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2014-05-16 19:40:00

USA: DEMAND WILL ABSORB

USA: DEMAND WILL ABSORB

A possible move by the U.S. to relax its federal laws banning crude-oil exports won't cause a supply glut as demand growth will absorb any additional crude, the oil minister of top oil exporter Saudi Arabia said Thursday.

"We will be very happy to see different producers increasing their production and going into the international market," Ali al-Naimi told reporters on the sidelines of an energy meeting in Moscow. "Remember the world consumes every year over 30 billion barrels of oil and somebody has to replace that so the more oil produced the more is replaced."

Top Obama administration officials are considering…

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Tags: USA, OIL

Chronicle:

USA: DEMAND WILL ABSORB
2019, April, 19, 09:15:00

S.KOREA RENEWABLE ENERGY

South Korea's economy has been pushing to shed its heavy reliance on coal and nuclear power, with the latest target coming on top of a 2017 plan to increase the amount of renewables in its energy mix to 20 percent by 2030.

USA: DEMAND WILL ABSORB
2019, April, 19, 09:10:00

UAE GDP WILL UP 4.7%

The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.

USA: DEMAND WILL ABSORB
2019, April, 19, 09:05:00

U.S. TRADE DEFICIT $49.4 BLN

the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January,

USA: DEMAND WILL ABSORB
2019, April, 19, 09:00:00

U.S. RIGS DOWN 10 TO 1,012

BHGE - U.S. Rig Count is down 10 rigs from last week to 1,012, with oil rigs down 8 to 825, gas rigs down 2 to 187, and miscellaneous rigs unchanged at 0. Canada Rig Count unchanged from last week at 66, with oil rigs up 1 to 19 and gas rigs down 1 to 47.

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