RUS | ENG | All
Укажите логин или email, которые вы использовали при регистрации.
Если вы не помните свой пароль - просто оставьте это поле пустым и вы получите новый, вместе со ссылкой на активацию.

Еще не зарегистированы?
Добро пожаловать!

2019-02-27 09:55:00

OIL PRICE: NEAR $66 ANEW

OIL PRICE: NEAR $66 ANEW

REUTERS - Oil prices rose on Wednesday after a report of declining U.S. crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from U.S. President Donald Trump.

U.S. crude oil inventories fell by 4.2 million barrels in the week to Feb. 22, to 444.3 million barrels, the American Petroleum Institute (API) estimated in a weekly report on Tuesday.

Official data will be released by the U.S. Energy Information Administration (EIA) after 1800 GMT on Wednesday.

U.S. West Texas Intermediate (WTI) crude oil futures were at $55.99 per barrel at 0600 GMT, up 49 cents, or 0.9 percent, from their last settlement.

International Brent crude futures were at $65.65 per barrel, up 44 cents, or 0.7 percent from their last close.

Oil markets have generally received support this year from supply curbs by the Organization of the Petroleum Exporting Countries (OPEC), which together with some non-affiliated producers like Russia, known as OPEC+, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prop up prices.

And the group has indicated it will continue to withhold supply despite pressure from Trump this week to stop artificially tightening markets.

"Crude oil futures bounced as OPEC members remained firm on planned production cuts despite heightened political pressure from U.S. President Trump early this week," said Benjamin Lu of Singapore-based brokerage Phillip Futures.

Trump tweeted on Monday that oil prices were getting too high for the global economy, asking OPEC to relax its supply cuts.

Despite the OPEC-led curbs, oil remains in ample supply as U.S. crude production has risen by more than 2 million bpd over the past year, to a record 12 million bpd, and because demand growth is low due to a global economic slowdown and improving energy efficiency across industries.

"The OPEC+ production cuts have ... so far failed to create the tightness needed to support a continued rally," said Ole Hansen, head of commodity strategy at Denmark's Saxo Bank.

-----


Earlier:

OIL PRICE: NEAR $66 ANEW
2019, February, 25, 12:15:00
OIL PRICE: ABOVE $66 ANEW
REUTERS - Oil prices dipped on Monday, dragged down by plentiful supply as U.S. exports soar and compete with traditional producers from the Middle East in key markets such as Asia.
OIL PRICE: NEAR $66 ANEW
2019, February, 22, 12:15:00
OIL PRICE: NEAR $67
REUTERS - Oil prices were firm on Friday, supported by OPEC’s ongoing supply cuts and hopes that Washington and Beijing may soon end their trade dispute.
OIL PRICE: NEAR $66 ANEW
2019, February, 20, 11:50:00
OIL PRICE: ABOVE $66 YET
REUTERS - International Brent crude futures were at $66.41 per barrel, down 4 cents from their last close, though still not far off their 2019 high of $66.83 per barrel, hit on Monday. U.S. West Texas Intermediate (WTI) crude oil futures hit 2019 highs of $56.39 per barrel on Wednesday but had slipped back to $56.16 per barrel by 0746 GMT, which was slightly above their last settlement.
OIL PRICE: NEAR $66 ANEW
2019, February, 18, 12:30:00
OIL PRICE: ABOVE $66
REUTERS - Oil prices on Monday hit their highest levels since November last year, lifted by OPEC-led supply cuts, U.S. sanctions on Iran and Venezuela, and hopes that the Sino-U.S. trade dispute may soon end.
OIL PRICE: NEAR $66 ANEW
2019, February, 18, 12:25:00
OIL DEMAND GROWTH 1.4 MBD
IEA - Growth in 4Q18 was robust at 1.4 mb/d y-o-y and for 2018 as a whole growth was 1.3 mb/d.
OIL PRICE: NEAR $66 ANEW
2019, February, 13, 12:10:00
OPEC ISN'T A CARTEL
REUTERS - OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices, when asked on Monday to comment on a U.S. House committee passing a bill targeting OPEC oil supply cuts.
OIL PRICE: NEAR $66 ANEW
2019, January, 21, 11:50:00
OPEC CONFORMITY LEVEL 98%
OPEC - The JMMC calls on all participating countries of the ‘Declaration of Cooperation’ to redouble their efforts in the full and timely implementation of the supply adjustments to ensure that the oil market remains in balance in 2019.
All Publications »
Tags: OIL, PRICE, BRENT, WTI,