OIL: STABLE REDUCTION
Crude oil prices stabilised Friday after dropping significantly this week.The crude oil market suffered another big weekly loss amid concerns over surplus supplies. This week, the prices of US crude and Brent crude dropped 4.4 percent and 2.3 percent respectively.Crude production from the Organisation of Petroleum Exporting Countries (OPEC) averaged 30.47 million barrels per day (mb/d), an increase of 402,000 barrels from the previous month, according to the OPEC monthly report released Friday, Xinhua reported.Non-OPEC oil supply growth in 2014 is forecast at 1.68 mb/d, in line with the previous report. Growth was seen coming mainly from the US, Brazil and Canada. Non-OPEC supply is expected to increase by 1.24 mb/d in 2015.US crude stockpiles added five million barrels to 361.7 million barrels last week, according to data from the Energy Information Administration (EIA) released Wednesday.Technology and high prices are opening up new oil resources from North America. US domestic crude production rose to the highest level since March 1986, according to the EIA.Traders worried that the slowing demand could not catch up with the rising global supplies.OPEC expected global oil demand growth in 2014 to reach around 1.05 mb/d, unchanged from the previous report. In 2015, world oil demand is forecast to rise by 1.19 mb/d, in line with last month's forecast.US crude for November delivery moved up five cents to settle at $85.82 a barrel on the New York Mercantile Exchange, while Brent crude for November delivery gained 16 cents to close at $90.21 a barrel.
|February, 16, 23:45:00|
|February, 16, 23:40:00|
|February, 16, 23:35:00|
|February, 16, 23:30:00|
|February, 16, 23:25:00|
|February, 16, 23:20:00|
AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.