Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2016-07-15 13:38:00

OIL PRICES DOWN TO $44.75

OIL PRICES DOWN TO $44.75

OGJ said, the light, sweet crude oil price for August delivery fell by more than $2/bbl on July 13 to settle at $44.75/bbl, which was the lowest front-month closing since May 10. The price drop followed a weekly US inventory report that showed continuing high crude oil and product supply levels.

The Energy Information Administration said US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 2.5 million bbl to 521.8 million bbl for the week ended July 8 compared with the previous week's total.

Crude supplies remain at historically high levels for this time of year. Total motor gasoline inventories rose 1.2 million bbl, well above the upper limit of the average range.

US crude refinery inputs operated at 92.3% of capacity for the week ended July 8 while refinery runs averaged 16.5 million b/d.

Refineries could reduce activity because of high-product supplies, which would in turn push more crude oil into storage.

"This is just going to inspire more talk and implementation of run cuts, further depressing demand for crude oil and exacerbating the glut in that market," said Andy Lipow, president of Lipow Oil Associates. "I call this the death spiral."

EIA said US production was 8.45 million b/d, up 57,000 b/d for the week ended July 8 compared with the previous week. Alaska's production was up 71,000 b/d, which outweighed a production decline across the Lower 48 of 14,000 b/d.

Separately, the International Energy Agency said large world crude oil inventories remain "a major dampener on oil prices."

The amount of crude oil and refined products being held in tankers floating offshore in June reached its highest level since 2009, IEA said.

"The tone of the IEA report certainly is quite negative," said Michael Hsueh, Deutsche Bank analyst.

Energy prices

The crude oil contract for August on the New York Mercantile Exchange plunged $2.05 on July 13 to settle at $44.75/bbl. The September contract dipped $2.13 to $45.44/bbl.

The natural gas contract for August was up a fraction of a cent to $2.74/MMbtu. The Henry Hub gas price was $2.81/MMbtu, up 6¢ on July 13.

Heating oil for August delivery fell 8¢ to $1.38/gal. The price for reformulated gasoline stock for oxygenates blending for August dropped 5¢ to a rounded $1.38/gal.

The September Brent crude contract on London's ICE fell $2.21 on July 13 to $46.26/bbl. The contract for October decreased $2.24 to $46.81/bbl. The August gas oil contract settled at $403.75/tonne, down $19.75.

The average price for the Organization of Petroleum Exporting Countries' basket of 12 benchmark crudes was $43.19/bbl on July 13, down 3¢.

-----

Earlier: 

2017: OIL MARKET BALANCE 

2017: RISING OIL DEMAND 

OIL PRICES DOWN $45 

WBG: GLOBAL GROWTH DOWN TO 2.4% 

IEA: NEGATIVE OIL PRICES

 

 

Tags: OIL, GAS, PRICES

Chronicle:

OIL PRICES DOWN TO $44.75
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

OIL PRICES DOWN TO $44.75
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

OIL PRICES DOWN TO $44.75
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

OIL PRICES DOWN TO $44.75
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

All Publications »