2017-04-03 19:00:00
MAY OIL PRICES: ABOVE $50
OGJ, BLOOMBERG - The light, sweet crude oil contract for May settled above $50/bbl on the New York market Mar. 30 while the May Brent contract settled above $52.90/bbl in London. Prices edged lower on both markets on Mar. 31.
Analysts attributed price gains earlier in the week to a combination of reduced production in Libya and lower US distillates and gasoline inventories.
The oil-price rebound started with reports that militia had tampered with a pipeline from Sharara, an oil field in western Libya, to an export terminal, shutting in production. Libya's crude production dropped to about 500,000 b/d—the lowest since September 2016.
Libya was exempted from production-cut targets by the Organization of Petroleum Exporting Countries and other major producers. The total target is 1.8 million b/d with OPEC members agreeing to account for 1.2 million b/d of that.
Iraq has cut its oil production by more than 300,000 b/d. Iraq's state oil marketing company SOMO reported that Iraq's average production in March was 4.464 million b/d. Iraq's compliance to OPEC's cuts is 90%, SOMO Director Falah al-Amiri told Reuters.
Energy prices
The crude oil contract for May delivery on the New York Mercantile Exchange rose 89¢ on Mar. 30 to close at $50.35/bbl while the June contract gained 78¢ to $50.78/bbl.
The natural gas price for May dropped 40¢ to a rounded $3.19/MMbtu. The Henry Hub cash gas price closed Mar. 30 at $3.07/MMbtu, up 4¢.
Heating oil for April was up nearly 1.6¢ to a rounded $1.56/gal. Reformulated gasoline stock for oxygenate blending for April climbed almost 1¢ to a rounded $1.68/gal.
The Brent crude contract for May on London's ICE gained 54¢ to $52.96/bbl. The June contract was up by 59¢ to $53.13/bbl. The gas oil contract settled at $470/tonne on Mar. 30, up $6.25.
The average price for OPEC's basket of benchmark crudes on Mar. 30 was $50.20/bbl, up 66¢.
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Earlier:
РОССИЯ ВЫПОЛНЯЕТ СВОИ ОБЯЗАТЕЛЬСТВА
Chronicle:
2022, August, 9, 14:14:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
2022, August, 9, 14:13:00
2022 SAUDI PIPELINES INTERNATIONAL CONFERENCE & EXIBITIONS
Eventat Co (a Saudi local company) is hosting the first-ever “2022 Saudi Pipelines International Conference & Exhibitions” from 4-6 October, 2022 at the Dhahran Expo, Dammam (Eastern Province), Kingdom of Saudi Arabia.
The three-day conference and exhibition are dedicated to bringing together over “50+ Regional/International speakers, 100+ Sponsors/Exhibitors, 1000+ Delegates and 3000+ Visitors” from around the globe who carry significant interest in enhancing the pipelines lifecycle for the current and future.
2022, August, 9, 14:12:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023
Link to the Congress website: https://bit.ly/3tXVmr7
2022, August, 9, 14:10:00
RUSSIA FOR ITER FUSION
The 25th batch of Russian electrical equipment was successfully delivered to the construction site of the international thermonuclear experimental reactor Iter in France,
2022, August, 8, 12:50:00
OIL PRICE: BRENT ABOVE $94, WTI ABOVE $88
Brent were down 51 cents, or 0.5%, at $94.41 a barrel, WTI was at $88.58 a barrel, down 43 cents, or 0.5%.
2022, August, 8, 12:45:00
OPEC OIL PRICE: $100.01
The price of OPEC basket of thirteen crudes stood at $100.01 a barrel
2022, August, 8, 12:40:00
РАЗВИТИЕ ЭНЕРГЕТИКИ РОССИИ, ТУРЦИИ
Особое место в двустороннем взаимодействии занимает сфера энергетики: успешно функционируют газопроводы «Турецкий поток» и «Голубой поток», продолжается строительство первой турецкой АЭС «Аккую».