All publications by tag «BRENT»
Crude lost another 11 per cent this week amid continuing worries about a supply surplus as demand slows, with the Brent benchmark falling below $50 a barrel.
Crude oil markets continue to search for a bottom as prices declined again in December and the first week of January. The North Sea Brent front month futures price settled at $50.96/bbl on January 8, a decline of $21.58/bbl from December 1
The Availability and Price of Petroleum and Petroleum Products Produced in Countries Other Than Iran
Saudi Arabia and OPEC would find it “difficult, if not impossible” to give up market share by cutting crude production, the country’s oil minister said.
Crude prices surged from the lowest closing levels since May 2009 as comments from Saudi Arabia’s oil minister yesterday added to the most volatile market in three years.
Crude oil prices are poised to fall below half where they were six months ago, before producers begin dealing with a global glut.
Saudi Arabia, the world’s largest oil exporter, deepened the discount at which it sells crude to Asia and the U.S., underscoring for some market watchers the kingdom’s commitment to defending its market share amid the recent rout in oil prices.
Oil prices slid to the lowest point in more than five years Friday as worries about a global glut of oil continued to weigh on the market.
Gulf stock markets plunged on Sunday after OPEC's decision to keep crude output unchanged sent oil prices tumbling at the end of last week.
Shares in the world’s biggest energy groups have tumbled in a market rout as plunging oil prices put at risk billions of dollars of investment and jeopardised future supplies of crude.