Oil
![Oil](/cache/08-23/price-175.4d62469f.jpg)
2023, August, 4, 07:00:00
OIL PRICE: BRENT ABOVE $85, WTI NEAR $82
Brent rose 10 cents, or 0.1%, to $85.24 a barrel, WTI rose 17 cents, or 0.2%, to $81.72.
![Oil](/cache/08-23/price-171.c504507f.jpg)
2023, August, 4, 06:55:00
RUSSIAN OIL CAP
The G7, the European Union and Australia imposed the $60 per barrel cap last December on sea-borne exports of Russian crude in retaliation for Russia’s war on Ukraine.
![Oil](/cache/08-23/usa-76.ccecab2a.jpg)
2023, August, 4, 05:50:00
U.S. OIL INVENTORIES DOWN BY 17 MB TO 439.8 MB
U.S. commercial crude oil inventories decreased by 17.0 million barrels to 439.8 million barrels.
![Oil](/cache/07-23/price-167.36d7badf.jpg)
2023, July, 28, 07:00:00
OIL PRICE: BRENT NEAR $84, WTI NEAR $80
Brent fell 42 cents, or 0.5%, to $83.82 a barrel, WTI fell 34 cents, or 0.4%, to $79.75 a barrel.
![Oil](/cache/07-23/price-169.e3ab89ce.jpg)
2023, July, 21, 07:00:00
OIL PRICE: BRENT ABOVE $80, WTI NEAR $76
Brent rose 63 cents to $80.27 a barrel, WTI climbed 62 cents to $76.27 a barrel.
![Oil](/cache/07-23/usa-71.8c262e61.jpg)
2023, July, 21, 06:30:00
U.S. OIL INVENTORIES UP BY 0.7 MB TO 457.4 MB
U.S. commercial crude oil inventories decreased by 0.7 million barrels to 457.4 million barrels.
![Oil](/cache/07-23/price-168.83d83575.jpg)
2023, July, 14, 07:00:00
OIL PRICE: BRENT ABOVE $81, WTI NEAR $77
Brent had added 5 cents, or 0.1%, to $81.41 per barrel, WTI rose 9 cents, or 0.1%, to $76.98.
![Oil](/cache/07-23/price-152.504b19ce.jpg)
2023, July, 14, 06:55:00
OIL PRICES 2023-24: $80 - $84
The Brent crude oil spot price will average $80 per barrel (b) in 4Q23 and $84/b in 2024.
![Oil](/cache/07-23/price-135.cf4bac7b.jpg)
2023, July, 14, 06:50:00
RUSSIAN OIL VS SANCTIONS
According to price reporting agency Argus Media, Urals crude topped $60 a barrel on Wednesday, climbing above the cap that the Group of Seven set last year in an attempt to restrict revenue to Moscow’s war machine.
![Oil](/cache/07-23/price-160.4221fc43.jpg)
2023, July, 14, 06:45:00
RUSSIAN ENERGY REVENUES DOWN
The central bank still expects a current account surplus of $47 billion this year and $38 billion in 2024. On Tuesday, it said in a statement that Russia’s worsening trade balance was caused by a decrease in export volumes as well as the decline in prices mainly for energy exports.
![Oil](/cache/07-23/price-162.11ac9f0b.jpg)
2023, July, 14, 06:35:00
QATAR LNG RECORD
About 40% of new global LNG output will come from Qatar by 2029, said Minister of Energy Saad al-Kaabi at the LNG 2023 conference.
![Oil](/cache/07-23/usa-70.420a4bf2.jpg)
2023, July, 14, 06:20:00
U.S. OIL INVENTORIES UP BY 5.9 MB TO 458.1 MB
U.S. commercial crude oil inventories increased by 5.9 million barrels to 458.1 million barrels.
![Oil](/cache/07-23/rig-39.4b478677.jpg)
2023, July, 14, 06:15:00
WORLDWIDE RIG COUNT UP 17 TO 1,800
The Worldwide Rig Count for June was 1,800, up 17 from the 1,783 counted in May 2023, and up 94, from the 1,706 counted in June 2022.
![Oil](/cache/07-23/price-163.8f640f29.jpg)
2023, July, 7, 07:00:00
OIL PRICE: BRENT NEAR $77, WTI NEAR $72
Brent were up 20 cents, or 0.3%, at $76.72 a barrel, WTI gained 19 cents, also 0.3%, to $71.99 a barrel.
![Oil](/cache/07-23/price-158.911eb0f5.jpg)
2023, July, 7, 06:53:00
OPEC+ STABILIZE MARKET
UAE energy minister Suhail al-Mazrouei said the voluntary OPEC+ cuts would bear fruit soon and blamed the current market malaise on the disconnect between physical and paper traders.