Oil
![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,
![Oil](/cache/08-22/price-00192.fad8b973.jpg)
2022, August, 16, 14:40:49
OIL PRICE: BRENT ABOVE $94, WTI ABOVE $89
Brent fell 84 cents, or 0.9%, to $94.26 a barrel, WTI dipped 45 cents, or 0.5%, to $88.96 a barrel.
![Oil](/cache/08-22/price-00193.48b126f7.jpg)
2022, August, 16, 14:35:00
OPEC OIL PRICE: $100.04
The price of OPEC basket of thirteen crudes stood at $100.04 a barrel
![Oil](/cache/08-22/20220816-064612.3d1e1157.jpg)
2022, August, 16, 14:25:00
OIL PRICE RANGE $90 - $100
On the other hand, #BRENT has been clinging within the mid $90s/bbl range and having a price ceiling within the $101.35/bbl as the Tiltpoint.
![Oil](/cache/08-22/price-00187.f9ab2217.jpg)
2022, August, 15, 12:40:00
OIL PRICE: BRENT NEAR $96, WTI NEAR $90
Brent fell $1.14, or 1.2%, to $97.01 a barrel, WTI was at $91.03 a barrel, down $1.06, or 1.2%.
![Oil](/cache/08-22/price-00188.d1fd8b02.jpg)
2022, August, 15, 12:35:00
OPEC OIL PRICE: $103.20
The price of OPEC basket of thirteen crudes stood at $103.20 a barrel
![Oil](/cache/08-22/russia-0163.cc6015c3.jpg)
2022, August, 15, 12:30:00
EUROPEAN HUNGRY WINTER
When Russia invaded Ukraine in March, things went from tightness of supply to impending disaster. Russia, through a complex network of pipelines, is the principal supplier of natural gas to Europe and all petroleum products to Germany. Now it has curtailed normal flows.
![Oil](/cache/08-22/europe-0010.2963cb14.jpg)
2022, August, 15, 12:25:00
EUROPEAN ENERGY APOCALYPSE
Berlin is already under serious pressure after Russia cut flows through Nord Stream 1, the key connector with Europe, which is currently running at just 20 per cent capacity.
![Oil](/cache/08-22/saudi-028.467d2eec.jpg)
2022, August, 15, 12:10:00
SAUDI ARAMCO NET INCOME UP TO $87.9 BLN
The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income
![Oil](/cache/08-22/rig-0010.ee4fa371.jpg)
2022, August, 15, 12:05:00
U.S. RIGS DOWN 1 TO 763
U.S. Rig Count is down 1 from last week to 763, Canada Rig Count is down 2 from last week to 201.
![Oil](/cache/08-22/price-00185.45801eb3.jpg)
2022, August, 12, 09:10:00
OIL PRICE: BRENT NEAR $99, WTI NEAR $94
Brent fell 49 cents, or 0.5%, to $99.11 a barrel, WTI fell 50 cents, or 0.5%, to $93.84 a barrel.
![Oil](/cache/08-22/price-00181.4015c0f8.jpg)
2022, August, 12, 09:05:00
OPEC OIL PRICE: $101.29
The price of OPEC basket of thirteen crudes stood at $101.29 a barrel
![Oil](/cache/08-22/oil-028.a29fe0b6.jpg)
2022, August, 12, 09:00:00
GLOBAL OIL DEMAND 2022 - 23: 100.0 - 102.7 MBD
For 2023, the forecast for world oil demand growth remains unchanged at 2.7 mb/d, with total oil demand averaging 102.7 mb/d.
![Oil](/cache/08-22/price-00175.c31df577.jpg)
2022, August, 12, 08:55:00
OIL PRICES 2022-23: $105 - $95
The spot price of Brent crude oil averaged $71 per barrel (b) in 2021, and we forecast the Brent price will average $104/b in 2022 and $94/b in 2023.
![Oil](/cache/08-22/sanctions-016.21badc37.jpg)
2022, August, 12, 08:35:00
LIMITED RUSSIA SANCTIONS
Russian oil production in July was only 310,000 b/d below prewar levels, a fall of less than 3 per cent, while total oil exports were down about 580,000 b/d, according to the IEA’s latest monthly oil report.