Oil
![Oil](/cache/06-22/price-0065.42384b99.jpg)
2022, June, 10, 14:40:00
OIL PRICES 2022-23: $108 - $97
The Brent price will average $108/b in the second half of 2022 (2H22) and then fall to $97/b in 2023.
![Oil](/cache/06-22/germany-017.be61269f.jpg)
2022, June, 10, 14:20:00
GERMANY NEED RUSSIAN ENERGY
Germany advised people to defrost their freezers regularly, change shower heads and switch office lighting to LEDs as the government tries to reduce a reliance on imported Russian energy that’s become a political liability.
![Oil](/cache/06-22/usa-0135.95e54590.jpg)
2022, June, 10, 13:50:00
U.S. OIL INVENTORIES UP BY 2.0 MB TO 416.8 MB
U.S. commercial crude oil inventories increased by 2.0 million barrels to 416.8 million barrels.
![Oil](/cache/06-22/price-0073.6541a1c7.jpg)
2022, June, 7, 11:30:00
OIL PRICE: BRENT NEAR $120, WTI NEAR $119
Brent were up 28 cents, or 0.2%, at $119.79 barrel, WTI were up 31 cents, or 0.3%, at $118.81 a barrel.
![Oil](/cache/06-22/sanctions-012.b1353c53.jpg)
2022, June, 7, 11:20:00
RUSSIA CAN BYPASS SANCTIONS
"This problem can be solved -- insuring supplies can be secured by using state guarantees within the framework of interstate agreements with third countries," Medvedev said.
![Oil](/cache/06-22/price-0070.224d488c.jpg)
2022, June, 6, 13:05:00
OIL PRICE: BRENT NEAR $120, WTI ABOVE $119
Brent firmed 32 cents, or 0.3%, to $120.04 a barrel, WTI were up 40 cents, or 0.3%, at $119.27 a barrel.
![Oil](/cache/06-22/rig-052.b07812e4.jpg)
2022, June, 6, 12:35:00
WORLDWIDE RIG COUNT UP 25 TO 1,628
The Worldwide Rig Count for May was 1,628, up 25 from the 1,603 counted in April 2022,and up 366 from the 1,262 counted in May 2021.
![Oil](/cache/06-22/rig-051.12f7b1e5.jpg)
2022, June, 6, 12:30:00
U.S. RIGS UP 0 TO 727
U.S. Rig Count is is down 0 from last week to 727, Canada Rig Count is up 14 from last week to 117.
![Oil](/cache/06-22/price-0071.2b3e595c.jpg)
2022, June, 3, 13:25:00
OIL PRICE: BRENT NEAR $118, WTI NEAR 116
Brent fell 85 cents, or 0.7%, to $116.76 a barrel, WTI slipped 88 cents, or 0.8%, to $115.99.
![Oil](/cache/06-22/price-0064.4842fad4.jpg)
2022, June, 3, 13:20:00
OPEC OIL PRICE: $114.62
The price of OPEC basket of thirteen crudes stood at $114.62 a barrel on Thursday,
![Oil](/cache/06-22/price-0062.a1c4b223.jpg)
2022, June, 3, 13:15:00
OPEC + RUSSIA: +0.648 MBD
Therefore, July production will be adjusted upward by 0.648 mb/d as per the attached schedule.
![Oil](/cache/06-22/price-0066.dbac592a.jpg)
2022, June, 3, 13:10:00
RUSSIAN SANCTIONS RISES PRICES
"The EU's decisions to partially phase out Russian oil and oil products, as well as to ban the insurance of Russian merchant ships, are highly likely to provoke further price increases, destabilize energy markets, and disrupt supply chains," the Russian Foreign Ministry said in a statement.
![Oil](/cache/06-22/russia-0131.2f7365d1.jpg)
2022, June, 3, 13:00:00
RUSSIAN OIL FOR ASIA UP
Asia is expected to account for about 40% of global incremental crude runs in 2022, with the US and Europe accounting for about 30% and 18%, respectively.
![Oil](/cache/06-22/india-052.266ae465.jpg)
2022, June, 3, 12:55:00
INDIA OIL PRODUCTION WILL UP
India imported 54% of its oil needs and 56% of its gas needs in 2020. After coal (44%), oil represented 24% of the country’s total consumption in 2020, against 6% for natural gas. As of 2021, India's oil reserves are estimated at 4,530 mbl and its gas reserves at 1,372 bcm.
![Oil](/cache/06-22/usa-0131.1c80eab9.jpg)
2022, June, 3, 12:40:00
U.S. OIL INVENTORIES DOWN BY 5.1 MB TO 414.7 MB
U.S. commercial crude oil inventories decreased by 5.1 million barrels to 414.7 million barrels.