MARKET WILL BE BALANCED
REUTERS - Russian Energy Minister Alexander Novak said on Tuesday that oil prices, which fell by more than a third this quarter, would become more stable in the first half of 2019.
The Organization of the Petroleum Exporting Countries (OPEC) and other large oil producers led by Russia agreed earlier this month to cut their combined crude output by 1.2 million barrels per day from January in order to stem the fall in oil prices.
"I think that during the first half, due to joint efforts, which were confirmed by the OPEC and non-OPEC countries this December, the situation will be more stable, more balanced," Novak said in an interview on Rossiya-24 TV.
Novak also said there were no proposals for an extraordinary meeting with OPEC, and he attributed the fall in oil prices to macroeconomic factors."Those are the fundamental factors: the decrease of demand in winter and, of course, the macro economy as we've been witnessing a decline in global economic activity at the end of the year and a fall on the stock market," he said.
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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».
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.
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.
U.S. FRB - Industrial production decreased 0.6 percent in January after rising 0.1 percent in December.