2019-01-14 11:45:00
OIL NEED INVESTMENT
PLATTS - Oil prices averaging $70/b in 2018 underscore the need for more investment in new supply, UAE energy minister Suhail al-Mazrouei told delegates at the Atlantic Council's Global Energy Forum in Abu Dhabi on Saturday.
"[2018] we see an average of $70 for Brent, from $53, so it's a remarkable year for investors," said Al-Mazrouei. "We are almost at the beginning of a crisis that could happen in the next two years if we did not plan for it. In the energy sector we are on top of it making sure the investments are coming."
Discussions are ongoing between OPEC and Russia to formalize the so called OPEC+ consortium as a forum, Al-Mazrouei told journalists on the sidelines of the conference.
"[The formalization] is ongoing, it's with the drafting committee but I think there is a misunderstanding: it's not going to be an organization like OPEC," he said. "This is some sort of forum that we will structure what we have done in the past two years in a group that is going to meet, deciding the frequency of the meetings, but it's not going to be an organization."
OPEC met in December to decide on a strategy to balance the oil market. The OPEC and non-OPEC groups agreed to cut a total of 1.2 million b/d in crude production to claw back prices.
Oil markets have staged a comeback since crude plummeted at the end of 2018 to fall below $50/b. Brent crude has rebounded 20% since last month to break through $61/b on Friday as OPEC's cuts kicked in. The group's production in December fell 630,000 b/d month on month, according to a S&P Global Platts survey of industry officials, analysts and shipping data.
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Earlier:
2019, January, 11, 11:55:00
OIL PRICE: NEAR $62REUTERS - International Brent crude futures LCOc1 were at $61.62 per barrel at 0749 GMT, down 6 cents, or 0.1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were 4 cents above their last settlement, at $52.63 per barrel.
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2019, January, 9, 11:15:00
OPEC OIL PRODUCTION DOWN 630 TBDPLATTS - OPEC crude production in December tumbled 630,000 b/d month on month, an S&P Global Platts survey of industry officials, analysts and shipping data showed Tuesday, but the organization still has much more cutting to do to reach its new quotas for 2019.
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2019, January, 4, 11:55:00
OIL PRICE LEVEL: $60 - 70MEOG - A $60-70 per barrel oil price level appears adequate to incentivise sufficient long-term supply. The cost to develop both tight oil resources and conventional upstream oil projects has declined significantly since the oil price collapse of 2015-16.
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2018, December, 26, 07:40:00
ОПЕК + РОССИЯ: МИНУС 2.5%МИНЭНЕРГО РОССИИ - Принято консолидированное решение о совместных действиях с коллегами из ОПЕК и не ОПЕК по сокращению добычи на 2,5% для стран ОПЕК и 2% для стран не ОПЕК.
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2018, December, 14, 09:10:00
2019: WORLD OIL DEMAND UP BY 1.29 MBDOPEC - In 2019, world oil demand is anticipated to rise by 1.29 mb/d. As a result, total world oil demand is anticipated to reach 100.08 mb/d. Oil demand growth is projected to originate from Other Asia, led by India, followed China, then OECD Americas. OECD countries will rise by 0.25 mb/d, while non-OECD countries will drive oil demand growth by adding an estimated 1.04 mb/d in 2019.
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2018, December, 12, 09:05:00
АЛЕКСАНДР НОВАК В ИНТЕРВЬЮ CNN: “НАШИ РЕШЕНИЯ ОСНОВАНЫ НА ФУНДАМЕНТАЛЬНЫХ ФАКТОРАХ РЫНКА”МИНЭНЕРГО РОССИИ - Как отметил Александр Новак, принятое решение о снижении суммарной добычи на 1,2 млн барр./сутки отражает ожидания рынка накануне встречи стран ОПЕК и не ОПЕК. As noted by Alexander Novak, the decision to reduce the total production by 1.2 million barrels per day reflects the market expectations on the eve of the meeting of OPEC and non-OPEC countries. |
2018, December, 10, 08:45:00
ALEXANDER NOVAK: “THE COOPERATION OF OPEC COUNTRIES + MUST CONTINUE”Министр энергетики Российской Федерации Александр Новак в интервью телеканалу “Bloomberg”, которое состоялось по окончании 5-й Министерской встречи стран ОПЕК и не входящих в ОПЕК государств, рассказал о принятых решениях и их влиянии на рынок, разговоре с Министром нефти Ирана Бижаном Намдар Зангане накануне заседания, а также поделился прогнозами цен на нефть в будущем. |
