All publications by tag «OIL»
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2017, January, 12, 18:30:00
IMPORTANT FOR RUSSIA
The end of the global commodity super-cycle, particularly the sharp drop in oil prices - Russia’s main export -caused the Russian economy to slip into recession, ushering in a period of difficult economic adjustment. Limited economic diversification and heavy reliance on oil have made Russia vulnerable to terms-of-trade shocks.
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2017, January, 11, 19:15:00
OIL PRICES: ABOVE $53 ANEW
Prices for Brent futures, the international benchmark for oil prices, were trading at $53.73 per barrel at 0508 GMT, up 9 cents from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $50.97 a barrel, up 15 cents.
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2017, January, 11, 19:10:00
OIL PRICES FORECAST: $53 - $56
Brent crude oil prices are forecast to average $53/b in 2017 and $56/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $1/b less than Brent in both 2017 and 2018.
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2017, January, 11, 19:05:00
URALS: $41.9
Средняя цена нефти марки Urals в 2016 году составила $41,9 за баррель.
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2017, January, 11, 19:00:00
OIL INVESTMENTS UP
Global capital spending by leading exploration and production companies will total $450bn in 2017, up 3 per cent compared to 2016 and ending two years of steep declines, according to Wood Mac forecasts published on Wednesday. Meanwhile, the number of final investment decisions by these 60 E&P companies — which range from large multinationals and independents to national oil groups — on new upstream projects will double to more than 20 in 2017, from nine last year.
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2017, January, 11, 18:55:00
OIL JOBS UP
Oil companies are starting to hire back workers as they add rigs to the shale patch in North America to take advantage of oil prices above $50 a barrel. After unprecedented spending cuts over the past two years, explorers are forecast to boost capital expenditures by 7 percent this year.
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2017, January, 11, 18:50:00
RUSSIA - OPEC ALLIANCE
Russia and 10 other non-OPEC nations joined forces with the Organization of Petroleum Exporting Countries on Dec. 10 to end a global glut that’s crashed oil prices and shaken energy-rich economies. The pact — the first between the two sides in 15 years — involves a reduction of 558,000 barrels a day from non-OPEC countries starting in January.
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2017, January, 11, 18:40:00
U.S. DECLINE'S END
“Today’s report shows evidence that the consistent decline in oil and natural gas drilling could be coming to an end,” said Hazem Arafa, director of API’s statistics department.
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2017, January, 11, 18:35:00
IRAQ PLANS 3.6 MBD
Iraq plans to raise crude exports from its southern port of Basra to an all-time high in February, keeping exports high even as OPEC production cuts take effect this month.
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2017, January, 9, 19:05:00
OIL PRICES: ABOVE $56 AFRESH
Brent crude futures LCOc1, the international benchmark for oil prices, were trading at $56.84 per barrel at 0535 GMT (00.35 a.m. ET), down 26 cents from their last close.
U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were trading at $53.70 per barrel, down 29 cents.