Oil
![Oil](/cache/08-22/opec-027.1b044221.jpg)
2022, August, 26, 12:00:00
OPEC EARNINGS $842 BLN
OPEC will earn about $842 billion in oil export revenue in 2022, the most inflation-adjusted net oil export revenue for the group since 2014, when they collectively earned nearly $992 billion.
![Oil](/cache/08-22/usa-0165.3cd50047.jpg)
2022, August, 26, 11:50:00
U.S. OIL INVENTORIES DOWN BY 3.3 MB TO 421.7 MB
U.S. commercial crude oil inventories decreased by 3.3 million barrels to 421.7 million barrels.
![Oil](/cache/08-22/price-00208.b5bd4e31.jpg)
2022, August, 25, 10:25:00
OIL PRICE: BRENT ABOVE $101, WTI ABOVE $95
Brent rose 45 cents, or 0.4%, to $101.67 a barrel, WTI was up 32 cents, or 0.3%, at $95.21 a barrel.
![Oil](/cache/08-22/price-00202.467effb1.jpg)
2022, August, 25, 10:20:00
RUSSIAN OIL DISCOUNTS
The EU’s sixth round of sanctions over the invasion of Ukraine includes a ban on Russian oil, as well as the use by third countries of the bloc’s companies for insurance and financial services.
![Oil](/cache/08-22/price-00200.c0f023f9.jpg)
2022, August, 25, 10:15:00
BRITAIN'S ENERGY PROTECTION £100 BLN
UK was facing a “catastrophic winter”, telling the BBC that half of all households could fall into fuel poverty without intervention.
![Oil](/cache/08-22/iran-021.41f35bd9.jpg)
2022, August, 25, 10:05:00
IRANIAN OIL WILL UP
Iranian oil production has held at 2.58 million b/d for the four months through July,
![Oil](/cache/08-22/price-00203.cc0d5895.jpg)
2022, August, 23, 11:00:00
OIL PRICE: NEAR $97, WTI NEAR $91
Brent gained 42 cents, or 0.4%, to $96.90 a barrel, WTI rose 40 cents, or 0.4%, to $90.76 a barrel.
![Oil](/cache/08-22/price-00204.5b754e45.jpg)
2022, August, 23, 10:55:00
OPEC OIL PRICE: $99.66
The price of OPEC basket of thirteen crudes stood at $99.66 a barrel
![Oil](/cache/08-22/china-0106.b15bbe81.jpg)
2022, August, 23, 10:40:00
RUSSIAN ENERGY FOR CHINA UP
Russia is now China’s top supplier of the fuel, supplanting Indonesia after the Southeast Asian nation deterred buyers by raising prices.
![Oil](/cache/08-22/price-00201.47da4b8c.jpg)
2022, August, 22, 13:35:00
OIL PRICE: BRENT NEAR $96, WTI NEAR $90 ANEW
Brent fell $1.60, or 1.6%, to $95.12 a barrel, WTI were down $1.56, or 1.7%, at $89.21 a barrel.
![Oil](/cache/08-22/price-00196.bf11bd38.jpg)
2022, August, 22, 13:25:00
U.S. OIL INDUSTRY LIQUIDATION
There is no indication that such orderly liquidations would be offset by orderly installation of replacement facilities,
![Oil](/cache/08-22/norway-061.99d0e04e.jpg)
2022, August, 22, 13:10:00
NORWAY OIL, GAS PRODUCTION 1.876 MBD
Preliminary production figures for July 2022 show an average daily production of 1 876 000 barrels of oil, NGL and condensate.
![Oil](/cache/08-22/rig-064.d365deb3.jpg)
2022, August, 22, 13:05:00
U.S. RIGS DOWN 1 TO 762
U.S. Rig Count is down 1 from last week to 762, Canada Rig Count is unchanged from last week at 201
![Oil](/cache/08-22/price-00198.753d444e.jpg)
2022, August, 19, 09:15:00
OIL PRICE: BRENT NEAR $96, WTI NEAR $90 YET
Brent fell 36 cents, or 0.4%, to $96.23 a barrel, WTI was at $90.29 a barrel, down 21 cents.
![Oil](/cache/08-22/russia-0166.beef5f6c.jpg)
2022, August, 19, 08:50:00
MUTED RUSSIA SANCTIONS
Russia's crude exports rose by 140,000 b/d on the month to average 3.36 million b/d from Aug 1-16 to remain above pre-war levels for the fifth month in a row,