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...Letter in response to this article: PM blandishments fail to sway ‘Spycatcher’ publisher / From Derek Wyatt, Former Director, William Heinemann; Former MP, Aldeburgh, Suffolk, UK...
...West Texas Intermediate, the US marker, fell 4 per cent, to $69.74/b....
...Goldman Sachs believes Chinese oil demand dropped by 500,000 b/d last week — a huge number....
...Yes, even Venezuela, which Platts believes is now producing almost 800,000 b/d....
...“Ramaswamy certainly didn’t introduce hype into the biopharma IPO sphere,” said Derek Lowe, a pharmaceutical researcher and commentator....
...Shell says it has achieved that target already, with production now at 1.5mn barrels a day, down from 1.9mn b/d in 2019....
...Write in with your views: derek.brower@ft.com....
...Exports — mainly to Asia — were 4.7mn b/d, below its five-year average, according to OilX....
...Ten years later, global marketing and PR agency Rogers and Cowan acquired the business for an undisclosed sum....
...He believes Russian output is down 350,000 b/d since February....
...(Derek Brower) Shale patch slowdown Earnings season is upon us again....
...Continental Resources, which shale pioneer Harold Hamm took private last year, is the US’s biggest private oil producer, pumping 280,000 b/d. It’s also a natural gas powerhouse....
...The group’s decision in April to cut 1.66mn b/d failed to halt the slide in oil prices, just as an earlier cut announced last October had failed....
...Iraq will reduce crude production by 211,000 b/d, the United Arab Emirates by 144,000 b/d, Kuwait by 128,000 b/d, Kazakhstan by 78,000 b/d, Algeria by 48,000 b/d and Oman by 40,000 b/d, according to statements...
...On average, operators say they now need a WTI price of $62/b to profitably drill — up from $56/b last year....
...derek.brower@ft.com...
...West Texas Intermediate, the US benchmark was also down 7 per cent to about $66/b....
...Saudi Arabia will implement a “voluntary cut” of 500,000 b/d, or just under 5 per cent of its output, in “co-ordination with some other Opec and non-Opec countries”, the cartel said on Sunday....
...The letter ‘B’ is scattered all over the FT News Puzzle for March....
...d and 600,000 b/d, according to one person at the dinner....
...Goldman Sachs cited banking stress, recession fears, and surging volatility as it slashed its Brent price forecast for 2023 by $7/b, to $85/b....
...Adding gasoline, diesel, propane and other fuels, exports were a whopping 11.24mn b/d over the same period — also a record. But it is not just oil....
...New post-Brexit rules for trade between Britain and Northern Ireland begin to come into force this weekend, but for wholesaler Derek O’Reilly, they are already a headache....
...Derek, Tom and Anjli have a big scoop today: In 2021 Shell considered ditching Europe and shifting its listing and headquarters to the US....
...As the Saudis and other producers cut crude exports between May and the end of the year, demand for the kind of oil sold by Russia will increase, says Roger Diwan, a veteran Opec-watcher at S&P Global Commodity...
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