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All publications by tag «OIL»

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2017, April, 10, 18:35:00
U.S. DRILLING UP 35%
API announced today that estimated total wells drilled and completed in the first quarter of 2017 saw an increase of 35 percent compared to the first quarter of 2016. This is a drastic improvement from 2016 levels which saw a 59 percent decrease in total wells drilled and completed from the previous year.
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2017, April, 10, 18:30:00
U.S. RIGS UP 15 AGAIN
U.S. Rig Count is up 396 rigs from last year's count of 443, with oil rigs up 318, gas rigs up 76, and miscellaneous rigs up 2. Canadian Rig Count is up 91 rigs from last year's count of 41, with oil rigs up 34 and gas rigs up 57.
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2017, April, 7, 18:45:00
CHINA: THE TOP BUYER
China was the top foreign buyer of US crude in February, according to data that show the growing interdependence of the world’s big energy-consuming nations at a time of heightened geopolitical tensions.
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2017, April, 7, 18:35:00
IRANIAN - INDIAN TIES
Speaking to reporters following a cabinet meeting on Wednesday, the official described India as one of Iran's good customers, but stressed that New Delhi cutting its oil purchase from Iran would not cause any trouble for Tehran as the country has more demand for its oil than can produce.
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2017, April, 6, 19:05:00
OIL PRICES: ABOVE $54 AGAIN
Brent crude futures were at $54.20 per barrel at 0708 GMT, down 16 cents, or 0.28 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 18 cents, or 0.35 percent, at $50.97 a barrel.
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2017, April, 6, 19:00:00
CHINA'S OIL DEMAND UP 5.3%
China's apparent oil demand rose 5.3% year on year in the first two months of 2017 to 11.65 million b/d on the back of robust economic growth, holiday transportation demand and efforts to build stocks ahead of the refinery maintenance season that started in March.
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2017, April, 6, 18:50:00
CHINA: THE LARGEST IMPORTER
China, the world’s largest crude oil net importer, increased the share of its crude oil imports from countries outside the Organization of the Petroleum Exporting Countries (OPEC) in 2016. Of the country’s 7.6 million barrels per day (b/d) of 2016 crude oil imports, 57% came from OPEC countries, led by Saudi Arabia (13% of total imports), Angola (11%), Iraq (10%), and Iran (8%).
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2017, April, 6, 18:35:00
IRANIAN PRODUCTION CONSTRAINTS
"Iran needs billions of dollars of investment to boost crude oil production and natural gas capacity," said Mehdi Varzi, a former official at state-run National Iranian Oil Company and now an independent consultant.
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2017, April, 5, 18:50:00
OIL PRICES: ABOVE $54
Brent crude futures, the international benchmark for oil, were at $54.52 per barrel at 0658 GMT, up 35 cents, or 0.65 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 33 cents, or 0.65 percent, at $51.35 a barrel.
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2017, April, 5, 18:45:00
OPEC: HISTORIC DECISIONS
The Secretary General reiterated the commendable key role of Iraq, in particular HE Jabbar Al-Luiebi, that was instrumental within OPEC to achieve market stability for both producers and consumers and said Iraq has resumed its leading role in the Organization.