RUS | ENG
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!

2019-04-12 12:00:00

OIL PRICE: NEAR $71

OIL PRICE: NEAR $71

REUTERS -Oil prices edged up on Friday, lifted by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela.

Despite strong price increases this year, there are concerns that an economic slowdown could soon dent fuel consumption.

International Brent crude oil futures were at $71.03 per barrel at 0653 GMT, up 20 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $63.82 per barrel, up 24 cents, or 0.4 percent, from their previous settlement.

Oil markets have been pushed up by more than a third this year by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC), U.S. sanctions on oil exporters Iran and Venezuela, and an escalating conflict in Libya.

Production in Venezuela has been plunging as the U.S. sanctions add to a deep economic and political crisis, while the U.S. government is expected to tighten oil sanctions against Iran in May.

OPEC and its allies will meet in June to decide whether to continue withholding supply, and while OPEC's de-facto leader, Saudi Arabia, is seen to be keen to continue cutting, sources within the group said it may raise output from July if disruptions elsewhere continue.

On the demand side, most of the world's growth in fuel consumption is coming from Asia.

China's economic growth is expected to slow to a near 30-year low of 6.2 percent this year, a Reuters poll showed on Friday, as sluggish demand at home and abroad weigh on activity despite a flurry of support measures.

-----

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.


Earlier:

OIL PRICE: NEAR $71
2019, April, 10, 11:40:00

OIL PRICE: ABOVE $70 ANEW

Oil prices edged back towards five-month highs on Wednesday, supported by ongoing supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela.

OIL PRICE: NEAR $71
2019, April, 8, 12:10:00

OIL PRICE: ABOVE $70

Oil prices rose to their highest level since November 2018 on Monday, driven upwards by OPEC’s ongoing supply cuts, U.S. sanctions against Iran and Venezuela, fighting in Libya as well as strong U.S. jobs data.

OIL PRICE: NEAR $71
2019, April, 5, 10:55:00

OIL PRICE: NEAR $70 YET

Oil prices fell on Friday, with Brent slipping away from the $70 mark reached the previous day, pulled down by worries about progress in the U.S.-China trade talks.

OIL PRICE: NEAR $71
2019, April, 3, 11:30:00

OIL PRICE: NEAR $70

Oil prices rose for a fourth day on Wednesday, pushing Brent towards $70 a barrel as support from OPEC-led supply cuts and U.S. sanctions overshadowed a report showing an unexpected rise in U.S. inventories.

OIL PRICE: NEAR $71
2019, April, 1, 11:40:00

OIL PRICE: ABOVE $68

Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.

OIL PRICE: NEAR $71
2019, March, 29, 11:45:00

OIL PRICE: NEAR $68

Oil prices rose on Friday on the back of ongoing OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, putting crude markets on track for their biggest quarterly rise since 2009.

OIL PRICE: NEAR $71
2019, March, 27, 12:05:00

OIL PRICE: ABOVE $67 YET

Oil prices were mixed on Wednesday, with Brent extending the previous session’s rise, but gains were kept in check amid growing fears over the impact of a global economic slowdown on demand.

All Publications »
Tags: OIL, PRICE, BRENT, WTI

Chronicle:

OIL PRICE: NEAR $71
2019, April, 17, 11:10:00

RUSSIA'S ARCTIC ENERGY

Russian energy major Gazprom Neft expects the Arctic to account for more than half its oil and gas production by 2020,

OIL PRICE: NEAR $71
2019, April, 17, 11:05:00

NUCLEAR FOR BETTER LIFE

Alexey Likhachev reminded the audience that the Forum motto is “Nuclear for better life”. Each sphere of human activity is affected by the achievements of nuclear industry. “Peaceful atom is associated with all aims and goals of UN sustainable development program. This Forum will become a space for discussing newest technologies that will lay the basis for the future of our planet”, Mr Likhachev emphasized.

OIL PRICE: NEAR $71
2019, April, 17, 11:00:00

RUSSIA, DUBAI INVESTMENT

The investment incentives provided by Dubai government and the business opportunities up for grabs on the horizon were the crux of a meeting officials of the Dubai Land Department, DLD, had with a Russian delegation who participated in the recently concluded Annual Investment Meeting 2019.

OIL PRICE: NEAR $71
2019, April, 17, 10:55:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

U.S. FRB - Industrial production edged down 0.1 percent in March after edging up 0.1 percent in February; for the first quarter as a whole, the index slipped 0.3 percent at an annual rate.

All Publications »