirming and reporting on the ongoing changes related to current market disruptions and how they are impacting project schedules.
We have created two searches to assist you in quickly identifying projects and unit offline events that have been impacted or delayed as a result of COVID-19.
Please use the links below to run each query. Details will be limited to your IIR subscription.
For projects confirmed to have been impacted, click here.
For offline events that have been impacted, click here.
We encourage you to visit these links daily, as our research teams are constantly releasing updates
. We also believe there are many projects moving forward as scheduled. Please use your PECWeb subscription to identify new opportunities through your latest updates widget or use this link to find new projects that have been released since March 16: Click here.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
IIR's Market Scorecard gives you the breaking news headlines from around the world, along with the directional impact to commodities, with expert indicators, and live links to IIR key research so you instantly have the details you need and make the right decisions.
| Event | MarCon* | IIR Comment | IIR Links | Outlet |
| Chinese Oil Titans Plan Joint Crude Buying to Add Market Clout |  |
"Senior executives from China Petroleum & Chemical Corp., PetroChina Co., Cnooc Ltd. and Sinochem Group Co. are in advanced talks to iron out details of the plan [...] the group represents refiners that import more than 5 million barrels of oil a day. That's nearly a fifth of OPEC's total output, which would make it the world's largest crude buyer in theory [...] "the group is set to collectively issue bids for certain Russian and African grades in the spot market." | Industrial Info's Weekly Global Refining Impact Report | Bloomberg |
| China services index hits 10-year high in sign of recovery |  |
"The Caixin/Markit services purchasing managers' index surged to a 10-year high of 58.4 last month, up from 55 in May and a nadir of 26.5 in February, when Beijing put the world's second-largest economy into lockdown. A PMI below 50 indicates contraction." | China Speeds Up Steel Capacity-Replacement Projects, an Industrial Info Market Brief | Financial Times |
| OPEC+ expected to increase production in August |  |
After record production cuts, OPEC+ will increase production in August. Reports suggest that production will increase by about 2 million barrels of oil per day. | Global Oil Markets Poised for Rebalancing, an Industrial Info Market Brief | Reuters |
| Saudi Arabia threatens another price war... | |
Saudi Arabia is upset. After agreeing to massive oil production cuts between OPEC+ members, the oil nation is unhappy with the members that have not kept their part of the promise. | Pivotal OPEC+ Meeting Set for July 15, an Industrial Info Market Brief | WSJ |
| Russian exports to Europe hit 20-year low | |
Russian oil exports to Europe fell to only 900,000 barrels per day as other oil -- from the U.S. in particular -- is more profitable to refine in European refineries. | Oil Refiners Increase Gasoline Output, an Industrial Info Market Brief | Reuters |
| Weekly Recap: 07/01-07/08 |  |
Plink. Is the sound of yet more dominoes falling in global crude supply chains that we thought we once knew. There are COVID new normals. And then yet-to-be-understood new normals. Could somebody give me tomorrow's scripted orders, today? Russia losing market share in Europe - who would have thunk. Well at least there is China's plan to be the world's largest crude buyer with eyes on its friends -- Russia (geopolitical) & Africa (think Belt & Road initiative). And Saudi Arabia is struggling to rein in the Cartel. One that might no longer have the clout or relevance it once did. Now if only the World's largest economy can get its House of Cards in order... |
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| *MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR. | ||||
For more information email us: iirteam@iirenergy.com.
Click here for the market scorecard PDF.
Industrial Info's global research teams are committed to confirming and reporting on the ongoing changes related to current market disruptions and how they are impacting project schedules.
We have created two searches to assist you in quickly identifying projects and unit offline events that have been impacted or delayed as a result of COVID-19.
Please use the links below to run each query. Details will be limited to your IIR subscription.
For projects confirmed to have been impacted, click here.
For offline events that have been impacted, click here.
We encourage you to visit these links daily, as our research teams are constantly releasing updates
. We also believe there are many projects moving forward as scheduled. Please use your PECWeb subscription to identify new opportunities through your latest updates widget or use this link to find new projects that have been released since March 16: Click here.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
