Crude-oil futures moved in a narrow price range in Asian hours Friday with market participants suggesting that the weak oil prices appear to have largely stabilized.
The United Arab Emirates is in no hurry to see OPEC cut its oil output target this year despite the sharp drop of global crude prices in the last few months, senior UAE energy officials indicated on Tuesday.
US LNG to Help, Not to Solve European Problems with Russia
$100/barrel level since September 5, falling to $94.13/barrel this afternoon, the lowest level in more than two years. Prices have declined almost $21 (18%) from the 2014 daily peak of $115/barrel on June 19
Crude oil would cost at least $150 a barrel due to supply disruptions in the Middle East and North Africa were it not for rising production in North Dakota and Texas
Some analysts and investors worry that oil companies will not spend enough either to sustain growth in their core businesses, or to open options in alternative energy sources for a world in which oil and gas consumption is constrained by climate policy or high prices.
OIL PRICES WTI, BRENT,1990 - 2014
France’s Total on Monday said its joint venture with Russia’s Lukoil , to explore shale oil in western Siberia , had ground to a halt as a result of western sanctions.
MARKETS: BoA says Saudi Arabia could be pushing for sustained weak crude oil prices
Weakening global demand and increased Libyan oil exports contributed to a drop in the North Sea Brent crude oil spot price to an average of $102 per barrel (bbl) in August, $5/bbl lower than the July average and $10/bbl below the average in June.