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!

2024-10-01 07:00:00

OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW

OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW

REUTERS - Oct 1, 2024  - Oil prices were little changed on Tuesday as stronger supply prospects and tepid global demand growth outweighed worries that escalating tensions in the Middle East could impact output from the key exporting region.

Brent crude futures for December delivery edged up 7 cents, or 0.1%, to $71.77 a barrel as of 0335 GMT. U.S. West Texas Intermediate crude futures for November delivery gained 8 cents, or 0.12%, to $68.25.

On Monday, Brent futures ended September down 9%, its third month of declines and largest monthly drop since November 2022. It slumped 17% in the third quarter for its biggest quarterly loss in a year. WTI fell 7% last month and dropped 16% for the quarter.

"There have been a lot of reservations in place for oil prices, as market participants look towards upcoming supply additions from OPEC+ by the end of this year, alongside a still-soft demand outlook from China reflected in the country’s latest PMI numbers," said Yeap Jun Rong, market strategist at IG.

"That said, sentiments have been less sensitive to the weaker data, finding room to stabilise on the hopes that recent raft of stimulus may help to jumpstart the economy ahead," said Yeap.

China's manufacturing activity shrank sharply in September as new orders at home and abroad cooled, pulling down factory owners' confidence to near record lows, a private-sector survey showed on Monday.

Analysts say a slew of stimulus measures over the last week are likely to be enough to bring China's 2024 growth back to about 5% after below-forecast data in the past several months cast doubts over that target, but will hardly change the long-term outlook.

-----


Earlier:

OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW
2024, September, 30, 07:00:00
OIL PRICE: BRENT ABOVE $72, WTI ABOVE $68
Brent increased 51 cents, or 0.71%, to $72.49 a barrel, WTI added 43 cents, or 0.63%, to $68.61 a barrel.
OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW
2024, September, 30, 06:55:00
СПРАВЕДЛИВЫЙ ЭНЕРГОПЕРЕХОД БРИКС
Участники заседания проводят интенсивную работу по утверждению итогового коммюнике встречи Министров энергетики стран БРИКС, а также исследования Энергоплатформы по вопросам справедливого энергетического перехода стран БРИКС.
OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW
2024, September, 30, 06:45:00
BRICS ENERGY EXPANSION
Since expanding to include OPEC members Iran and UAE at the beginning of 2024, BRICS' energy footprint has increased significantly.
OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW
2024, September, 30, 06:40:00
GLOBAL OIL DEMAND WILL UP
"There is no peak demand on the horizon," OPEC Secretary General Haitham al-Ghais said in the organization's World Oil Outlook, which sees global thirst for liquid fuels increasing from 102.2 million b/d in 2023 to 120.1 million b/d in 2050, "with the potential for it to be higher".
OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW
2024, September, 30, 06:30:00
RUSSIAN OIL PRODUCTION 10.8 MBD
Energy ministry expected Russia to produce 540 million metric tons of oil in 2030 (10.8 million barrels per day), up from 531 million tons in 2023.
OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW
2024, September, 30, 06:25:00
SAUDIS DON'T NEED $100
The shift in thinking represents a major change of tack for Saudi Arabia, which has led other Opec+ members in repeatedly cutting output since November 2022 in an attempt to maintain high prices.
OIL PRICE: BRENT NEAR $72, WTI ABOVE $68 ANEW
2024, September, 9, 06:55:00
OPEC+ PRODUCTION CUTS
In recognition of this strengthened resolve and renewed firm commitment, the eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024,
All Publications »
Tags: OIL, PRICE, BRENT, WTI, OPEC, RUSSIA, SANCTIONS