All publications by tag «OIL»
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2017, October, 16, 11:50:00
SAUDI ARAMCO IPO
Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.
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2017, October, 16, 11:40:00
OPEC EXPECTATION
The Organization of Petroleum Exporting Countries and allies including Russia have been cutting oil production this year to bring fuel inventories in industrialized nations back in line with the five-year average.
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2017, October, 16, 11:30:00
U.S. RIGS DOWN 8 TO 928
U.S. Rig Count is up 389 rigs from last year's count of 539, with oil rigs up 311, gas rigs up 80, and miscellaneous rigs down 2 to 2.
Canada Rig Count is up 47 rigs from last year's count of 165, with oil rigs up 22 and gas rigs up 25.
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2017, October, 13, 13:05:00
OIL PRICE: ABOVE $57 YET
U.S. West Texas Intermediate (WTI) crude was at $51.01 per barrel at 0647 GMT, up 41 cents, or 0.8 percent, from its last settlement. Brent was at $56.58, up 33 cents, or 0.6 percent.
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2017, October, 13, 13:00:00
PRICES: OIL $52-54; GAS $3.03-3.19
EIA forecasts Brent spot prices to average $52/b in 2017 and $54/b in 2018, which is $1/b higher in 2017 and $2/b higher in 2018 compared with last month's forecast. West Texas Intermediate (WTI) average crude oil prices are forecast to be $3.50/b lower than Brent prices in 2018.
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2017, October, 13, 12:55:00
2018 OIL MARKET FORECAST
Falling global crude oil stockpiles in 2017 will help put the market “roughly” into balance in 2018, but an increase in prices could be limited, especially if the Organization of Petroleum Exporting Countries doesn’t stick to its agreement to curb output, the International Energy Agency said.
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2017, October, 13, 12:50:00
U.S. OIL FOR ASIA
A fresh wave of North American crude cargoes could reach the Far East in the coming months, with an estimated 6 million barrels or more of light sweet US grades loading in November expected to find a home in Asia as regional end-users step up efforts to find cheaper feedstocks amid sustained strength in the Middle Eastern crude complex, Asian trade sources said.
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2017, October, 11, 13:00:00
OIL PRICE: NOT BELOW $56
Brent crude futures, the international benchmark for oil prices, were trading at $56.75 per barrel at 0649 GMT, up 14 cents, or 0.25 percent, from their last close. Brent also rose 2 percent the previous day.
U.S. West Texas Intermediate (WTI) crude futures were at $51.09 a barrel, up 17 cents, or 0.33 percent, from their last settlement. Prices rose 2 percent the day before to back above $50 a barrel.
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2017, October, 11, 12:50:00
OIL PRICES 2020: $50 - $60
Based on a “lower-for-longer” base-case scenario, global oil prices will remain in the $50-60/bbl range until late 2020, due to increasing supply that breaks even at $50/bbl, according to to the most recent global oil supply and demand outlook from McKinsey Energy Insights (MEI).
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2017, October, 11, 12:45:00
U.S. OIL WELLS UP 84%
API announced that estimated wells completed in the third quarter of 2017 increased 63 percent compared to the third quarter of 2016. This includes a dramatic 84 percent increase for all oil wells completed from year-ago levels.