April 2016

The Russian camp was locked in negotiations with the Saudis, Qataris and Venezuelans — a core group that had first backed the freeze in February.

Thousands of workers in six oil and petrochemical companies went on strike Sunday to protest proposed government cutbacks.

“The one hope is that earnings bounce back and company cash flows [improve],” Mr Caprio added. “If that doesn’t happen, [companies] will have debt to pay off and it is unclear how they’ll pay it.”

Industrial production—a broad gauge of output across U.S. factories, mines and power plants—decreased a seasonally adjusted 0.6% in March from the prior month, the Federal Reserve said Friday. Output has fallen for six of the past seven months. From a year earlier, industrial production decreased 2% in March. Manufacturing output, the largest component of the index, fell 0.3% in March.

Now the two sides, buyer and seller, will have to make do without the safety-net the contracts offered: high gas demand translates into high gas prices for the customers, while indexation to low oil prices would have deprived Gazprom of the upside of a temporary supply glitch or a prolonged cold winter.

Some 18 OPEC and non-OPEC countries, including Russia, had been meant to meet on Sunday morning in the Qatari capital of Doha and rubber-stamp a deal - in the making since February - to freeze output at January levels until October 2016.

U.S. Rig Count is down 3 rigs from last week to 440, with oil rigs down 3 to 351, and gas rigs remain unchanged at 89. Canadian Rig Count is down 1 rig from last week to 40, with oil rigs up 2 to 10, and gas rigs down 3 to 30.

«Рост спроса на нефть в мире ежегодно составляет около 1 млн баррелей в сутки. Это означает, что в отрасли должен быть инвестиционный потенциал не только для сланцевых проектов, но и для других участников рынка».

Россия готова к тому, чтобы начинать формировать информационную позицию в отношении объемов добычи, перспектив добычи, проблем, которые формируются, и давать свои оценки.

“A flat output profile for OPEC (excluding Iran) and Russia would tighten global balances by almost 0.5 million barrels a day in the second half relative to our expectations and push the oil market into a deficit in the third quarter,” the U.S. bank wrote in a note on Wednesday. That would “push prices above $50 near term,” it said.