Средняя цена на нефть Urals за период мониторинга с 15 декабря 2016 года по 14 января 2017 года составила $52,53 за баррель, или $383,5 за тонну.
Global oil prices will witness "much more volatility" in 2017 even though markets may rebalance in the first half of the year if output cuts pledged by producers are implemented.
U.S. Rig Count is up 9 rigs from last year's count of 650, with oil rigs up 7, gas rigs up 1, and miscellaneous rigs up 1. Canadian Rig Count is up 88 rigs from last year's count of 227, with oil rigs up 60, gas rigs up 27, and miscellaneous rigs up 1.
Consumption is expected to rise 7-8% this year, outpacing China's demand growth for the third consecutive year.
For the year, the world's third biggest oil consumer bought about 473,000 barrels per day (bpd) of oil from Iran to feed expanding refining capacity, up from 208,300 bpd in 2015, the data showed.
India and Japan should co-operate on long term contracts for LNG with a defined cost of energy which would provide a stabilizing factor for the renewable energy thrust that India is currently giving, Indian minister for power, coal, new & renewable energy and mines, Piyush Goyal said January 11 on the side-lines of the seventh India-Japan Energy Forum in New Delhi.
The world could run short of oil by 2020 due to the recent sharp global downturn in upstream investment, Saudi Energy Minister Khalid al-Falih said Thursday.
Suhail Al Mazrouei said on Wednesday that Opec and non-Opec producers who have agreed to restrict their output over the next six months need to demonstrate that they are being implemented in order for their initiative to stabilise oil prices.
SHARES of China National Petroleum Corp and Sinopec rebounded during the week on reforms that are set to transform the two oil and gas giants into more competitive and market-focused entities.
For every one dollar reduction in the price of oil, Russia suffers a staggering two billion dollar loss in its revenue. On top of the economic sanctions slapped on Russia following the annexation of Crimea, one may consider the record Russian oil production of 11.247 mbpd nothing short of a miracle.