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2017-02-28 19:00:00

OIL PRICES: $54

OIL PRICES: $54

BRENT OIL PRICES MARCH 2016 - MARCH 2017

WTI OIL PRICES MARCH 2016 - MARCH 2017

OGJLight, sweet crude oil prices for April dropped modestly Feb. 24 but still settled at about $54/bbl on Feb. 24 on the New York market despite a climbing US rig count. The US oil futures benchmark has traded at $50-55/bbl for weeks.

Meanwhile, Brent crude oil prices on the London market have been unable to break above the high $50s. Analysts said a steady increase in US oil production and rising number of US oil rigs working is putting a damper on any higher oil prices.

Prices gained support during 2017 after the Organization of Petroleum Exporting Countries started cutting production in January. Some non-OPEC producers also agreed to cut production.

The US drilling rig count increased 3 units during the week ended Feb. 24 following 5 weeks of double-digit gains, Baker Hughes Inc. said on Feb. 24. The overall US count stood at 754.

US oil-directed rigs gained 5 units to 602. Rigs targeting natural gas dropped 2 units to 151, up 70 since Aug. 26, 2016. One rig considered unclassified is actively drilling.

Energy prices

The crude oil contract for April delivery on the New York Mercantile Exchange dropped 46¢ on Feb. 24 to $53.99/bbl. The May contract was down 44¢ to $54.32/bbl.

The natural gas price for March settled at a rounded $2.63/MMbtu, up 1¢. The cash gas price at the Henry Hub in Cushing, Okla., closed at $2.49/MMbtu, down 11¢.

Heating oil for March declined nearly 2¢ to a rounded $1.64/gal. Reformulated gasoline stock for oxygenate blending for March fell 1¢ to a rounded $1.52/gal.

The Brent crude contract for April on London's ICE was down 59¢ to $55.99/bbl. The Brent May contract dropped 51¢ to $56.31/bbl. Gas oil for March closed at $494.50/tonne, down $5.50.

The average price for OPEC's basket of benchmark crudes on Feb. 24 was $53.61/bbl, down 34¢.

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Earlier: 

РЕШЕНИЕ НА 500 МЛРД. $ 

GLOBAL OIL PRODUCTION DOWN 

OIL PRICES: ABOVE $56 NOW 

OIL PRICES: $55 - $57 

ПОЧТИ СПРАВЕДЛИВАЯ ЦЕНА: $55

 

 

Tags: OIL, PRICES, BRENT, WTI
OIL PRICES: $54 February, 18, 12:30:00

OIL PRICE: ABOVE $66

OIL PRICES: $54 February, 18, 12:25:00

OIL DEMAND GROWTH 1.4 MBD

OIL PRICES: $54 February, 18, 12:20:00

BRENT OIL: UNDERVALUED

OIL PRICES: $54 February, 18, 12:15:00

U.S. OIL PRODUCTION 11.9 MBD AGAIN

OIL PRICES: $54 February, 18, 12:10:00

BENEFIT FOR RUSSIA

OIL PRICES: $54 February, 18, 12:05:00

LATIN AMERICA ENERGY FORUM FEBRUARY 2019

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Chronicle:

OIL PRICES: $54
2019, February, 18, 12:00:00

БЫСТРАЯ СИЛА СИБИРИ

ГАЗПРОМ - Как отметил по итогам переговоров Алексей Миллер, «строительство газопровода „Сила Сибири“ идет с опережением графика, „Газпром“ начнет поставки газа в Китай раньше намеченного срока — уже с 1 декабря 2019 года».

OIL PRICES: $54
2019, February, 18, 11:55:00

U.S. TIGHT OIL PRODUCTION 7 MBD

U.S. EIA - In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.

OIL PRICES: $54
2019, February, 18, 11:50:00

U.S. SHALE NEED INVESTMENT

REUTERS - On Thursday, the regional price of crude was at a $1.10 a barrel premium to U.S. crude futures, the strongest in more than a year as companies including Parsley Energy, Pioneer Natural Resources, Goodrich Petroleum Corp have pared their exploration budgets, easing the constraints.

OIL PRICES: $54
2019, February, 18, 11:45:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.6%

U.S. FRB - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December.

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