RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-10-28 14:20:00

OIL PRICE: NOT ABOVE $62

OIL PRICE: NOT ABOVE $62

REUTERS - Oil prices fell on Monday after strong gains last week, as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices.

Brent crude was down 32 cents, or 0.‮‮5‬‬%, at $61.7‮‮0‬‬ a barrel by ‮‮0‬‬933 GMT, having gained more than 4% last week, its best weekly gain since Sept. 20.

West Texas Intermediate (WTI) crude was down 33 cents, or 0.6%, at $56.33 a barrel, after rising more than 5% last week, also the biggest weekly increase since Sept. 20.

Profits at Chinese industrial companies fell for the second straight month in September as producer prices continued their slide, highlighting the impact of a slowing economy and protracted U.S. trade war on corporate balance sheets.

Still, traders were optimistic after the U.S. Trade Representative's office and China's Commerce Ministry said on Friday that the two countries were "close to finalizing" some parts of a trade agreement.

"Looking further ahead, if trade talks continue to progress, and we see full agreement to phase 1 of the deal, this should help to improve sentiment further," ING analyst Warren Patterson said.

U.S. energy companies reduced the number of oil rigs operating this week, leading to a record 11-month decline as producers follow through on plans to cut spending on new drilling.

Russia's energy ministry said that OPEC and its oil-exporting allies, known as OPEC+, would factor in the slowdown of U.S. oil output growth when they meet to discuss their output agreement in December.

However, Russian Deputy Energy Minister Pavel Sorokin said it was premature to talk about deeper production cuts.

OPEC+ has since January implemented a deal to cut output by 1.2 million bpd to support the market. The pact runs to March 2020 and the producers meet to review policy on Dec. 5-6.

-----


Earlier:

OIL PRICE: NOT ABOVE $62
2019, October, 25, 10:30:00
OIL PRICE: ABOVE $61
Brent was down 18 cents, or 0.3%, at $61.49, WTI was down 21 cents, or 0.4%, at $56.02.
OIL PRICE: NOT ABOVE $62
2019, October, 23, 12:50:00
OIL PRICE: NEAR $59 AGAIN
Brent were down 25 cents, or 0.43%, to $59.45 a barrel , WTI for December delivery fell 32 cents, or 0.59%, to $54.16 per barrel
OIL PRICE: NOT ABOVE $62
2019, October, 21, 13:55:00
OIL PRICE: NEAR $59 YET
Brent crude LCOc1 was down 57 cents at $58.85 a barrel, WTI crude oil CLc1 declined 39 cents to $53.39 a barrel.
OIL PRICE: NOT ABOVE $62
2019, October, 18, 12:00:00
OIL PRICE: NEAR $60
Brent fell by 21 cents, 0.4%, to $59.70 a barrel , WTI edged down by 4 cents, or 0.1%, to $53.89 per barrel.
OIL PRICE: NOT ABOVE $62
2019, October, 16, 13:25:00
OIL PRICE: NEAR $59 ANEW
Brent slipped 16 cents to $58.58 a barrel, WTI gained 2 cents to $52.83.
OIL PRICE: NOT ABOVE $62
2019, October, 14, 14:15:00
OIL PRICE: NEAR $59
Brent dropped $1.46 to $59.05 a barrel, WTI lost $1.27 at $53.43 a barrel.
OIL PRICE: NOT ABOVE $62
2019, October, 11, 12:15:00
OIL PRICE: NEAR $60
Brent rose as much as 2.3% to $60.46 a barrel and were at $60.13 per barrel, WTI rose as much as 2.1% to $54.69 a barrel and were at $54.47 per barrel, up 92 cents.
All Publications »
Tags: OIL, PRICE, BRENT, WTI