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2018-06-04 13:55:00

OIL PRICE: ABOVE $76 ANEW

OIL PRICE: ABOVE $76 ANEW

REUTERS -  U.S. crude oil futures dipped for a third consecutive session on Monday, with prices coming under pressure from record U.S. output and expectations of higher OPEC supplies.

U.S. West Texas Intermediate (WTI) crude futures fell 10 cents, or 0.2 percent, $65.71 a barrel by 2353 GMT. Last week, WTI lost around 3 percent, adding to a near 5 percent decline a week before.

The global benchmark Brent fell 26 cents, or 0.34 percent, to $76.53 a barrel.

"Crude oil remained under pressure as the market remained focused on the discussion between OPEC members about whether they should increase production later this year," ANZ said in a note.

"In the U.S., the data also presented a gloomy picture. Crude oil production rose to another record, while drilling activity picked up again."

Saudi Arabia, effective leader of the Organization of the Petroleum Exporting Countries (OPEC), and Russia have discussed boosting output to compensate for supply losses from Venezuela and to address concerns about the impact of U.S. sanctions on Iranian output.

Russia's largest oil producer Rosneft will be able to restore 70,000 barrels per day (bpd) of oil output in just two days if global production limits are lifted, Renaissance Capital wrote in a client note.

U.S. crude production rose in March to 10.47 million barrels per day (bpd), a monthly record, the Energy Information Administration said on Thursday.

U.S. drillers added two oil rigs in the week to June 1, bringing the total to 861, the most since March 2015, General Electric Co's Baker Hughes energy services firm said on Friday. That was the eighth time drillers added rigs in the past nine weeks.

Hedge funds and other money managers cut their bullish wagers on U.S. crude futures and options, according to data released on Friday, as oil prices slumped on oversupply fears.

The speculator group cut its combined futures and options position in New York and London by 50,937 contracts to 370,980 during the week to May 29, the U.S. Commodity Futures Trading Commission said.

 

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Earlier: 

Prices
2018, June, 1, 09:45:00

OIL PRICE: ABOVE $77 YET

REUTERS - U.S. West Texas Intermediate crude CLc1 lost 16 cents, or 0.2 percent, to $66.88 a barrel by 0423 GMT, after falling almost 2 percent on Thursday. Global benchmark Brent crude LCOc1, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel.

Prices
2018, May, 30, 14:10:00

OIL PRICE: ABOVE $75 TOO

REUTERS - Brent LCOc1 rose 40 cents to $75.79 a barrel by 0925 GMT, after trading as low as $74.81 earlier. U.S. crude CLc1 was up 25 cents at $66.98.

 

Prices
2018, May, 30, 14:05:00

МЫ НАЙДЕМ КОМПРОМИСС

МИНЭНЕРГО РОССИИ - «Я думаю, что мы найдем общее согласие, общий компромисс. Все страны заинтересованы в стабильной ситуации на рынке. Никто не заинтересован в том, чтобы создавать перегрев на рынке», - отметил Министр.

 Prices
2018, May, 30, 14:00:00

UNDERINVESTMENT GLOBAL OIL

REUTERS - The global oil industry should ramp up investment to ensure it can cope with future consumption growth and avoid supply shortages, OPEC Secretary-General Mohammad Barkindo told a conference in Baku.

Prices
2018, May, 30, 13:50:00

OPEC: CONFORMITY LEVEL 152%

OPEC - The JMMC reported that participating countries have achieved a conformity level of 152% during the fourth month of the second year of the Declaration of Cooperation. This demonstrates the commitment of participating countries to the restoration of market stability, which is intended to serve the long term interests of producers, consumers and the global economy.

Prices
2018, May, 28, 11:45:00

OIL PRICE: ABOVE $75 AGAIN

REUTERS - Brent crude futures LCOc1 stood at $75.35 a barrel at 0913 GMT, down $1.09 from the previous close and after touching a three-week low of $74.49 earlier in the session. U.S. West Texas Intermediate (WTI) crude futures were at $66.69, down $1.19, after hitting a six-week low of $65.80.

Prices
2018, May, 28, 11:40:00

БУДЕТ ПЛАВНОЕ СОКРАЩЕНИЕ

МИНЭНЕРГО - «В целом, все согласны, что нужно этот вопрос очень серьезно обсудить на Министерской встрече, которая состоится в июне в Вене. Там будут предложены различные варианты. Но, скорее всего, это будет плавное сокращение. Наша задача – и не дестабилизировать рынок нефти, и не перегреть его», - сказал Александр Новак 

Tags: OIL, PRICE, BRENT, WTI, URALS, OPEC, НЕФТЬ, ЦЕНА