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Oil

Oil
2019, February, 20, 11:50:00

OIL PRICE: ABOVE $66 YET

REUTERS - International Brent crude futures were at $66.41 per barrel, down 4 cents from their last close, though still not far off their 2019 high of $66.83 per barrel, hit on Monday. U.S. West Texas Intermediate (WTI) crude oil futures hit 2019 highs of $56.39 per barrel on Wednesday but had slipped back to $56.16 per barrel by 0746 GMT, which was slightly above their last settlement.

Oil
2019, February, 20, 11:45:00

RUSSIA, SAUDI ARABIA COOPERATION

PLATTS - Russian President Vladimir Putin and Saudi King Salman bin Abdulaziz confirmed they are ready to continue cooperation on hydrocarbons during a phone call Tuesday, the Kremlin said in a statement.

Oil
2019, February, 20, 11:35:00

U.S. PRODUCTION: OIL + 84 TBD, GAS + 858 MCFD

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 84,000 b/d month-over-month in March from 8,314 to 8,398 thousand barrels/day , gas production to increase 858 million cubic feet/day from 77,109 to 77,967 million cubic feet/day .

Oil
2019, February, 20, 11:00:00

NORWAY'S PRODUCTION 1.8 MBD

NPD - Preliminary production figures for January 2019 show an average daily production of 1 822 000 barrels of oil, NGL and condensate, which is a decrease of 30 000 barrels per day compared to December.

Oil
2019, February, 20, 10:55:00

NORWAY'S RESOURCES UP

NPD - The Norwegian Petroleum Directorate’s estimate for total proven and unproven petroleum resources on the Norwegian Continental Shelf is about 15.6 billion standard cubic metres of oil equivalents.

Oil
2019, February, 20, 10:35:00

LUKOIL RESERVES 101%

LUKOIL - According to the SEC classification, the Company's proved hydrocarbon reserves totaled 15.9 billion barrels of oil equivalent, 76% of which stood for liquids. The proved reserves replacement ratio for liquids totaled 101%. In Russia, the main region of LUKOIL's operations, the replacement ratio reached 127%. The Company's proved hydrocarbon reserves life is 19 years.

Oil
2019, February, 18, 12:30:00

OIL PRICE: ABOVE $66

REUTERS - Oil prices on Monday hit their highest levels since November last year, lifted by OPEC-led supply cuts, U.S. sanctions on Iran and Venezuela, and hopes that the Sino-U.S. trade dispute may soon end.

Oil
2019, February, 18, 12:25:00

OIL DEMAND GROWTH 1.4 MBD

IEA - Growth in 4Q18 was robust at 1.4 mb/d y-o-y and for 2018 as a whole growth was 1.3 mb/d.

Oil
2019, February, 18, 12:15:00

U.S. OIL PRODUCTION 11.9 MBD AGAIN

API - Strongest gasoline demand (8.9 million barrels per day, mb/d) for the month January on record since 1945. Record refinery and petrochemical demand for other oils’ in any month (5.7 mb/d) U.S. production of crude oil (11.9 mb/d) and natural gas liquids (NGLs) (4.9 mb/d) Refinery throughput (17.3 mb/d) and capacity utilization (93.1 percent) for the month of January.

Oil
2019, February, 18, 12:10:00

BENEFIT FOR RUSSIA

PLATTS - Russia has benefitted significantly from the OPEC/non-OPEC production agreement, which prevented further oil price drops, energy minister Alexander Novak said Thursday, in a sign that Russia remains committed to the deal, despite recent criticism from Rosneft CEO Igor Sechin.

Oil
2019, February, 18, 11:55:00

U.S. TIGHT OIL PRODUCTION 7 MBD

U.S. EIA - In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production). A decade ago, in December 2008, shale gas and tight oil accounted for 16% of total U.S. gas production and about 12% of U.S. total crude oil production.

Oil
2019, February, 18, 11:50:00

U.S. SHALE NEED INVESTMENT

REUTERS - On Thursday, the regional price of crude was at a $1.10 a barrel premium to U.S. crude futures, the strongest in more than a year as companies including Parsley Energy, Pioneer Natural Resources, Goodrich Petroleum Corp have pared their exploration budgets, easing the constraints.

Oil
2019, February, 18, 11:40:00

SAUDIS INVESTMENT FOR PAKISTAN: $20 BLN

REUTERS - Saudi Arabia has signed an agreement to supply Pakistan with crude oil and petroleum products to secure its fuel needs, Saudi Energy Minister Khalid al-Falih said

Oil
2019, February, 15, 12:50:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude oil briefly reached 2019 highs above $65 per barrel on Friday, as OPEC-led supply cuts and the announcement of a higher-than-expected cut by Saudi Arabia this week encouraged investors.

Oil
2019, February, 15, 12:00:00

OPEC REMAINS HARD

PLATTS - "Our primary objective is to ensure that the oil market remains in balance throughout 2019 and beyond in order to build on the success of the past couple of years," added Barkindo.