Prices
![Prices](/cache/2015/12/OIL-161.f4703e25.jpg)
2015, December, 29, 20:00:00
2016: OIL MARKETS BALANCE
“We see the market balancing some time in 2016. We see demand ultimately exceeding supply...Prices in due course will respond,” he said.
![Prices](/cache/2015/12/OIL-162.19cc3b1c.jpg)
2015, December, 29, 19:55:00
2016 WILL BE WORSE
For oil and gas producers, 2016 will be a year of cost-cutting, restructuring, refinancing when it is possible, and in some cases bankruptcy when it is not. Merger and acquisition activity, which was sluggish this year because of disagreements over valuations, may pick up speed.
![Prices](/cache/2015/12/OIL-163.68ebef0d.jpg)
2015, December, 29, 19:45:00
SAUDI CUTS & RAISES
Government ran a record deficit of nearly 367 billion Saudi riyals ($98 billion) this year, or about 15% of gross domestic product, as low oil prices suppressed revenue, pushing it to cut planned spending by 14% in 2016 amid expectations that income from oil sales will remain under pressure.
![Prices](/cache/2015/12/EGYPT-5.6030ea23.jpg)
2015, December, 29, 19:40:00
EGYPT SEEKS MONEY
Egypt is obliged to pay for LNG shipments within 15 days of a shipment's unloading. Now the Egyptian authorities are looking to extend that timeframe. Egypt used to get financial support from the Gulf Cooperation Council (GCC) countries and probably will still get it. However, due to lower energy prices, the support now is more limited. Egypt buys six to eight LNG cargoes monthly, each worth $20-$25 million. It is now in arrears of $350 million for that energy, one source estimated.
![Prices](/cache/2015/12/CHINA-24.b44d351c.jpg)
2015, December, 25, 19:50:00
CHINA PIPELINES: $43 BLN
Beijing has indicated it could ultimately form a separate pipeline monopoly to encourage the development of China’s domestic natural gas industry which has so far been limited by CNPC’s stranglehold over the majority of the country’s pipeline network.
![Prices](/cache/2015/12/OPEC-27.caf38ad1.jpg)
2015, December, 24, 19:45:00
OPEC: 2015: $55
Only a gentle recovery in oil prices is seen. OPEC's basket of crude oils is assumed in the report at $55 in 2015 and to rise by $5 a year to reach $80 by 2020.
![Prices](/cache/2015/12/RUSSIA-49.d004bbde.jpg)
2015, December, 24, 19:40:00
RUSSIAN OIL UP
The trend demonstrates Russia's resolve not to cut output despite calls from OPEC to independent producers to curb production to support falling prices.
![Prices](/cache/2015/12/SAUDI-30.d1177571.jpg)
2015, December, 24, 19:35:00
SAUDI CUTS BUGET
The oil-rich kingdom spent hundreds of billions of dollars at home in the past decade to bolster its economy and dole out subsidies that provide cheap energy and food for its 30 million people, as it enjoyed years of high crude prices. But the price of oil has fallen by more than half since the middle of last year, forcing the government to dip into reserves, reassess its spending plans and look for ways to diversify sources of revenue.
![Prices](/cache/2015/12/USA-131.4d609115.jpg)
2015, December, 24, 19:20:00
U.S. BANKS STRESS: $50 BLN
The US Federal Reserve subjects banks with at least $50bn in assets, including the US arms of foreign banks, to an annual stress test, that is designed to ensure they could keep trading through a deep recession and a big shock to the financial system.
![Prices](/cache/2015/12/OIL-157.7720dbf4.jpg)
2015, December, 23, 20:00:00
OPEC PREDICTS $95
Organization of the Petroleum Exporting Countries said it expects the price of its basket of crudes to rise to $70 a barrel in 2020 and $95 a barrel in 2040, compared with$30.74 a barrel on Monday.
![Prices](/cache/2015/12/OIL-160.db40e087.jpg)
2015, December, 23, 19:55:00
OPEC: OIL PRICE $80
OPEC assumes that prices will rise to average $80 a barrel in nominal terms in 2020, and $70.70 in real terms. Last year it had anticipated nominal prices of $110 and real levels of $95.40. That means the value of the group’s output in 2020 would be $218 billion less than estimated a year ago, when it first embarked on the policy to protect market share.
![Prices](/cache/2015/12/OIL-158.1034981a.jpg)
2015, December, 23, 19:50:00
OPEC: OIL DEMAND UP 97 MBD
Global energy demand is set to increase by almost 50% in the period to 2040, with the overall energy mix continuing to be led by fossil fuels at almost 78%
![Prices](/cache/2015/12/SHELL-15.8f22f61c.jpg)
2015, December, 23, 19:25:00
SHELL CUT PLAN BY $2 BLN
Shell has already taken action to cut costs and reduce spending this year by $12 billion, but Tuesday’s announcement of a $33 billion target for next year is $2 billion below the company’s previous guidance.
![Prices](/cache/2015/12/OIL-156.37a9e680.jpg)
2015, December, 21, 20:00:00
OPEC: BELOW $100
OPEC said it now assumes the price of the reference basket of crude oil produced by its members would be $70 a barrel in 2020, rising to $95 a barrel by 2040.
![Prices](/cache/2015/12/OPEC-26.adc4a64f.jpg)
2015, December, 21, 19:45:00
OPEC CAN'T CUT
"OPEC can't take a unilateral decision, for example, to cut production and others ... raise production. Either we all go to cut production to really defend prices or we have to wait and see,"