RUS | ENG | All
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!

2022-08-03 12:45:00

OIL PRICE: BRENT ABOVE $99, WTI ABOVE $93

OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93

REUTERS - Aug 3 - Oil prices dipped on Wednesday ahead of a meeting of OPEC+ producers at which producers are expected to keep output steady with spare capacity limited and against the backdrop of fears that a slowdown in global growth will hit fuel demand.

Brent crude futures were down $1.34, or 1.3%, at $99.20 a barrel at 0815 GMT. West Texas Intermediate (WTI) crude futures fell $1.28, or 1.4%, to $93.14 a barrel.

The premium for front-month Brent futures over barrels loading in six months' time is at a three-month low, indicating worries about current tight supply are abating.

Ministers for members of the Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday from 1130 GMT.

OPEC+ sources told Reuters last week that the group would likely keep output unchanged in September, or raise it slightly.

Saudi Arabia may be reluctant to beef up output at the expense of OPEC+ partner Russia, hit by sanctions due to the Ukraine conflict.

"Even if the OPEC+ group did declare a small increase, the gesture would be largely symbolic given that very few members have the capacity to materially increase production," said PVM analyst Stephen Brennock.

"Either way, OPEC will be wary of rocking the boat given the current volatile and turbulent state of the oil market."

Ahead of the meeting, OPEC+ trimmed its forecast for an oil market surplus this year by 200,000 barrels per day (bpd), to 800,000 bpd, three delegates told Reuters. 

Meanwhile, data from the American Petroleum Institute, an industry group, showed U.S. crude stocks rose by about 2.2 million barrels for the week ended July 29.Gasoline inventories fell by 200,000 barrels and distillate stocks by about 350,000 barrels.

Official data from the U.S. Energy Information Administration (EIA) is due at 1430 GMT.

-----


Earlier:

OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2022, August, 2, 12:40:00
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
Brent was down $1.40, or 1.4%, to $98.63 a barrel, WTI fell $1.00, or 1.1%, to $92.89.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2022, August, 2, 12:35:00
OPEC OIL PRICE: $110.9
The price of OPEC basket of thirteen crudes stood at $110.90 a barrel
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2022, August, 2, 12:30:00
ЦЕНА URALS: $83,27
Средняя цена на нефть марки Urals в январе-июле 2022 года сложилась в размере $83,27 за баррель, в январе-июле 2021 года – $64,68 за баррель.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2022, August, 2, 12:25:00
RUSSIAN OIL EXPORTS UP
The boom in STS activity involving Russian crude came as Moscow's seaborne oil exports defied Western sanctions to hit post-pandemic highs of 4 million b/d in April 2022.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2022, August, 1, 11:15:00
OIL PRICE: BRENT ABOVE $103, WTI ABOVE $97
Brent were down 82 cents, or 0.8%, at $103.15 a barrel, WTI was at $97.44 a barrel, down $1.18, or 1.2%.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2022, August, 1, 11:10:00
OPEC OIL PRICE: $110.84
The price of OPEC basket of thirteen crudes stood at $110.84 a barrel
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2022, August, 1, 11:05:00
ОПЕК+ РОССИЯ И САУДОВСКАЯ АРАВИЯ
Было подчёркнуто, что Россия и Саудовская Аравия твёрдо привержены цели соглашения ОПЕК+ по сохранению рыночной стабильности и восстановлению баланса спроса и предложения.
All Publications »
Tags: OIL, PRICE, BRENT, WTI, OPEC, RUSSIA, SANCTIONS
Chronicle:
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2023, February, 3, 11:29:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2023, February, 3, 11:28:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2023, February, 3, 11:25:00
ЦЕНА URALS: $49.48
Средняя цена на нефть марки Urals в январе 2023 года сложилась в размере $49,48 за баррель, что в 1,7 раз ниже, чем в январе 2022 года ($85,64 за баррель).
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2023, February, 3, 11:20:00
RUSSIAN GAS TO EUROPE DOWN AGAIN
Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2023, February, 3, 11:15:00
BP: THE TRANSITION TO A LOW-CARBON WORLD
The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2023, February, 3, 11:10:00
GERMAN WIND ENERGY 7 GW
Germany targets 30 GW of offshore wind by 2030. The country had 7.7 GW of offshore wind installed capacity at the end of 2021.
OIL PRICE: BRENT ABOVE $99, WTI ABOVE  $93
2023, February, 3, 11:05:00
INDIA GREEN TRANSITION $8 BLN
India plans to spend US$4.3bn on energy transition through the Ministry of Petroleum and Gas, including programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment and policies for efficient use of energy across various economic sectors.
All Publications »