UNSTABLE OIL PRICES
BLOOMBERG wrote, oil prices will become more volatile after next year amid under-investment in production and uncertain growth in demand, Suncor Energy Inc. Chief Executive Officer Steve Williams said.
Crude prices will rise through next year and become more volatile for the following two to five years, Williams said at the Toronto Global Forum. Suncor can operate "successfully" with oil prices between $35 and $40 a barrel, he said.
The collapse of oil prices has forced Canadian and global producers to slash costs and curtail investment over the past two years. Even after a rebound from a 12-year low earlier this year, oil futures in New York are still about 60 percent down from their 2014 peak. Prices have been mostly stuck in the $40-$50 range for the past four months.
Canada's oil reserves are "probably" the largest in the world and eventually there will be more competition to access them, Williams said.
Canada is close to getting an oil pipeline built, most likely Kinder Morgan Energy Partners LP's Trans Mountain or TransCanada Corp.'s Energy East, the Suncor CEO said. The country has a reputation of not being able to get stuff done and is slowly making steps to reverse that, he added.
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FRB - Industrial production rose 0.5 percent in March after increasing 1.0 percent in February; the index advanced 4.5 percent at an annual rate for the first quarter as a whole. After having climbed 1.5 percent in February, manufacturing production edged up 0.1 percent in March. Mining output rose 1.0 percent, mostly as a result of gains in oil and gas extraction and in support activities for mining. The index for utilities jumped 3.0 percent after being suppressed in February by warmer-than-normal temperatures. At 107.2 percent of its 2012 average, total industrial production was 4.3 percent higher in March than it was a year earlier. Capacity utilization for the industrial sector moved up 0.3 percentage point in March to 78.0 percent, a rate that is 1.8 percentage points below its long-run (1972–2017) average.
AOG - Kuwait plans to invest $113bn over the next five years to enhance oil exploration and production activities both inside and outside the country
МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 марта по 14 апреля 2018 года составила $ 65,80125 за баррель, или $ 480,3 за тонну.
REUTERS - Oil prices slipped with Brent crude futures LCOc1 off 66 cents at $71.92 a barrel, while U.S. crude CLc1 fell 56 cents to $66.83 a barrel.