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2016-08-08 19:15:00

OIL PRICES: $40 - $50

OIL PRICES: $40 - $50

 

OIL PRICES JUL - AUG 2016

 

OIL PRICES SEP 2015 - AUG 2016

 

According to OGE, former Federal Reserve Chairman Alan Greenspan suggested that oil prices have probably bottomed out at about $40 per barrel after tumbling more than 20 percent in the past two months into a bear market.

"It's hard for me to imagine it going very much lower, but it could," he said Wednesday, according to the transcript of a conference call organized by Rock Creek Group, an investment advisory firm in Washington.

Greenspan sees oil trading in a range of about $40 to $50 a barrel over the next couple of years. A $50 price would be high enough to encourage new shale oil production in the U.S., he said.

Oil futures traded near $42 a barrel in New York on Thursday, down from a 2016 closing high of $51.23 on June 8.

Greenspan made the following additional points during the call:

China's economic system is "unsustainable" because the government effectively guarantees "everything" against loss. "They started going in the right direction" in trying to change that but "then they reversed course" in the face of political opposition, he said.

He was surprised by how strong automobile sales were last month, but he cautioned that there were limits on how far consumer spending could carry the economy while business investment was weak. "This is an unstable outlook," he said.

The U.S. federal government should be running a budget surplus, not a deficit, to build up funds to pay for retiring workers. The surplus should be 3 percent of gross domestic product or more, Greenspan said.

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Earlier: 

MAJORS DEBT: $138 BLN 

NEGATIVE RUSSIAN OIL 

OIL PRICE: $43.1 

PRICES: PROGRESS WILL BE SLOW 

URALS: $38.68

 

 

 

Tags: OIL, PRICES,

Chronicle:

OIL PRICES: $40 - $50
2018, September, 19, 13:43:00

ЦЕНА URALS: $74,45568

МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 августа по 14 сентября 2018 года составила $74,45568 за баррель, или $543,5 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 октября 2018 года повысится на $7,5 и составит $137,5 за тонну.

OIL PRICES: $40 - $50
2018, September, 19, 13:39:00

SAUDIS OIL PRODUCTION: 10.42 MBD

PLATTS - Saudi production has since risen to 10.42 million b/d in August, the country reported to OPEC in the organization's most recent monthly oil market report. Saudi Arabia's crude oil stocks, which have been declining steadily over the last three years, fell to 229.41 million barrels in July, down 11.4% since May 2017, the JODI data showed.

OIL PRICES: $40 - $50
2018, September, 19, 13:35:00

U.S. PRODUCTION: OIL + 79 TBD, GAS + 961 MCFD

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 79,000 b/d month-over-month in October from 7,515 to 7,594 thousand barrels/day , gas production to increase 961 million cubic feet/day from 72,127 to 73,088 million cubic feet/day .

OIL PRICES: $40 - $50
2018, September, 19, 13:30:00

U.S. - CHINA SANCTIONS: $60 BLN

REUTERS - Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.

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