NORWAY'S OIL PRODUCTION DOWN 34 TBD TO 1.868 MBD
NPD - Preliminary production figures for April 2018 show an average daily production of 1 868 000 barrels of oil, NGL and condensate, which is a decrease of 34 000 barrels per day compared to March.
Total gas sales were 10.1 billion Sm3 (GSm3), which is a decrease of 1.0 GSM3 from the previous month.
Average daily liquids production in April was: 1 513 000 barrels of oil, 325 000 barrels of NGL and 31 000 barrels of condensate.
Oil production is approx. 4 percent lower than the NPD's forecast, and about 3.0 percent below the forecast this year.
The main reasons that production in April was below forecast is maintenance work and minor technical problems on some fields.
Production April 2018
Oil production 2018
Liquid production 2018
Gas production 2018
The total petroleum production for the first four months in 2018 is about 79.5 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 29.7 MSm3 o.e. of oil, about 7.3 MSm3 o.e. of NGL and condensate and about 42.5 MSm3 o.e. of gas for sale.
The total volume is 3.5 MSm3 o.e. lower than in 2017.
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API - American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.
IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.
BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,046, with oil rigs unchanged at 844, gas rigs up 1 to 200, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 4 rigs from last week to 83, with oil rigs up 6 to 38 and gas rigs down 2 to 45.
REUTERS - Brent crude futures LCOc1 were at $79.57 per barrel at 0310 GMT, up 27 cents, or 0.3 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate (WTI) crude futures were at $71.62 a barrel, up 13 cents, or 0.2 percent, from their last settlement.