OIL PRICE: NEAR $66 YET
REUTERS - Oil prices edged up on Monday after Saudi oil minister Khalid al-Falih said an end to OPEC-led supply cuts was unlikely before June, while a report showed U.S. drilling activity fell for a third straight week.
The news took downward pressure from oil markets that had built the previous week on the back of surging U.S. crude output and an economic slowdown especially in Asia and Europe.
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.
Oil prices crept up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but gains were capped by record U.S. crude output and rising commercial fuel inventories.
Oil prices fell on Wednesday as bullish output forecasts by two big U.S. producers and a build in weekly U.S. crude stockpiles outweighed OPEC-led production cuts.
Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth.
Oil prices climbed on Friday as markets tightened amid output cuts by producer club OPEC, but surging U.S. supply and concerns of global economic slowdown kept a lid on further gains.
The next 10-15 years will be a period of stable development for the oil industry and prices will remain relatively high at $60-$70/b, the CEO of Lukoil, Russia's second-largest crude producer, said Wednesday.
Brent crude oil spot prices averaged $59 per barrel (b) in January, up $2/b from December 2018 but $10/b lower than the average in January of last year.
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.
|March, 18, 13:30:00|
|March, 18, 13:25:00|
|March, 18, 13:20:00|
|March, 18, 13:15:00|
|March, 18, 13:10:00|
|March, 18, 13:05:00|
U.S. DT - the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated six Russian individuals and eight entities in response to Russia’s continued and ongoing aggression in Ukraine.
India’s demand for liquefied natural gas (LNG) is set to rise by about 10 percent this year even as the country adds import capacity at a faster clip, because infrastructure constraints keep gas from getting to consumers and hinder growth rates.
По итогам 2018 года «Газпром» увеличил экспорт газа в республику на 5,4% по сравнению с 2017 годом — до 12,9 млрд куб. м. В начале 2019 года рост продолжается: с 1 января по 14 марта, по предварительным данным, объем экспорта составил 2,5 млрд куб. м, что на 1,9% больше, чем за аналогичный период 2018 года.
Abu Dhabi is one of the most important examples of a city that is creatively seeking to strengthen its renewable energy sector.