April 2016
![April 2016](/cache/2016/04/OIL-246.66537cf4.jpg)
2016, April, 15, 21:45:00
PRICES WILL UP
The contango between futures prices in the fourth quarter of 2016 and the average of 2017 has shrunk from $3.75 per barrel in December to $2.50 at the end of February and just $1.65 in recent days.
![April 2016](/cache/2016/04/OIL-244.2eb42f42.jpg)
2016, April, 15, 21:40:00
2016: VERY UNCERTAIN PRICES
North Sea Brent crude oil prices averaged $38/barrel (b) in March, a $6/b increase from February. Both Brent and West Texas Intermediate (WTI) crude oil prices are forecast to average $35/b in 2016 and $41/b in 2017. However, the current values of futures and options contracts suggest high uncertainty in the price outlook.
![April 2016](/cache/2016/04/INDIA-16.0d770f34.jpg)
2016, April, 15, 21:35:00
RUSSIA OPENS INDIA
"Everybody is trying to get a big stake in India--it is the biggest growing market in Asia," said Amrita Sen, chief oil analyst at London-based consultancy Energy Aspects.
![April 2016](/cache/2016/04/RUSSIA-68.0360ff8e.jpg)
2016, April, 15, 21:30:00
RUSSIA SAVES BP
“We remain committed to our strategic investment in Rosneft,” Scott Dean, a company spokesman, said by e-mail, adding that BP complies with all relevant European and U.S. sanctions. “In the low oil-price environment, Rosneft continues to deliver solid operational and financial performance, demonstrating the resilience of its business model.”
![April 2016](/cache/2016/04/CHINA-46.a95f901a.jpg)
2016, April, 15, 21:25:00
CHINA'S OIL IMPORTS UP
The world’s biggest energy user increased inbound shipments to 91.1 million metric tons in the first three months of the year, data from the Beijing-based General Administration of Customs showed on Wednesday. That’s equivalent to about 7.34 million barrels a day, 6 percent higher than the previous quarter and 13 percent up from the same period last year. Imports last month fell about 4 percent from February’s record to 7.71 million barrels a day, the third-highest ever.
![April 2016](/cache/2016/04/LNG-49.571bb7fb.jpg)
2016, April, 15, 21:20:00
MAJORS WANT MORE
“Our goal is to sell LNG,” she said. “We’re happy to help local developers by investing in infrastructure if it helps the market grow.”
![April 2016](/cache/2016/04/USA-213.1af2bcad.jpg)
2016, April, 15, 21:15:00
U.S. LOSSES
Lenders including JPMorgan Chase & Co., Wells Fargo & Co. and Bank of America Corp. are setting aside more money to cover potential loan losses after crude prices fell 61 percent in less than two years.
![April 2016](/cache/2016/04/USA-211.ee750d4c.jpg)
2016, April, 15, 21:10:00
U.S. GAS DOWN
Gas output from the top seven shale deposits will fall by 1.1 percent to 45.93 billion cubic feet a day from April, the biggest percentage decline since March 2013. The retreat is led by the oil-rich Eagle Ford deposit in Texas and the Niobrara shale in Colorado and neighboring states, where gas is pumped as a byproduct of crude extraction.
![April 2016](/cache/2016/04/RUSSIA-64.128bc0da.png)
2016, April, 12, 20:40:00
БОЛЬШЕ РУССКОЙ НЕФТИ
В нефтяной отрасли, в прошлом году отмечался прирост добычи нефти и газового конденсата (+1,4 % по сравнению с 2014 г.), был установлен новый национальный рекорд по добыче – 534,1 млн тонн. Благодаря задействованным механизмам льготирования, выросла добыча в Восточной Сибири и на Дальнем Востоке – на 7,8% до 63,5 млн тонн, на континентальном шельфе – на 17,3% до 19 млн тонн, на месторождениях с трудноизвлекаемыми запасами – на 1,2% до 33 млн тонн.
![April 2016](/cache/2016/04/ROSNEFT-38.49ab1b96.jpg)
2016, April, 12, 20:35:00
ROSNEFT: NO LOW PRICES
“The oil price is growing. I think everyone is expecting the successful outcome of our work,” Mr Sechin said. “We will need higher price levels than $45 or even $50 a barrel.”