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Prices

Prices
2019, January, 14, 12:10:00

RUSSIA'S OIL PRODUCTION DOWN 30 TBD

PLATTS - Russia has already lowered its oil output by around 30,000 b/d compared with October volumes, used as a baseline under the latest OPEC/non-OPEC crude production agreement, and still plans to reach a cut of 50,000 b/d by the end of January, Russian energy minister Alexander Novak said Friday.

Prices
2019, January, 14, 11:55:00

IRAN'S OIL FOR INDIA DOWN 41%

REUTERS - India’s oil imports from Iran fell by 41 percent in December to 302,000 barrels per day oil (bpd), ship tracking data reviewed by Reuters showed, as pressure from U.S. sanctions took effect.

Prices
2019, January, 14, 11:45:00

OIL NEED INVESTMENT

PLATTS - Oil prices averaging $70/b in 2018 underscore the need for more investment in new supply, UAE energy minister Suhail al-Mazrouei told delegates at the Atlantic Council's Global Energy Forum in Abu Dhabi on Saturday.

Prices
2019, January, 11, 11:55:00

OIL PRICE: NEAR $62

REUTERS - International Brent crude futures LCOc1 were at $61.62 per barrel at 0749 GMT, down 6 cents, or 0.1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were 4 cents above their last settlement, at $52.63 per barrel.

Prices
2019, January, 9, 11:20:00

OIL PRICE: ABOVE $59

REUTERS - U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $50.42 per barrel at 0752 GMT, up 64 cents, or 1.3 percent, from their last settlement. That marked the first time this year that WTI has topped $50 a barrel. International Brent crude futures LCOc1 were up 69 cents, or 1.2 percent, at $59.41 per barrel.

Prices
2019, January, 9, 11:15:00

OPEC OIL PRODUCTION DOWN 630 TBD

PLATTS - OPEC crude production in December tumbled 630,000 b/d month on month, an S&P Global Platts survey of industry officials, analysts and shipping data showed Tuesday, but the organization still has much more cutting to do to reach its new quotas for 2019.

Prices
2019, January, 9, 11:10:00

SAUDI'S OIL PRODUCTION DOWN 400 TBD

MEOG - Saudi Arabia reportedly cut its crude production by more than 400,000 barrels per day (bpd) in December 2018. Saudi crude production sat at 10.65 million bpd (mbpd) that month, down from 11.07 mbpd in November.

Prices
2019, January, 9, 10:45:00

VENEZUELA'S OIL PRODUCTION: BELOW 1 MBD

PLATTS - The US Energy Information Administration forecasts that Venezuelan oil production will fall below 1 million b/d in the second half of 2019, according to Erik Kreil, an international energy analysis team leader with the EIA.

Prices
2019, January, 7, 10:00:00

OIL PRICE: NEAR $58

REUTERS - Brent crude futures LCOc1 were at $57.86 per barrel at 0538 GMT, up 80 cents, or 1.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $48.77 per barrel, up 81 cents, or 1.7 percent.

Prices
2019, January, 7, 09:50:00

IRAQ'S OIL PRODUCTION: 4.513 MBD

REUTERS - Iraq said on Friday it was committed to the OPEC+ output-cutting deal and would keep its oil production at 4.513 million barrels per day for the first half of 2019.

Prices
2019, January, 7, 09:45:00

LIBYA'S OIL REVENUE UP 78%

REUTERS - Libya’s oil revenue rose to $24.4 billion in 2018, up 78 pct from 2017, Libya’s National Oil Corporation (NOC) said in statement on Sunday.

Prices
2019, January, 7, 09:30:00

EUROPE'S GAS PRICES DOWN

BLOOMBERG - “The question is how much gas Russia ends up delivering into the European markets -- that will be a key determinant,” said Murray Douglas, research director for European gas at Wood Mackenzie Ltd. “Russia expressed publicly it wants to keep deliveries. That could generate a real collapse in prices in the summer months, when we will see a big LNG supply.”

Prices
2019, January, 4, 12:10:00

OIL PRICE: ABOVE $56

REUTERS - Brent crude futures LCOc1 were at $56.33 per barrel at 0638 GMT, up 38 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $47.73 per barrel, up 64 cents, or 1.4 percent.

Prices
2019, January, 4, 12:00:00

RUSSIA'S OIL PRODUCTION: 11.16 MBD

REUTERS - Russian oil production rose to a post-Soviet record high of 11.16 million barrels per day (bpd) last year on an annual average basis, data from its energy ministry showed.

Prices
2019, January, 4, 11:55:00

OIL PRICE LEVEL: $60 - 70

MEOG - A $60-70 per barrel oil price level appears adequate to incentivise sufficient long-term supply. The cost to develop both tight oil resources and conventional upstream oil projects has declined significantly since the oil price collapse of 2015-16.

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