All publications by tag «OIL»
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2017, March, 10, 19:05:00
OIL PRICES: ABOVE $52 ANEW
Brent crude oil was up 15 cents at $52.34 a barrel by 0900 GMT, after falling 1.7 percent on Thursday and 5 percent the day before in its biggest percentage decline in a year.
U.S. crude oil was up 15 cents at $49.43 a barrel. It fell below $50 on Thursday for the first since December. U.S. crude is on track for a drop of more than 7 percent this week, its biggest weekly fall for five months.
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2017, March, 10, 18:55:00
OIL PRICES: $55 - $57
EIA forecasts Brent crude oil prices to average $55/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to average about $1/b less than Brent prices in the forecast. NYMEX contract values for May 2017 delivery traded during the five-day period ending March 2 suggest that a range of $46/b to $63/b encompasses the market expectation for WTI prices in May 2017 at the 95% confidence level.
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2017, March, 10, 18:50:00
UAE CUTS OIL PRODUCTION 139,000 BPD
The United Arab Emirates (UAE) will comply fully with its OPEC commitment to reduce oil production by more than 139,000 barrels per day (bpd) in March and April, the Gulf OPEC member's energy minister Suhail said on Thursday.
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2017, March, 10, 18:45:00
U.S. OIL EXPORTS UP
US Census Bureau data showed US crude exports rising by 304,000 b/d to 746,000 b/d in January, which was followed by a report by the US Energy Information Administration showing US crude exports averaging 900,000 b/d in the four weeks ending February 24.
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2017, March, 10, 18:40:00
U.S. DEFICIT $48.5 BLN
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $48.5 billion in January, up $4.2 billion from $44.3 billion in December, revised. January exports were $192.1 billion, $1.1 billion more than December exports. January imports were $240.6 billion, $5.3 billion more than December imports.
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2017, March, 10, 18:35:00
INSUFFICIENT OIL INVESTMENT
A significant, years-long oil supply crunch may be approaching due to insufficient investment in exploration and production, Hess CEO John Hess said Monday at IHS CERAWeek.
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2017, March, 7, 18:55:00
OIL PRICES: $56 AND MORE
Brent crude LCOc1 was down 3 cents at $55.98 a barrel as of 1020 GMT. U.S. West Texas Intermediate crude CLc1 was flat at $53.20. Both benchmarks have traded in negative and positive territory since the start of Asia trading.
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2017, March, 7, 18:40:00
NORWAY IS BETTER
The Norwegian economy is slowly picking up after a two-year slowdown in its top industry, oil production, due to a halving of crude prices since mid-2014. In recent months, crude prices have risen and stabilised at around $55 per barrel.
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2017, March, 7, 18:30:00
WORLDWIDE RIG COUNT UP 109
The worldwide rig count for February 2017 was 2,027, up 109 from the 1,918 counted in January 2017, and up 266 from the 1,761 counted in February 2016.
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2017, March, 6, 19:15:00
OIL PRICES: MORE ZHAN $55
Brent crude futures dropped 47 cents, or 0.8 percent, to $55.43 a barrel as of 0749 GMT after settling 1.5 percent higher in the previous session.
U.S. West Texas Intermediate (WTI) crude futures fell 47 cents, or 0.9 percent, to $52.86 a barrel after closing the previous session up 1.4 percent.