Prices
2016, March, 25, 19:45:00
OIL PRICES WILL UP
“We furnish 20 percent of China’s crude oil imports – about one million barrels a day. But there’s a significant gap in what we are doing now, and what we can offer,” Nasser said. “Our investments in China’s entire oil value chain – integrating supply, refining, chemicals, lubes, distribution and marketing – don’t match our supply.”
2016, March, 22, 19:10:00
U.S. GAS PRICES UP
The average price of a gallon of gasoline in the United States gained nearly 25 cents in the past four weeks, according to a survey released on Sunday.
2016, March, 17, 18:55:00
FOOLED U.S. SHALE
Analysts estimate that between 15 and 20 percent of 2016 U.S. oil production is hedged, and as little as 2 percent for 2017.
2016, March, 17, 18:45:00
OIL PRICES UP TO $41.23
Brent crude, the global oil benchmark, rose 2.2% to $41.23 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 2.7% at $39.50 a barrel.
2016, March, 12, 11:30:00
U.S. OIL PRICES UP
Oil prices have rallied by almost 50 per cent since dropping below $30 a barrel in January, tempting producers to grab any price that will allow them to keep operating through the worst commodity crash in more than 20 years.
2016, March, 12, 11:20:00
OIL PRICES LOSS
Net Benefits of Prolonged Drop in Oil Prices Diminish or Turn Negative for Some Sectors.
2016, March, 10, 19:05:00
OIL PRICES: $34 - $40
Brent crude oil prices are forecast to average $34/b in 2016 and $40/b in 2017, $3/b and $10/b lower than forecast in last month's STEO, respectively. The lower forecast prices reflect oil production that has been more resilient than expected in a low-price environment and lower expectations for forecast oil demand growth.
2016, March, 10, 18:55:00
CANADA WILL LOSE
“Despite some mitigating factors, lower oil prices are, on the whole, not favorable for Canada,” the study says, suggesting, “For every Canadian-dollar gain in WTI price, Canadian GDP would gain almost $1.7 billion on average.”
2016, March, 10, 18:50:00
AUSTRALIA HAS COLLAPSED
Petroleum exploration activity in Australia has collapsed in the wake of the plunge in global oil prices over the last 18 months, a period in which the country's crude production has fallen to its lowest level in 45 years, according to a report released Wednesday at an industry conference in Sydney.
2016, March, 10, 18:45:00
E.ON LOSES €7 BLN
European utility company E.ON made a net loss of €7bn during 2015, it announced March 9, with underlying net income of €1.6bn. This was similar to 2014 but it also took an €8.8bn impairment charge mainly related to its struggling generation assets.
2016, March, 10, 18:40:00
OIL PRICES: OWER $40
Brent crude futures LCOc1 were at $40.88 per barrel at 0339 GMT, down 19 cents from their last close.
2016, March, 8, 13:40:00
OIL MARKETS CORRECTION
Global crude markets will see a correction before the end of this year as current prices are forcing all producers to freeze their production, the United Arab Emirates’ energy minister Suhail bin Mohammed al-Mazrouei said Monday.
2016, March, 8, 13:35:00
CHINA'S OIL IMPORTS UP
China's crude oil imports in February rose 20.2 percent on a daily basis compared to same month last year, reaching a new record, official customs data showed on Tuesday.
2016, March, 8, 13:20:00
U.S. RIGS DOWN 46
U.S. Rig Count is down 13 rigs from last week to 489, with oil rigs down 8 to 392, and gas rigs down 5 to 97.
Canadian Rig Count is down 46 rigs from last week to 129, with oil rigs down 33 to 50, and gas rigs down 13 to 79.
2016, March, 4, 20:00:00
OIL PRICES UP TO $37.47
Brent futures gained 40 cents to $37.47 a barrel as of 1519 GMT (10:19 a.m. EST), after settling 14 cents higher in the previous session. The crude benchmark is set to end the week with a gain of more than 5 percent.