Oil
![Oil](/cache/11-21/price-0321.2c6debee.jpg)
2021, November, 10, 12:20:00
OIL PRICES 2021-22: $82-$72
We expect Brent prices will remain near current levels for the rest of 2021, averaging $82/b in the fourth quarter of 2021. In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil consumption and contribute to Brent prices declining from current levels to an annual average of $72/b.
![Oil](/cache/11-21/price-0010.7480081e.jpg)
2021, November, 9, 17:25:00
OIL PRICE: NOT ABOVE $84
Brent rose 31 cents, or 0.4%, to $83.74 a barrel, WTI advanced 36 cents, or 0.4%, to $82.29
![Oil](/cache/11-21/usa-030.944192e3.jpg)
2021, November, 9, 17:20:00
GLOBAL OIL DEMAND GROWTH
This year, demand for petroleum, both in the United States and globally, has largely returned to the pre-pandemic levels in 2019. Demand has grown faster than supply, reducing inventories and contributing to higher prices for crude oil and petroleum products.
![Oil](/cache/11-21/price-0319.75146493.jpg)
2021, November, 8, 12:30:00
OIL PRICE: ABOVE $83 ANEW
Brent was up by 86 cents or 1% at $83.60 a barrel, WTI gained 89 cents or 1.1% to $82.16.
![Oil](/cache/11-21/oil-007.f77f6df5.jpg)
2021, November, 8, 12:25:00
OPEC+ 400 TBD
Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of December 2021, as per the attached schedule.
![Oil](/cache/11-21/china-023.f66880e2.jpg)
2021, November, 8, 12:10:00
CHINA OIL IMPORTS DOWN
To ensure domestic oil products supplies by preventing a significant drop in throughput, Chinese refineries had to draw crude inventory in October.
![Oil](/cache/11-21/rig-018.c6f34c37.jpg)
2021, November, 8, 12:00:00
WORLDWIDE RIG COUNT UP 56 TO 1,504
The Worldwide Rig Count for October was 1,504, up 56 from the 1,448 counted in September 2021,and up 488 from the 1,016 counted in October 2020.
![Oil](/cache/11-21/usa-029.49a2d7c5.jpg)
2021, November, 8, 11:55:00
U.S. OIL INVENTORIES UP BY 3.3 MB TO 434.1 MB
U.S. commercial crude oil inventories increased by 3.3 million barrels from the previous week to 434.1 million barrels.
![Oil](/cache/11-21/rig-017.a52fe949.jpg)
2021, November, 8, 11:50:00
U.S. RIGS UP 6 TO 550
U.S. Rig Count is up 6 from last week to 550, Canada Rig Count is down 6 from last week to 160.
![Oil](/cache/11-21/price-0313.9951af22.jpg)
2021, November, 3, 12:15:00
OIL PRICE: NEAR $83
Brent fell $1.03, or 1.2%, to $83.69 a barrel, WTI umbled $1.30, or 1.6%, to $82.61 a barrel.
![Oil](/cache/10-21/price-0307.b1f11cf7.jpg)
2021, November, 2, 14:00:00
OIL PRICE: NEAR $85
Brent gained 20 cents, or 0.2%, to $84.91 a barrel, WTI climbed 14 cents, or 0.2%, to $84.19.
![Oil](/cache/11-21/china-018.980709ce.jpg)
2021, November, 2, 13:40:00
CHINA CLIMATE TARGETS UP
Coal (including lignite) still dominates the energy mix with 60% in 2020, but its share is decreasing rapidly (-11% points since 2010).
![Oil](/cache/11-21/iraq-004.7e78fbdb.jpg)
2021, November, 2, 13:35:00
IRAQ OIL EXPORTS UP
Iraq's OPEC+ quota in October was 4.149 million b/d, up from 4.105 million b/d in September.
![Oil](/cache/11-21/exxon-003.ab45cb9d.jpg)
2021, November, 2, 13:20:00
EXXON EARNINGS $6.8 BLN
Exxon Mobil Corporation announced estimated third-quarter 2021 earnings of $6.8 billion, or $1.57 per share assuming dilution.
![Oil](/cache/11-21/price-0301.835e80ea.jpg)
2021, November, 1, 14:00:00
OIL PRICE: NEAR $84 YET
Brent dropped 46 cents, or 0.6%, to $83.26 a barrel, WTI slid 64 cents, or 0.8%, to $82.93.