Prices
![Prices](/cache/2017/01/1BARREL-1.08497a05.jpg)
2017, January, 26, 19:10:00
2017: PRICES WILL UP
The World Bank is holding steady its crude oil price forecast for the year at $55 per barrel, a 29 percent jump from 2016. The energy price forecast assumes members of the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers will partially comply with an agreement to limit production after a long period of unrestrained output.
![Prices](/cache/2017/01/USA-439.0209d06e.jpg)
2017, January, 26, 19:05:00
2017: FLAT OIL PRICES
Brent crude oil spot prices are expected to remain fairly flat during 2017, in part as a result of the responsiveness of U.S. tight oil production to rising oil prices in late 2016, and they are expected to average $53/b for the year.
![Prices](/cache/2017/01/USA-438.01205722.jpg)
2017, January, 24, 18:30:00
U.S. GAS PRICES WILL UP
EIA expects the Henry Hub natural gas spot price to average $3.55 per million British thermal units (MMBtu) in 2017 and $3.73/MMBtu in 2018, both higher than the 2016 average of $2.51/MMBtu. Higher prices in 2017 and 2018 reflect natural gas consumption and exports exceeding supply and imports, leading to lower average inventory levels.
![Prices](/cache/2017/01/PRICE-558.fd42edf6.jpg)
2017, January, 23, 19:10:00
OIL PRICES: ABOVE $54 AFRESH
Brent crude LCOc1, the international benchmark for oil prices, was trading at $55.42 per barrel at 0441 GMT, down 7 cents from its last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 fell 11 cents to $53.11 a barrel.
![Prices](/cache/2017/01/RUSSIA-168.0ddbd36a.jpg)
2017, January, 23, 18:55:00
OBSERVING THE AGREEMENT
All the countries are observing the agreement on cutting the output, Russia's Minister of Energy Alexander Novak told a news conference on Sunday.
![Prices](/cache/2017/01/RIG-14.dbe60cdc.jpg)
2017, January, 20, 19:00:00
OIL PRICES: ABOVE $54 O'ER
International benchmark Brent crude prices were up 68 cents at $54.84 a barrel at 0950 GMT.
U.S. West Texas Intermediate (WTI) crude oil futures were trading up 63 cents at $52 a barrel.
![Prices](/cache/2017/01/DEMAND-1.cf4f1fc8.jpg)
2017, January, 17, 18:45:00
DEMAND WILL UP
Brent for March settlement rose 27 cents to $55.72 a barrel on the London-based ICE Futures Europe exchange. The contract fell 56 cents, or 1 percent, to $55.45 a barrel on Friday. Prices slid 2.9 percent last week, the biggest drop since November. The global benchmark crude traded at a premium of $2.32 to March WTI.
![Prices](/cache/2017/01/OIL-480.9c27a193.jpg)
2017, January, 17, 18:40:00
2017: OPEC SEES STABILITY
OPEC Secretary-General Mohammed Barkindo forecast on Monday that stability would return to oil markets this year while price hawk Venezuela said it hoped its crude basket would rise to $70 in coming months.
![Prices](/cache/2017/01/PRICE-549.5dad9a83.jpg)
2017, January, 16, 18:45:00
OIL PRICES: ABOVE $55 AFRESH
Benchmark Brent crude oil LCOc1 was down 10 cents a barrel at $55.35 by 0915 GMT (04:15 a.m. ET) and U.S. light crude CLc1 fell 10 cents to $52.27.
![Prices](/cache/2017/01/RIG-13.77c5761a.jpg)
2017, January, 16, 18:35:00
2017: VOLATILITY OIL PRICES
Global oil prices will witness "much more volatility" in 2017 even though markets may rebalance in the first half of the year if output cuts pledged by producers are implemented.
![Prices](/cache/2017/01/RIG-11.5693e56d.jpg)
2017, January, 13, 18:50:00
OIL MARKET DEFICIT
The world could run short of oil by 2020 due to the recent sharp global downturn in upstream investment, Saudi Energy Minister Khalid al-Falih said Thursday.
![Prices](/cache/2017/01/EMIRATES-1.2539176a.jpg)
2017, January, 13, 18:45:00
EMIRATES URGE TO CUT
Suhail Al Mazrouei said on Wednesday that Opec and non-Opec producers who have agreed to restrict their output over the next six months need to demonstrate that they are being implemented in order for their initiative to stabilise oil prices.
![Prices](/cache/2017/01/RUSSIA-166.87d198f6.jpg)
2017, January, 13, 18:35:00
RUSSIA'S OIL SUCCESS
For every one dollar reduction in the price of oil, Russia suffers a staggering two billion dollar loss in its revenue. On top of the economic sanctions slapped on Russia following the annexation of Crimea, one may consider the record Russian oil production of 11.247 mbpd nothing short of a miracle.
![Prices](/cache/2017/01/PRICE-540.adfaf838.jpg)
2017, January, 12, 18:40:00
OIL PRICES: ABOVE $55 ANEW
Brent crude LCOc1 was up 50 cents at $55.60 a barrel by 1050 GMT (5:50 a.m. ET). U.S. crude CLc1 was up 35 cents at $52.60.
![Prices](/cache/2017/01/RUSSIA-164.1b2fc8dd.jpg)
2017, January, 12, 18:30:00
IMPORTANT FOR RUSSIA
The end of the global commodity super-cycle, particularly the sharp drop in oil prices - Russia’s main export -caused the Russian economy to slip into recession, ushering in a period of difficult economic adjustment. Limited economic diversification and heavy reliance on oil have made Russia vulnerable to terms-of-trade shocks.