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2017-05-23 15:15:00

OIL PRICE: ABOVE $53 ANEW

ЦЕНА НЕФТИ: ОПЯТЬ ВЫШЕ $53

BRENT OIL PRICE MAY 23 2017

WTI OIL PRICE MAY 23 2017

REUTERS , BLOOMBERGOil prices fell on Tuesday, weighed down by U.S. President Donald Trump's plan to sell off half the country's huge oil stockpile, threatening a future glut even as OPEC and its allies cut output to try and tighten the market.

Brent crude LCOc1 ended a run of four days of consecutive gains to trade 36 cents lower at $53.51 per barrel at 0831 GMT.

U.S. light crude CLc1 was down 33 cents at $50.80.

The White House plan to sell off half of the nation's 688 million-barrel oil stockpile from 2018 to 2027 aims to raise $16.5 billion and help balance the budget.

The budget, to be delivered to Congress on Tuesday, is only a proposal and may not take effect in its current form.

"Congress needs to agree to this which is rather uncertain," said Carsten Fritsch, commodity analyst at Commerzbank. "But of course, it could weigh on the back end of the forecast."

A release of U.S. strategic reserves could jolt an already imbalanced oil market and undermine attempts by The Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to end a persistent glut.

OPEC, led by Saudi Arabia, and other participating producers will meet on May 25 and are expected to extend the period of their pledge to cut output by 1.8 million barrels per day (bpd) from just the first half of this year to all of 2017 and the first quarter of 2018.

On Tuesday, Kuwait's oil minister said not all OPEC countries and allies were on board for a nine month extension and producers would discuss this week whether to extend output cuts by six or nine months.

Oystein Berentsen, managing director for oil trading company Strong Petroleum in Singapore said the White House proposal was a surprise, but added that over a 10-year period the sales would only average around 95,000 bpd.

"It's not huge, but it won't help Saudi efforts," he said.

The bigger effect, if implemented, could be over the long-term as the value of oil reserves to be sold is scheduled to rise.

Releasing reserves would add supplies to already high and rising U.S. production C-OUT-T-EIA of 9.3 million bpd, not far off levels of top suppliers Saudi Arabia and Russia.

Goldman Sachs has already warned of "risks for a renewed surplus later next year if OPEC and Russia's production rises to their expanding capacity and shale grows at an unbridled rate."

BRENT OIL PRICES MAY 2016 -  MAY 2017

WTI OIL PRICES MAY 2016 -  MAY 2017

BRENT OIL PRICES MAY 2012 -  MAY 2017

WTI OIL PRICES MAY 2012 -  MAY 2017_

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Earlier: 

OIL PRICE: ABOVE $53 

OIL PRODUCTION CONSENSUS

OIL PRICE: ANEW ABOVE $52  

ВЗАИМОДЕЙСТВИЕ РОССИИ И АЛЖИРА 

OIL PRICE: ABOVE $51 

 

Tags: OIL, GAS, PRICE, НЕФТЬ, ГАЗ, ЦЕНА

Chronicle:

ЦЕНА НЕФТИ: ОПЯТЬ ВЫШЕ $53
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.

ЦЕНА НЕФТИ: ОПЯТЬ ВЫШЕ $53
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.

ЦЕНА НЕФТИ: ОПЯТЬ ВЫШЕ $53
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.

ЦЕНА НЕФТИ: ОПЯТЬ ВЫШЕ $53
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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