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2017-04-19 18:00:00

OIL PRICE: STILL ABOVE $54

OIL PRICE: STILL ABOVE $54

BRENT OIL PRICE APRIL 19 2017 

WTI OIL PRICE APRIL 19 2017

NATURAL GAS PRICE APRIL 19 2017

 

OGJ, BLOOMBERG - Crude oil prices on the New York and London markets declined on Apr. 17 following release of a US government report projecting further oil production gains.

The US Energy Information Administration's latest Drilling Productivity Report forecasts crude output from the seven major US onshore producing regions to increase 124,000 b/d month-over-month in May to average 5.193 million b/d .

The Permian is expected to rise 76,000 b/d during the month to 2.362 million b/d, while the neighboring Eagle Ford is projected to gain 39,000 b/d to 1.216 million b/d.

"The battle between the 'sheiks and the shale oil producers' is far from decided," Commerzbank analysts said in a research note. A pact among members of the Organization of Petroleum Exporting Countries and several major non-OPEC producers to rebalance the global oil market by collectively curbing output by 1.8 million b/d is set to expire at the end of June.

OPEC will evaluate whether or not to continue the agreement into the second half during a May 25 meeting in Vienna. If the deal is continued and inventories drop as a result, Citi analysts see oil prices moving "above $60/bbl by the second half of the year," according to a research note.

If the agreement isn't extended, prices could drop "precipitously lower," they said.

Energy prices

The crude oil contract for May delivery on the New York Mercantile Exchange fell 53¢ on Apr. 17 to close at $52.65/bbl. The June contract lost 49¢ to $53.11/bbl.

The natural gas price for May declined 6.4¢ to a rounded $3.16/MMbtu. The Henry Hub cash gas price closed Apr. 17 at $3.06/MMbtu, up 8¢.

Heating oil for May decreased 1.66¢ to a rounded $1.63/gal. Reformulated gasoline stock for oxygenate blending for May dropped 1.53¢ to a rounded $1.72/gal.

The Brent crude contract for June on London's ICE also declined 53¢, settling at $55.36/bbl. The July contract was down 49¢ to $55.88/bbl. The gas oil contract for May lost 25¢ at $497.75/tonne.

The average price for OPEC's basket of benchmark crudes on Apr. 17 was $52.94/bbl, down 43¢.

BRENT OIL PRICES APRIL 2016 - APRIL 2017

WTI OIL PRICES APRIL 2016 - APRIL 2017

NATURAL GAS PRICES APRIL 2016 - APRIL 2017

BRENT OIL PRICES APRIL 2012 - APRIL 2017

WTI OIL PRICES APRIL 2012 - APRIL 2017

NATURAL GAS PRICES APRIL 2012 - APRIL 2017

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Earlier: 

OIL PRICE: ABOVE $55 STILL 

ЦЕНА URALS: $50,04091 

OIL PRICE: ABOVE $55 YET 

IEA: OIL MARKET BALANCE

OIL PRICES: ABOVE $56 

 

Tags: OIL, PRICES, BRENT, WTI, OPEC

Chronicle:

OIL PRICE: STILL ABOVE $54
2018, October, 17, 10:05:00

U.S. IN EUROPE

REUTERS - The United States must not determine European energy policy or decide whether Germany buys Russian gas, a top German diplomat said on Tuesday.

OIL PRICE: STILL ABOVE $54
2018, October, 17, 10:00:00

TOTAL IN RUSSIA: THE LARGEST

FT - “Total has great ambition in this country, we want to be the largest foreign oil and gas player here,” the company’s chief executive Patrick Pouyanné said on Monday at the launch of a factory outside Moscow. 

OIL PRICE: STILL ABOVE $54
2018, October, 17, 09:55:00

PETROBRAS - CNPC COOPERATION

PLATTS - Petrobras is to form two joint venture companies with China National Petroleum Corp. (CNPC) to complete construction of a refinery and revitalize four mature fields in the offshore Campos Basin, the state-owned Brazilian company said

OIL PRICE: STILL ABOVE $54
2018, October, 17, 09:50:00

NORWAY'S DEFENCE

BLOOMBERG - The wealth fund’s initial case had focused on limiting Norway’s exposure to a drop in oil prices, given its status as western Europe’s biggest petroleum producer. When the proposal was first made last year, it rocked markets, and drew responses from a number of major investors.

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