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2017-01-17 18:40:00

2017: OPEC SEES STABILITY

2017: OPEC SEES STABILITY

REUTERS - OPEC Secretary-General Mohammed Barkindo forecast on Monday that stability would return to oil markets this year while price hawk Venezuela said it hoped its crude basket would rise to $70 in coming months.

The head of the Organization of the Petroleum Exporting Countries was back in Caracas for a second meeting in two months with President Nicolas Maduro whom he lavishly praised for an "inspirational" role in the producers' pact to cut output.

"We remain optimistic Mr. President that with the full and timely implementation of this historic decision between us and non-OPEC, in 2017 the situation of our economies will improve tremendously," Barkindo said at a news conference with Maduro.

"And stability to the oil market that has eluded us for nearly three years will be restored on a sustainable basis in the interest of producers, consumers and the global economy."

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Earlier:

OPEC:

EMIRATES URGE TO CUT 

RUSSIA - OPEC ALLIANCE 

IRAQ PLANS 3.6 MBD 

SAUDI CUTS OIL PRODUCTION: 486 TBD 

RUSSIA CUTS 100 TBD

 

PRICES: 

OIL PRICES: ABOVE $55 AFRESH 

URALS: $52.53 

2017: VOLATILITY OIL PRICES 

OIL MARKET DEFICIT 

RUSSIA'S OIL SUCCESS

 

 

Tags: OPEC, OIL, PRICES

Chronicle:

2017: OPEC SEES STABILITY
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

2017: OPEC SEES STABILITY
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

2017: OPEC SEES STABILITY
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

2017: OPEC SEES STABILITY
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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