Oil
2020, July, 16, 16:25:00
OIL PRICE: NOT ABOVE $44
Brent fell 29 cents, or 0.66%, to $43.50 a barrel, WTI was down 43 cents, or 1%, to $40.77 per barrel.
2020, July, 16, 16:20:00
U.S. OIL INVENTORIES DOWN BY 7.5 MB TO 531.7 MB
U.S. commercial crude oildecreased by 7.5 million barrels from the previous week to 531.7 million barrels
2020, July, 16, 16:15:00
CHINA'S OIL THROUGHPUT UP 9%
China's previous record high was 13.84 million b/d in December 2019.
2020, July, 16, 16:10:00
U.S. OIL WRITE DOWNS
40 U.S. oil producers collectively wrote down $48 billion worth of assets in the first quarter of 2020.
2020, July, 15, 14:20:00
OIL PRICE: ABOVE $43 ANEW
Brent up 35 cents, or 0.8%, at $43.25 a barrel, WTI rose 38 cents, or 0.1%, to $40.67 a barrel.
2020, July, 15, 14:15:00
OIL DEMAND WILL UP
In 2021, oil demand is forecast to partially recover from the current year to show historic high growth of 7.0 mb/d.
2020, July, 15, 14:10:00
OPEC+ DECISION
OPEC+ sources have said no recommendations have been made to prolong record cuts into August
2020, July, 15, 13:50:00
RUSSIA'S ARCTIC OIL FOR CHINA
Since the Arctic oil exports began, Gazprom Neft has delivered over 40 million tons of ARCO (Prirazlomnoye field) and Novy Port (Novoportovskoye field) to European countries.
2020, July, 15, 13:40:00
WEATHERFORD FOR IRAQ
Frederico Justus, President, International Operations, Weatherford, noted, “This joint operation with IDC is an honor for Weatherford. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract.”
2020, July, 14, 13:25:00
OIL PRICE: ABOVE $42
Brent fell 44 cents to $42.28, WTI fell 44 cents to $42.28
2020, July, 14, 13:15:00
INNOVATION FOR ENERGY
Renewables by themselves "cannot ensure the reliable flow of electricity in any nation".
2020, July, 14, 13:10:00
U.S. PRODUCTION: OIL (-56) TBD, GAS (-712) MCFD
Crude oil production from the major US onshore regions is forecast to decrease 56,000 b/d month-over-month in July from 7,546 to 7,490 thousand barrels/day, gas production to decrease 712 million cubic feet/day from 80,266 to 79,554 million cubic feet/day .
2020, July, 14, 13:05:00
ENERGY MARKET: HUGE VOLATILITY
The fact that we are seeing 20% to 30% capital cost cuts this year quite radically means that we will face huge volatility in the future, because these are supplies that will not be coming on time when demand will recover.
2020, July, 14, 13:05:00
OIL DEMAND IS BETTER
The key Joint Ministerial Monitoring Committee, co-chaired by Saudi Arabia and Russia, the two largest members of the coalition, will convene online July 15 and make a final recommendation.