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2018-09-14 12:40:00

IEA: OIL PRICES COULD RISE

IEA: OIL PRICES COULD RISE

IEA - The price of Brent crude oil fell close to $70/bbl and is now flirting with $80/bbl. Two reasons for the swing are that Venezuela’s production decline continues, and we are approaching 4 November when US sanctions against Iran’s oil exports are implemented. In Venezuela, production fell in August to 1.24 mb/d and, if the recent rate of decline continues, it could be only 1 mb/d at the end of the year. Evidence provided by tanker tracking data suggests that Iran’s exports have already fallen significantly but we must wait to see if the 500 kb/d of reductions seen so far will grow. (See 

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Tags: IEA, OIL, PRICES
Chronicle:
IEA: OIL PRICES COULD RISE
2019, June, 14, 10:45:00
21ST AFRICA ENERGY FORUM | 11-14TH JUNE | PORTUGAL
The Africa Energy Forum (AEF) is the global investment meeting for Africa’s power, energy, infrastructure and industrial sectors.
IEA: OIL PRICES COULD RISE
2019, June, 13, 16:50:00
OIL PRICE: NOT ABOVE $63 ANEW
Brent crude futures were up $1.91, or 3.18%, at $61.88 a barrel by 1039 GMT, having risen as much as 4.45% to $62.64. U.S. West Texas Intermediate crude futures were up $1.42, or 2.78%, at $52.56 a barrel. WTI earlier rose as much as 3.85% to $53.11.
IEA: OIL PRICES COULD RISE
2019, June, 13, 16:45:00
OPEC OIL PRODUCTION 30.09 MBD
In all, OPEC's 14 members pumped 30.09 million b/d in May, a 170,000 b/d fall from April and the lowest since February 2015, before Gabon, Equatorial Guinea and the Republic of Congo joined and Qatar was still a member,
IEA: OIL PRICES COULD RISE
2019, June, 13, 16:40:00
GLOBAL ENERGY DEMAND +2.9%
Primary energy consumption grew at a rate of 2.9% last year, almost double its 10-year average of 1.5% per year, and the fastest since 2010.
IEA: OIL PRICES COULD RISE
2019, June, 13, 16:35:00
OIL PRICES 2019-20: $67
Front-month Brent crude futures were at $62.56 at 0707 GMT, up 27 cents, or 0.4%, from Monday’s close. U.S. West Texas Intermediate (WTI) crude futures were at $53.75 per barrel, 49 cents, or 0.9%, above their last settlement.
IEA: OIL PRICES COULD RISE
2019, June, 13, 16:30:00
OPEC CAUTIOUS ACTIONS
Even so, OPEC said it would tread cautiously. The organization forecast that 2019 oil consumption will rise 1.14 million b/d year-on-year, a downward revision of 70,000 b/d from last month's report, as "significant downside risks from escalating trade disputes spilling over to global demand growth remain."
IEA: OIL PRICES COULD RISE
2019, June, 13, 16:25:00
SANCTIONS FOR NORD STREAM 2
Nord Stream 2, a 760-mile (1,225-km) pipeline project to ship gas from Russia under the Baltic Sea to Germany, would double the capacity of the existing Nord Stream pipeline and has divided the European Union.
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