Oil
![Oil](/cache/2016/04/OIL-255.036aa08b.jpg)
2016, April, 26, 20:19:00
GLOBAL OIL DEFICIT
A global crude oil deficit will develop before the end of this year, the chairman of Facts Global Energy consultancy Fereidun Fesharaki said Monday.
![Oil](/cache/2016/04/OIL-251.39935f01.jpg)
2016, April, 24, 12:50:00
OIL PRICES UP $1.71
The May crude oil contract on the New York Mercantile Exchange climbed $1.55 on Apr. 20 to $42.63/bbl. The June contract was up $1.71 to $44.18/bbl.
![Oil](/cache/2016/04/OIL-252.fe952d2b.jpg)
2016, April, 24, 12:45:00
OIL MARKET STABILIZING
"I think $45 is a bit of a relief for all the oil producers around the world, but this is still far lower than to make the entire shale oil production profitable for the United States."
![Oil](/cache/OIL-177.4fa45454.jpg)
2016, April, 19, 18:15:00
OIL PRICES STABILIZE
Brent crude oil was last up 2.1% at $43.82 a barrel, above where it was before talks about a production freeze collapsed over the weekend. Analysts said oil prices drew support on Tuesday from a strike by oil workers in Kuwait, reducing concerns about a global glut of supply.
![Oil](/cache/2014/05/SAUDI-4.c7616e3f.jpg)
2016, April, 19, 18:05:00
THE UNPREDICTABLE SAUDI
The Russian camp was locked in negotiations with the Saudis, Qataris and Venezuelans — a core group that had first backed the freeze in February.
![Oil](/cache/2016/04/OIL-381.88c174de.jpg)
2016, April, 17, 19:00:00
OIL FREEZING
Some 18 OPEC and non-OPEC countries, including Russia, had been meant to meet on Sunday morning in the Qatari capital of Doha and rubber-stamp a deal - in the making since February - to freeze output at January levels until October 2016.
![Oil](/cache/2016/04/oil-245.239cf67b.jpg)
2016, April, 15, 21:48:00
OIL PRICES: ABOVE $50
“A flat output profile for OPEC (excluding Iran) and Russia would tighten global balances by almost 0.5 million barrels a day in the second half relative to our expectations and push the oil market into a deficit in the third quarter,” the U.S. bank wrote in a note on Wednesday. That would “push prices above $50 near term,” it said.
![Oil](/cache/2016/04/OIL-246.66537cf4.jpg)
2016, April, 15, 21:45:00
PRICES WILL UP
The contango between futures prices in the fourth quarter of 2016 and the average of 2017 has shrunk from $3.75 per barrel in December to $2.50 at the end of February and just $1.65 in recent days.
![Oil](/cache/2016/04/OIL-244.2eb42f42.jpg)
2016, April, 15, 21:40:00
2016: VERY UNCERTAIN PRICES
North Sea Brent crude oil prices averaged $38/barrel (b) in March, a $6/b increase from February. Both Brent and West Texas Intermediate (WTI) crude oil prices are forecast to average $35/b in 2016 and $41/b in 2017. However, the current values of futures and options contracts suggest high uncertainty in the price outlook.
![Oil](/cache/2016/04/CHINA-46.a95f901a.jpg)
2016, April, 15, 21:25:00
CHINA'S OIL IMPORTS UP
The world’s biggest energy user increased inbound shipments to 91.1 million metric tons in the first three months of the year, data from the Beijing-based General Administration of Customs showed on Wednesday. That’s equivalent to about 7.34 million barrels a day, 6 percent higher than the previous quarter and 13 percent up from the same period last year. Imports last month fell about 4 percent from February’s record to 7.71 million barrels a day, the third-highest ever.
![Oil](/cache/2016/04/ROSNEFT-38.49ab1b96.jpg)
2016, April, 12, 20:35:00
ROSNEFT: NO LOW PRICES
“The oil price is growing. I think everyone is expecting the successful outcome of our work,” Mr Sechin said. “We will need higher price levels than $45 or even $50 a barrel.”
![Oil](/cache/2016/04/CHEVRON-8.b747dffd.jpg)
2016, April, 12, 20:30:00
CHEVRON: MARKETS ARE BETTER
"Now we're seeing reductions in spending on shorter cycle projects, in other words immediate drilling activity," Watson said. "Rig rates in the US are down almost 80%, we're seeing decline in rig rates around the world and we're starting to see the supply response that everyone has expected. So we're seeing the markets come back into better balance [but] it may take more time."
![Oil](/cache/2016/04/OIL-241.0bbe9995.jpg)
2016, April, 8, 21:25:00
RUSSIAN OIL PRICE: $45 - $50
"The level of $45-50 (per barrel) is acceptable from the point of view of market balance: if prices go higher shale oil production could start to recover."
![Oil](/cache/2016/04/OIL-239.79c9af84.jpg)
2016, April, 8, 21:20:00
IRAN ISN'T NEEDED
Oil-producing countries can come to an agreement capping crude production at January levels even if Iran doesn’t join the move to help shore up prices.
![Oil](/cache/2016/04/USA-195.36fa09bc.jpg)
2016, April, 8, 21:10:00
U.S. GOOD PRICE - 2
Oil at $35 a barrel is neither too high nor too low but just right to make shares of U.S. explorers worth buying, according to Goldman Sachs Group Inc.