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2022-08-02 12:40:00

OIL PRICE: BRENT NEAR $100, WTI ABOVE $93

OIL PRICE: BRENT NEAR $100, WTI ABOVE $93

REUTERS - Aug 2 - Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide whether to increase supply.

Surveys showed on Monday that factories across the United States, Europe and Asia struggled for momentum in July as flagging global demand and China's strict COVID-19 restrictions slowed production.

"These readings did nothing to mitigate the fears of recession," said Tamas Varga at oil broker PVM.

Brent crude was down $1.40, or 1.4%, to $98.63 a barrel by 0817 GMT, while U.S. West Texas Intermediate crude fell $1.00, or 1.1%, to $92.89.

Oil soared earlier in 2022, with Brent in March coming close to its all time high of $147 a barrel after Russia's invasion of Ukraine added to supply concerns. Concerns about slowing growth have since eclipsed tight supply.

"The upward momentum of oil prices has been gradually fading," analysts at Haitong Futures said. "Once the supply and demand situation shows any sign of further deterioration, oil is likely to lead the decline among commodities."

In focus this week is a meeting on Wednesday between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+, to decide whether to increase output in September.

Two of eight OPEC+ sources told Reuters that a modest increase for September would be discussed, while the rest said producers are likely to hold output steady. 

Also coming into view is the latest weekly reading on U.S. inventories. Analysts expect a decline in crude and gasoline stocks. This week's first report is due at 2030 GMT from the American Petroleum Institute.

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Earlier:

OIL PRICE: BRENT NEAR $100, 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 NEAR $100, 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 NEAR $100, 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.
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, July, 26, 10:55:00
OIL PRICE: BRENT NEAR $107, WTI ABOVE $98
Brent rose $1.66, or 1.6%, to $106.81 a barrel, WTI increased $1.47, or 1.5%, to $98.17 a barrel.
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, July, 26, 10:50:00
OPEC OIL PRICE: $107.66
The price of OPEC basket of thirteen crudes stood at $107.66 a barrel
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, July, 26, 10:45:00
БОЛЬШЕ РУССКОЙ НЕФТИ
«Добыча нефти за шесть месяцев превышает прошлогодний уровень на 3,4%, производство электроэнергии – на 1,9%, а значит потребление электроэнергии также примерно на эту же величину выше. Добыча угля – примерно на уровне прошлого года. Производство автобензина, дизельного топлива даже на 4,5% выше прошлого года. По газу, по известным причинам, – пока минус 5%», – рассказал Министр.
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, July, 21, 13:55:00
ЦЕНА URALS: $84,421
Средняя цена на нефть Urals за период мониторинга с 15 июня 2022 года по 14 июля 2022 года составила $84,421 за баррель, или $616,3 за тонну.
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Tags: OIL, PRICE, BRENT, WTI, OPEC, RUSSIA, SANCTIONS
Chronicle:
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, August, 15, 12:14:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, August, 15, 12:13:00
2022 SAUDI PIPELINES INTERNATIONAL CONFERENCE & EXIBITIONS
Eventat Co (a Saudi local company) is hosting the first-ever “2022 Saudi Pipelines International Conference & Exhibitions” from 4-6 October, 2022 at the Dhahran Expo, Dammam (Eastern Province), Kingdom of Saudi Arabia. The three-day conference and exhibition are dedicated to bringing together over “50+ Regional/International speakers, 100+ Sponsors/Exhibitors, 1000+ Delegates and 3000+ Visitors” from around the globe who carry significant interest in enhancing the pipelines lifecycle for the current and future.
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, August, 15, 12:12:00
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 NEAR $100, WTI ABOVE $93
2022, August, 15, 12:10:00
SAUDI ARAMCO NET INCOME UP TO $87.9 BLN
The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, August, 15, 12:05:00
U.S. RIGS DOWN 1 TO 763
U.S. Rig Count is down 1 from last week to 763, Canada Rig Count is down 2 from last week to 201.
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, August, 12, 09:10:00
OIL PRICE: BRENT NEAR $99, WTI NEAR $94
Brent fell 49 cents, or 0.5%, to $99.11 a barrel, WTI fell 50 cents, or 0.5%, to $93.84 a barrel.
OIL PRICE: BRENT NEAR $100, WTI ABOVE $93
2022, August, 12, 09:05:00
OPEC OIL PRICE: $101.29
The price of OPEC basket of thirteen crudes stood at $101.29 a barrel
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