Tag: OPEC

RFA asks President Biden to choose U.S. ethanol over OPEC+ oil

RFA asks President Biden to choose U.S. ethanol over OPEC+ oil

August 15, 2021 |

In Washington, D.C., in response to this week’s announcement by the White House calling on OPEC+ member countries to increase oil output, the Renewable Fuels Association sent a letter to President Biden supporting the Administration’s call for an investigation into the true causes of recent higher gas prices. The letter also underscored that the solution […]

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Palm oil futures prices continue to rise but capped by OPEC+ production decision

Palm oil futures prices continue to rise but capped by OPEC+ production decision

July 19, 2021 |

In Malaysia, Reuters reports palm oil prices continue to climb higher to $981 per metric ton, supported by a tight market and a weakening Malaysian ringgit. But with OPEC+ countries agreeing to increase oil production, prices didn’t go as high as they would have otherwise. With COVID-19 again surging around Southeast Asia, it’s difficult to […]

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Brazilian ethanol prices sink on the back of OPEC dispute over production cuts

Brazilian ethanol prices sink on the back of OPEC dispute over production cuts

March 16, 2020 |

In Brazil, Platts reports that ethanol prices have tanked in response to OPEC failing to agree on production cuts, a spat particularly focused between Russia and Saudi Arabia, which in the face of coronavirus impacts that are expected to cut demand for fuel, has also pushed down ethanol prices. Ethanol prices last week were reported […]

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Ethanol producers watching OPEC meeting for potential demand signals

Ethanol producers watching OPEC meeting for potential demand signals

November 29, 2017 |

In Austria, the global sugar industry—and especially Brazil—is keeping an eye on the upcoming OPEC meeting in Vienna this week for signals that could make ethanol more competitive in light of rising gas prices. Doing so would urge Brazilian sugar mills to produce even more ethanol and that in turn would reduce the amount of […]

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As OPEC falls, what is the liberated market signaling to producers?

As OPEC falls, what is the liberated market signaling to producers?

March 21, 2017 |

The biggest two pieces of news in renewable fuels in the past 12 months have been the collapse in RIN prices, and the complete offsetting of reduced Middle Eastern oil production with increases in US rig counts for fracking operations. In other words, OPEC has collapsed in terms of its goal of setting a global oil […]

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Vegetable oil prices follow petroleum prices higher after OPEC refuses to boost production

Vegetable oil prices follow petroleum prices higher after OPEC refuses to boost production

December 14, 2016 |

Around the world, vegetable oil prices have strengthened on the back of higher petroleum prices, 19% higher over the past two weeks at around $55 per barrel. Oil prices have shot up after OPEC countries decided they wouldn’t increase production. The USDA says some analysis shows oil prices topping $60 during the early parts of […]

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Middle East regains oil dominance after scuttling fracking, biofuels through pricing strategy

Middle East regains oil dominance after scuttling fracking, biofuels through pricing strategy

July 17, 2016 |

In New York, the Wall Street Journal is reporting that “The Middle East is back as the world’s dominant oil-producing region, churning out its biggest chunk of global output since the 1970s and giving OPEC an edge in its fight for market share.” Last month alone, US oil output dropped 176 million gallons, while Middle […]

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Biofuels as seen by OPEC: The Digest’s 2016  8-Slide Guide to biofuels in the World Oil Outlook

Biofuels as seen by OPEC: The Digest’s 2016 8-Slide Guide to biofuels in the World Oil Outlook

December 28, 2015 |

In this year’s World Oil Outlook, OPEC writes: The prospects for first generation biofuels are constrained by factors such as land use changes, excessive water usage, and the impact on food production and prices from cultivating crops. The costs of production are high and mostly determined by feedstock availability and conversion processes. In the medium-term, […]

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OPEC’s indecision sees biodiesel premium soar to record $512 per ton

OPEC’s indecision sees biodiesel premium soar to record $512 per ton

December 8, 2015 |

In the UK, following last Friday’s OPEC meeting in Vienna oil prices sunk after producers failed to agree on a production cap and keep production running high, which has in turn boosted the biodiesel premium to a record of $512.25/mt for RED compliant RME. It’s the first time the premium has broke $500 per ton, […]

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Researchers hope to get biofuels from citrus waste.

Researchers hope to get biofuels from citrus waste.

July 9, 2012 |

In the UK, researchers have created OPEC, for Orange Peel Exploitation Company, to explore options for using citrus peels as feedstock for biofuels and bio-based chemicals, and have teamed with the University of York, the University of Sao Paulo and the University of Cordoba to test a model bio-refinery. About 15.6 million tons of citrus […]

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