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2019-03-01 12:20:00

OIL PRICE: NOT ABOVE $70

OIL PRICE: NOT ABOVE $70

REUTERS - 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.

International Brent crude futures were at $66.85 per barrel at 0750 GMT, up 54 cents, or 0.81 percent, from their last settlement.

U.S.…

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Earlier:

OIL PRICE: NOT ABOVE $70
2019, March, 18, 13:10:00

BRENT OIL: UNDERVALUED

In the context of supply and demand balance,the current price of BRENT oil is undervalued.Neither OPEC nor the IEA has considerably brought down their forecasts for global oil demand in the current year.

OIL PRICE: NOT ABOVE $70
2019, February, 27, 09:55:00

OIL PRICE: NEAR $66 ANEW

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.

OIL PRICE: NOT ABOVE $70
2019, February, 27, 09:45:00

OIL MARKET BALANCE

Abu Dhabi: Energy Minister Suhail Al Mazroui said the oil market is on the “right track” and that the market will quickly return to balance in the first quarter of this year.

OIL PRICE: NOT ABOVE $70
2019, February, 27, 09:40:00

OPEC CONTINUE CUTS

REUTERS - Based on current market data, the so-called OPEC+ group is “likely to continue with the production cuts until the end of the year”, the source told Reuters.

OIL PRICE: NOT ABOVE $70
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: NOT ABOVE $70
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: NOT ABOVE $70
2019, February, 13, 12:20:00

OIL PRICE: NEAR $63 AGAIN

REUTERS - Oil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuela’s oil exports.

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Tags: OIL, PRICE, BRENT, WTI

Chronicle:

OIL PRICE: NOT ABOVE $70
2019, March, 22, 10:20:00

U.S. OIL INVENTORIES DOWN 9.6 MB

US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.

OIL PRICE: NOT ABOVE $70
2019, March, 22, 10:15:00

SAUDI'S OIL WILL DOWN

Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.

OIL PRICE: NOT ABOVE $70
2019, March, 22, 10:10:00

BRITAIN NEED INVESTMENT $265 BLN

Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).

OIL PRICE: NOT ABOVE $70
2019, March, 22, 10:05:00

U.S. FEDERAL FUNDS RATE 2.25-2.5%

U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

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