Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2018-05-25 10:55:00

OIL PRICE: ABOVE $78

OIL PRICE: ABOVE $78

REUTERS -  Oil prices eased on Friday as Russia hinted it may gradually increase output, after having withheld supplies in concert with producer cartel OPEC since 2017.

Brent crude futures LCOc1 were at $78.63 per barrel at 0534 GMT, down 16 cents from their last close, and more than 2.2 percent below the $80.50 multi-year high they reached on May 17. Brent broke through $80 for the first time in more than three years earlier in May.

U.S. West Texas Intermediate (WTI) crude futures were at $70.60 a barrel, down 11 cents from their last settlement.

"Oil prices are now starting to drift a little," said Greg McKenna, chief market strategist at futures brokerage AxiTrader, adding that this was due to OPEC's and Russia's "moves toward an increase in production" at a meeting scheduled for next month.

The Middle East dominated Organization of the Petroleum Exporting Countries (OPEC) as well as a group of non-OPEC producers led by Russia started withholding output in 2017 to tighten the market and prop up prices.

But Russia, in particular, has been floating a potential end to the production cuts, with energy minister Alexander Novak saying on Thursday that restrictions on oil production could be eased "softly" if OPEC and non-OPEC countries see the oil market balancing in June.

"The Russians have always struck me as production cut tourists keen to get off the boat and crank up production as soon as inventories were stabilized and prices once again elevated ... That possibility is top of the mind for traders and as a result oil prices are slipping," McKenna said.

Still, the downside risk to oil prices could be limited by geopolitical factors.

"Oil prices, however, look primed to withstand the slip as heightened geopolitical risks from the Middle East, (and) raised prospects of a supply squeeze in Venezuela and Iran permeates global market sentiment," Benjamin Lu, an investment analyst at Phillip Futures in Singapore said in a note to clients.

HIGHER PRICES COME AT A COST

While Russia and OPEC benefit from higher oil prices, which have risen by almost 20 percent since the end of last year, their voluntary output cuts have opened the door to other producers to ramp up output and gain market share.

U.S. crude oil production has risen by more than a quarter in the last two years, to 10.73 million barrels per day (bpd). Only Russia produces more, at around 11 million bpd.

Output by producers like the United States, Canada or Brazil which are not bound by the OPEC/Russian led agreement to cut, will likely rise further as higher crude prices improve their profitability.

"With oil prices rising more than costs, average industry profitability has turned positive this year," Bernstein Energy said in a note this week, adding that the 50 largest listed oil companies globally "need $47 per barrel oil prices to break even in aggregate".

-----

Earlier: 

Prices
2018, May, 23, 10:50:00

OIL PRICE: ABOVE $79 ANEW

REUTERS - Brent LCOc1 futures fell 43 cents, or 0.5 percent, to $79.14 a barrel by 0218 GMT, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. U.S. West Texas Intermediate (WTI) crude CLc1 futures eased 25 cents, or 0.4 percent, to $71.95 a barrel, having climbed on Tuesday to $72.83 a barrel, the highest since November 2014.

Prices
2018, May, 23, 10:45:00

HARD OIL MARKET

FT - Most oil majors can now cover dividends and capital expenditure at prices around $50 per barrel, meaning that, at $80, they make a healthy surplus.

 

Prices
2018, May, 23, 10:30:00

RUSSIA'S OIL BENEFIT

BLOOMBERG - Oil has touched a level above $80 a barrel for the first time since November 2014. OPEC’s inventory target for output cuts has been met.

 

 

Prices
2018, May, 21, 11:10:00

OIL PRICE: ABOVE $79 YET

REUTERS - Brent crude futures were at $79.06 per barrel at 0650 GMT, up 55 cents, or 0.7 percent, from their last close. Brent broke through $80 for the first time since November 2014 last week. U.S. West Texas Intermediate (WTI) crude futures were at $71.71 a barrel, up 43 cents, or 0.6 percent, from their last settlement.

Prices
2018, May, 21, 11:05:00

ADEQUATE OIL SUPPLIES

REUTERS - Saudi Arabia said on Friday it is consulting other oil producers in and outside OPEC to ensure the world has adequate supplies to support economic growth after prices hit $80 a barrel for the first time since 2014.

Prices
2018, May, 18, 09:20:00

OIL PRICE: ABOVE $79

REUTERS - Brent crude futures LCOc1 were at $79.57 per barrel at 0310 GMT, up 27 cents, or 0.3 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate (WTI) crude futures were at $71.62 a barrel, up 13 cents, or 0.2 percent, from their last settlement.

Prices
2018, May, 18, 09:10:00

TIGHT MARKET BALANCE

IEA - Because of rising prices, we lowered our estimate for 2018 global oil demand growth by 40 kb/d to 1.4 mb/d, and we increased our expectation for US oil production growth this year by 120 kb/d. 

Tags: OIL, PRICE, BRENT, WTI, URALS, OPEC, НЕФТЬ, ЦЕНА

Chronicle:

OIL PRICE: ABOVE $78
2018, November, 12, 12:00:00

TOTAL'S INVESTMENT TO ANGOLA: $16 BLN

THE LOCAL FRANCE - Angola and French oil giant Total formally launched a major new offshore oil project Saturday to aid the country's economy that plunged into crisis following oil price dips in 2014.

OIL PRICE: ABOVE $78
2018, November, 12, 11:55:00

CHINA, WESTINGHOUSE NUCLEAR

WNN - China's State Power Investment Corporation (SPIC) says it has signed a memorandum of understanding (MoU) for "global cooperation" in nuclear energy with Westinghouse Electric Company of the USA.

OIL PRICE: ABOVE $78
2018, November, 12, 11:50:00

SMALL BRITAIN'S NUCLEAR

WNN - Advanced Nuclear Technologies - otherwise known as small nuclear or small reactor technologies - encompass a wide range of nuclear reactor technologies under development, BEIS noted. "The common attributes that these technologies share is that they are smaller than conventional nuclear power station reactors and are designed so that much of the plant can be fabricated in a factory environment and transported to site, reducing construction risk and making them less capital-intensive," it said.

OIL PRICE: ABOVE $78
2018, November, 12, 11:45:00

POLAND, USA NUCLEAR

WNN - Poland and the USA have signed a Joint Declaration of Energy Security, which emphasises the expansion of their cooperation in a variety of areas, including civil nuclear energy. The document was signed in Warsaw yesterday by Polish Energy Minister Krzysztof Tchórzewski and US Secretary of Energy Rick Perry.

All Publications »