2016
![2016](/cache/2016/07/OIL-414.b78f694e.jpg)
2016, July, 20, 14:43:00
OIL PRICES DOWN TO $45.24
The NYMEX crude oil contract for August fell 71¢ to settle at $45.24/bbl on July 18. The September contract also dropped 71¢ to close at $45.94/bbl.
The gas futures contract for August fell a rounded 3¢ to $2.72/MMbtu. Cash gas prices went the other direction. The Henry Hub gas price was $2.81/MMbtu, up 14¢ on July 18.
![2016](/cache/2016/07/USA-306.9b590432.jpg)
2016, July, 19, 14:24:00
OIL PRICES UP TO $45.95
The crude oil contract for August gained 27¢ to settle at $45.95/bbl on the New York Mercantile Exchange on July 15. The September contract gained 23¢ to close at $46.65/bbl.
The natural gas contract for August was up a rounded 3¢ to a rounded $2.76/MMbtu. The Henry Hub gas price was $2.67/MMbtu, down 10¢ on July 15.
![2016](/cache/2016/07/USA-307.9b590432.jpg)
2016, July, 19, 14:12:00
U.S. OIL COMPANIES UPDOWN
First-quarter 2016 financial results from U.S. onshore producers reveal an improving balance between capital expenditure and operating cash flow. Although operating cash flow was the lowest in any quarter in the past five years, larger reductions to capital expenditure brought these companies closest to self-finance (when capital investment can be paid for entirely from operating cash flow). With crude oil prices such as the global benchmark Brent price averaging over $45 per barrel in the second quarter—a 34% increase from first-quarter 2016—cash flow may improve and help offset declining revenue from lower production.
![2016](/cache/2016/07/USA-303.f61c9481.jpg)
2016, July, 19, 12:26:00
U.S. OIL PRODUCTION DOWN
U.S. oil production down 99 tbd, gas production down 417 mcfd.
![2016](/cache/2016/07/OIL-413.bc1224d1.jpg)
2016, July, 16, 13:54:00
OIL PRICES UP TO $45.68
The crude oil contract for August on the New York Mercantile Exchange gained 93¢ on July 14 to settle at $45.68/bbl. The September contract climbed 98¢ to $46.42/bbl.
The natural gas contract for August was down 1¢ to a rounded $2.73/MMbtu. The Henry Hub gas price was $2.77/MMbtu, down 4¢ on July 14.
![2016](/cache/2016/07/OIL-412.68c0b0c8.jpg)
2016, July, 15, 13:38:00
OIL PRICES DOWN TO $44.75
The crude oil contract for August on the New York Mercantile Exchange plunged $2.05 on July 13 to settle at $44.75/bbl. The September contract dipped $2.13 to $45.44/bbl.
The natural gas contract for August was up a fraction of a cent to $2.74/MMbtu. The Henry Hub gas price was $2.81/MMbtu, up 6¢ on July 13.
![2016](/cache/2017/02/BRITAIN-25.5b8c5923.jpg)
2016, July, 14, 19:01:00
BRITAIN'S RENEWABLE: 15%
Britain is on track to meet its 2020 European renewable energy target and its commitment will not be affected by the country's vote to leave the EU, government officials said.
![2016](/cache/2016/07/OPEC-32.a98d3bde.jpg)
2016, July, 14, 11:20:00
OPEC UP
Production from the Organization of Petroleum Exporting Countries climbed to an eight-year high last month, boosted by the re-admission of Gabon, which swelled the number of members to 14, the IEA said. The group’s crude output rose 400,000 barrels a day to 33.21 million a day as Saudi Arabia boosted production to meet peak domestic demand during the summer and as Iran continued its export recovery following the end of international sanctions in January.
![2016](/cache/2016/07/OIL-395.41407d32.jpg)
2016, July, 13, 14:28:00
2017: OIL MARKET BALANCE
Global consumption of petroleum and other liquid fuels is estimated to have grown by 1.4 million b/d in 2015. EIA expects global consumption of petroleum and other liquid fuels to increase by 1.4 million b/d in 2016 and by 1.5 million b/d in 2017, mostly driven by growth in countries outside of the Organization for Economic Cooperation and Development (OECD). Non-OECD consumption growth was an estimated 1.0 million b/d in 2015, and it is expected to be 1.3 million b/d in 2016 and 1.5 million b/d in 2017.
![2016](/cache/2016/07/OIL-394.67ef3d12.jpg)
2016, July, 13, 13:43:00
2017: RISING OIL DEMAND
Oil prices have recovered more than 70 percent from the 12-year low reached earlier this year as OPEC’s strategy to pressure rivals with lower prices slowly succeeds in eliminating a surplus. Output in the U.S. has retreated to a two-year low as the boom in shale oil production faltered, while Saudi Arabia told OPEC it raised output last month close to a record.