Oil
2023, November, 17, 06:30:00
GLOBAL OIL DEMAND WILL UP
Global oil demand is now projected to rise by 2.4 million b/d in 2023 to 102 million b/d, but growth will decelerate to 930,000 b/d in 2024,
2023, November, 3, 07:00:00
OIL PRICE: BRENT NEAR $87, WTI NEAR $83
Brent rose 6 cents to $86.91 a barrel, WTI gained 12 cents, or 0.2%, to $82.58 a barrel.
2023, November, 3, 06:55:00
RUSSIAN OIL, GAS FOR CHINA
Russia is counting on a planned new pipeline to China as it seeks to make up for lost gas sales in Europe, but industry insiders see major political risks around a project that is overly dependent on one buyer and question whether it will justify the huge costs.
2023, November, 3, 06:50:00
CHINA'S COAL UP ANEW
China has ramped up coal output since the 2021 power crisis in order to avoid a repeat, with this year’s annual production set to notch another record. Demand growth has also been relatively subdued amid China’s bumpy economic recovery.
2023, November, 3, 06:45:00
INDIA NEED VENEZUELA'S OIL
India, the world's third biggest oil importer and consumer, ships over 80% of its oil needs from overseas and wants to cut its crude import bill.
2023, November, 3, 06:40:00
VENEZUELA: LIFTING SANCTIONS
However, there are growing signs of a thaw in relations between the Biden administration and Caracas, with the sides holding talks to explore temporarily lifting sanctions to encourage Venezuela to hold competitive presidential elections next year.
2023, November, 3, 06:25:00
U.S. FOSSIL FUELS CHOICE
In the United States last year, according to the Energy Information Administration, natural gas accounted for 39.9 percent of electricity production; coal, 19.7 percent; nuclear, 18.2 percent; and renewables, the rest, although these are coming on fast.
2023, October, 27, 07:00:00
OIL PRICE: BRENT NEAR $89, WTI ABOVE $84
Brent rose $1.16, or 1.3%, to $89.09 a barrel. WTI climbed $1.08, also 1.3%, to $84.29 a barrel.
2023, October, 27, 06:55:00
GLOBAL OIL WILL STAY
Prince Abdulaziz said that the energy transition will require hydrocarbons including petrochemicals.
2023, October, 20, 07:00:00
OIL PRICE: BRENT ABOVE $93, WTI ABOVE $90
Brent crude futures climbed 94 cents, or 1%, to $93.32 a barrel by 0307 GMT. U.S. West Texas Intermediate crude was at $90.78 a barrel, up $1.41, or 1.6%.
2023, October, 20, 06:20:00
OIL: A VAGRANT GEOPOLITICAL BROTH
Oil has become the gift that keeps on giving. Aggressive long liquidation leaves the markets exposed to a strong geopolitical bid as it has a direct effect on oil production and transportation in the Middle East.
2023, October, 13, 07:00:00
OIL PRICE: BRENT ABOVE $86, WTI ABOVE $83
Brent rose 50 cents, or 0.6%, to $86.50 per barrel, WTI gained 64 cents, or 0.8%, to $83.55 a barrel.
2023, October, 13, 06:50:00
OIL PRICES 2023-24: $84 - $95
The Brent spot price increasing to average $95 per barrel (b) in 2024.
2023, October, 6, 07:00:00
OIL PRICE: BRENT ABOVE $84, WTI NEAR $83
Brent were up 36 cents, or 0.4%, at $84.43. WTI were up 42 cents, or 0.5%, at $82.73.
2023, October, 6, 06:50:00
STRONG COHESION OF OPEC+
The committee reaffirmed the commitment of its member countries to the DoC which extends to the end of 2024 as agreed in the 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 4th of June 2023.