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2020-10-01 13:50:00

OIL PRICE: NEAR $42 ANEW

OIL PRICE: NEAR $42 ANEW

REUTERS - OCTOBER 1, 2020 -  Oil prices fell on Thursday as rising coronavirus cases dampened the demand outlook, with further price pressure from a rise in OPEC output last month, though losses were capped by renewed hopes for U.S. fiscal stimulus.

Brent crude futures fell 17, or 0.4%, to $42.13 a barrel by 0818 GMT and U.S. West Texas Intermediate (WTI) crude futures were down 22 cents, or 0.6%, at $40.

"It has become evident that the virus has not been contained. Infection rates are going up, the global death toll has surpassed the 1 million mark and the world is becoming a gloomy place once again," said PVM Oil analyst Tamas Varga.

In the United States alone the pandemic has infected more than 7.2 million and killed more than 206,000.

Increasing oil supply from the Organization of the Petroleum Exporting Countries (OPEC) also weighed on the market, with output in September up 160,000 barrels per day (bpd) from August, a Reuters survey found.

The rise was largely on the back of higher supplies from Libya and Iran, both exempt from an oil supply pact between OPEC and allies led by Russia, a grouping known as OPEC+.

"Increasing supplies from OPEC+ will be risking the rebalancing effort as the market is still grappling with weak demand," ANZ Research said.

Prices received some respite from progress in U.S. talks on a stimulus package for the world's biggest economy.

U.S. President Donald Trump's administration has proposed a new stimulus package worth more than $1.5 trillion.

U.S. Treasury Secretary Steven Mnuchin earlier said that talks with House Speaker Nancy Pelosi had made progress on COVID-19 relief legislation, and the House of Representatives postponed a vote on a $2.2 trillion Democratic coronavirus plan to allow more time to agree a bipartisan deal.

In Norway, a labour union said it would escalate offshore industrial action to four additional fields from Oct. 4 after dozens of workers went on strike at the 470,000 bpd Johan Sverdrup oilfield.

Sverdrup operator Equinor said it could maintain safe operations at the oilfield despite the strike.

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Earlier:

OIL PRICE: NEAR $42 ANEW
2020, September, 30, 13:10:00
OIL PRICE: NOT BELOW $40 AGAIN
Brent dropped 40 cents, or 1%, to $40.63 per barrel, WTI fell 32 cents, or 0.8%, to $38.97.
OIL PRICE: NEAR $42 ANEW
2020, September, 29, 13:00:00
OIL PRICE: NOT BELOW $42 AGAIN
Brent fell 32 cents, or 0.8%, to $42.55 a barrel, WTI dropped 34 cents, or 0.8%, to $40.26 a barrel
OIL PRICE: NEAR $42 ANEW
2020, September, 29, 12:55:00
УСТОЙЧИВОСТЬ ИНВЕСТИЦИЙ В ЭНЕРГЕТИКУ
Выработанный комплекс принципов в этой области, таких как повышение доступности энергетических данных, обеспечение инвестиций в устойчивые энергетические системы, обеспечение устойчивости цифровых энергетических систем, на наш взгляд, отвечает действительности и подтверждает основные концепции, обсуждавшиеся и согласованные в предыдущие годы.
OIL PRICE: NEAR $42 ANEW
2020, September, 28, 12:10:00
OIL PRICE: NOT BELOW $41 AGAIN
Brent fell 37 cents, or 0.9%, to $41.55 a barrel, WTI was at $39.86 a barrel
OIL PRICE: NEAR $42 ANEW
2020, September, 28, 12:05:00
ТРАНСФОРМАЦИЯ МИРОВОЙ ЭНЕРГЕТИКИ
Структура энергетической отрасли будет трансформироваться, как со стороны спроса, так и со стороны предложения.
OIL PRICE: NEAR $42 ANEW
2020, September, 25, 13:00:00
OPEC+ IRAQ REDUCING
OPEC’s second-biggest producer, Iraq has failed in the past to fully comply with OPEC+ oil output reductions,
OIL PRICE: NEAR $42 ANEW
2020, September, 25, 12:55:00
RUSSIA'S OIL EXPORTS DOWN, LNG UP
Russia’s crude oil export in January-July 2020 was down 4.2% year-on-year to 143.2 mn tons. In terms of value, crude oil export decreased by 36.6% year-on-year making $43.9 bn.
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Tags: OIL, PRICE, BRENT, WTI
Chronicle:
OIL PRICE: NEAR $42 ANEW
2021, June, 25, 12:24:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
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OIL PRICE: NEAR $42 ANEW
2021, June, 25, 12:23:00
ПЕРСПЕКТИВЫ РАЗВИТИЯ И МОДЕРНИЗАЦИЯ УГОЛЬНЫХ ПРЕДПРИЯТИЙ РОССИИ
Восток Капитал приглашает Вас принять участие в бесплатном вебинаре в рамках подготовки к международной конференции и выставке «Уголь Россия и СНГ» на тему: «Перспективы развития и модернизация угольных предприятий России», который состоится 16 июля, 13:00 (МСК).
OIL PRICE: NEAR $42 ANEW
2021, June, 25, 12:20:00
U.S. COAL PRODUCTION UPDOWN
Through 24 weeks, US output was approximately 279 million st, up 8.9% compared with the year-ago period. It is annualized to be 581 million st for the year, up 8.7% from the previous year.
OIL PRICE: NEAR $42 ANEW
2021, June, 24, 12:20:00
OIL PRICE: NOT ABOVE $76 ANEW
Brent rose 30 cents, or 0.4%, to $75.49 a barrel, WTI climbed 31 cents, or 0.4%, to $73.39 a barrel.
OIL PRICE: NEAR $42 ANEW
2021, June, 24, 12:15:00
U.S. LNG DEMAND UP
Wide spreads between the price of LNG in end-user markets in Asia and Europe and feedgas prices based on the US Henry Hub have been incentivizing robust export activity from the US Gulf and Atlantic coasts.
OIL PRICE: NEAR $42 ANEW
2021, June, 24, 12:10:00
CHINA NEED COAL
A conservative estimate would be for coal consumption of around one billion metric tonnes in 2050, still contributing 10%-15% of China's total energy consumption
OIL PRICE: NEAR $42 ANEW
2021, June, 24, 12:05:00
CHINA COAL PRICES UP
The most-traded coking coal futures contract on the Dalian Commodity Exchange , for September delivery, ended at 2,037 yuan ($314.24) per tonne.
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