RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2017-05-04 18:45:00

OIL PRICES: ABOVE $48

ЦЕНА НЕФТИ: ВЫШЕ $48

BRENT OIL PRICE MAY 04 2017 

WTI OIL PRICE MAY 04 2017  

REUTERS, BLOOMBERG -  Oil slid more than 4 percent on Thursday, to its lowest since late November as investor worries about a growing global glut of crude erased most of the gains that followed last year's OPEC's output cut.

The slide worsened after OPEC delegates said their group and other producing countries were downplayed the chance of a bigger output when the producers meet on May 25, even though they said the output cuts were likely to be extended.

U.S. crude CLc1 fell $2.05 or 4.3 percent to $45.77, by 12:08 p.m. Brent was down $2.07, or 4.1 percent to $48.71.

“The market continues to hunt for a bottom," said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut. "We’ve dropped to a five month low.”

Late last year, the Organization of the Petroleum Exporting Countries (OPEC), together with other key producers such as Russia and Oman, announced that they would cut oil output for the first six months of this year to reduce a vast global overhang of unused crude.

The pledge to remove 1.8 million barrels per day from the market sparked a 25-percent rally in the price, pushing Brent crude to 18-month highs.

But despite the OPEC action, McGillian said, "We still have a near record overhang and signs of increasing production in areas of the world outside the producers that agreed to the cuts."

Crude output has surged in the United States, with increasing rig counts for the past 11 months.

U.S. government data on Wednesday showed crude stocks USOILC=ECI fell 930,000 barrels in the week to April 28, while analysts had been expecting a drop of 2.3 million barrels. Stocks have steadily declined for the last four weeks, but at 527.8 million barrels they are just 7 million barrels off a record high.

Russia's Energy Minister, Alexander Novak, said in written comments on Thursday that his country is inclined to extend.

But the market continues to question whether continuing the 1.8 million bpd cut will be sufficient to reduce the glut significantly.

"At some point, the market should recognize OPEC isn't the most important player in the market any more," said Commerzbank's Eugen Weinberg, "That is non-OPEC, and, above all, U.S. shale."

BRENT OIL PRICES MAY 2016 - MAY 2017 WTI OIL PRICES MAY 2016 - MAY 2017 BRENT OIL PRICES MAY 2012 - MAY 2017 WTI OIL PRICES MAT 2012 - MAY 2017 

-----

Earlier: 

SAUDI CUTS PRICES 

OIL PROJECTS CUTTING 

OIL PRICES: ABOVE $51 ANEW 

OIL PRICES: ABOVE $51 AGAIN 

OIL PRICES FORECAST: $55 - $60

 

 

Tags: OIL, PRICES, BRENT, WTI, ЦЕНА, НЕФТЬ
Chronicle:
ЦЕНА НЕФТИ: ВЫШЕ $48
2021, September, 22, 12:25:00
ENERGY TRANSITION TO CARBON NEUTRALITY AS A FACTOR OF UNPRECEDENTED ACCELERATION OF GLOBAL WARMING
The article reveals the reasons for the unprecedented acceleration of global warming, which was reported by the IPCC in the report "Climate Change 2021", offers proposals for their elimination, as well as for eliminating their consequences.
ЦЕНА НЕФТИ: ВЫШЕ $48
2021, September, 21, 13:10:00
OIL PRICE: NEAR $75
Brent gained 95 cents or 1.3% to $74.87 a barrel , WTI was up 91 cents or 1.3% at $71.20.
ЦЕНА НЕФТИ: ВЫШЕ $48
2021, September, 21, 13:05:00
ЭНЕРГЕТИЧЕСКОЕ ВЗАИМОДЕЙСТВИЕ РОССИИ, ТУРЦИИ
Энергетическое взаимодействие России и Турции поступательно развивается по всем направлениям энергетики, её опорным точками остаются вопросы развития поставок энергоресурсов - нефти и нефтепродуктов, а также природного газа по газопроводу “Турецкий поток”.
ЦЕНА НЕФТИ: ВЫШЕ $48
2021, September, 21, 13:00:00
ГЛОБАЛЬНЫЙ ЭНЕРГОПЕРЕХОД В РОССИИ
Правительство начинает подготовку плана адаптации российской экономики к глобальному энергопереходу – сокращению использования традиционных видов топлива на фоне активного развития альтернативной энергетики
ЦЕНА НЕФТИ: ВЫШЕ $48
2021, September, 21, 12:55:00
НОВАЯ ЭНЕРГЕТИКА РОССИИ
При актуализации генеральной схемы размещения объектов электроэнергетики Минэнерго руководствуется необходимостью сохранения баланса в структуре российской генерации, делает ставку на гидроэнергетику и атомные электростанции
ЦЕНА НЕФТИ: ВЫШЕ $48
2021, September, 21, 12:50:00
RUSSIAN GAS FOR TURKEY +153%
From January 1 through September 19, 2021, Gazprom delivered 20.3 billion cubic meters of gas to Turkey. This is an all-time high amount of gas for this period and an increase of 153 per cent (or 12.3 billion cubic meters) against 2020 (8 billion cubic meters).
ЦЕНА НЕФТИ: ВЫШЕ $48
2021, September, 21, 12:45:00
MORE RUSSIAN GAS
"Gazprom delivers natural gas to its customers in full accordance with existing contractual obligations, and does everything within its capabilities to meet additional requests,"
All Publications »