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2016-11-02 18:40:00

U.S. OIL WILL DOWN 800 TBD

U.S. OIL WILL DOWN 800 TBD

 

BRENT OIL PRICES DEC 2011 - NOV 2016

 

WTI OIL PRICES DEC 2011 - NOV 2016

 

USA OIL PRODUCTION 2014 - 2017

 

BOE wrote, U.S. crude production is set to decline this year as the Organization of Petroleum Exporting Countries struggles to put a dent in global oversupply, according to the head of the U.S. Energy Information Administration.
Output in the U.S. will fall 800,000 barrels a day this year, Adam Sieminski, administrator for the EIA, said in an interview in Riyadh. That would be the first drop since 2008, data compiled by Bloomberg show. OPEC's attempts to carry out an agreement on limiting production are still "very much up in the air," he said.

"The U.S. has always felt markets would do a better job at re-balancing supply and demand than organizational activities," Sieminski said. "There is potentially a role for OPEC, but I think markets ultimately are the key to how supply and demand rebalance."

Brent slid from more than $115 a barrel in June 2014 to less than $28 in January this year. Prices tumbled after OPEC, led by Saudi Arabia, adopted a policy of pumping without limits to try to squeeze higher-cost supply, including some U.S. shale output, from the market. U.S. crude production averaged 8.5 million barrels a day in mid October, compared with 9.2 million a day at the end of last year, according to EIA data.

Shale drillers have shown remarkable "tenacity" in holding up output in the face of falling prices, Sieminski said. Crude at $50 to $60 a barrel would probably spur an increase in their production, he said. Brent crude was trading at $49.05 a barrel by 4:33 p.m. in Dubai on Tuesday.

OPEC agreed in Algiers in September to the outline of a deal to limit production to a range of 32.5 million to 33 million barrels a day. Iran, Iraq, Libya and Nigeria are all seeking to be excluded from the deal. All of OPEC's 14 members as well as other producers such as Russia are committed to finalizing an agreement, Secretary General Mohammed Barkindo said Monday in a Bloomberg Television interview.

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Earlier: 

U.S. RIGS UP 4 

AMERICA'S HEALTH PRICE: $50 

U.S. OIL PRODUCTION DOWN 8.9% 

U.S. OIL IMPORTS UP BY 528 TBD 

БЕССМЫСЛЕННЫЕ США

 

 

Tags: U.S.OIL, PRODUCTION

Chronicle:

U.S. OIL WILL DOWN 800 TBD
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

U.S. OIL WILL DOWN 800 TBD
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

U.S. OIL WILL DOWN 800 TBD
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

U.S. OIL WILL DOWN 800 TBD
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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