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EIA Financial Review: 1st Qtr. 2019 Report Released

EIA Financial Review: 1st Qtr. 2019 Report Released

July 23, 2019 No Comments

Key findings; Brent crude oil daily average prices were 5% lower in first-quarter 2019 than in first-quarter 2018 and averaged $64 per barrel The 119 companies in this study increased their combined liquids production 4.3% in first-quarter 2019 from first-quarter 2018, and their natural gas production increased 2.3% during the same period Nearly two-fifths of […]

Oil Begins New Year With A Loss

Oil Begins New Year With A Loss

January 3, 2019 No Comments

Crude oil trading in the new year began with a slide, with Brent crude trading at US$53.12 a barrel at the time of writing, down 1.26 percent, and West Texas Intermediate at US$44.92 a barrel, down 1.08 percent. Benchmarks remained pressured by rising U.S. production, which, according to the EIA averaged 11. 7 million barrels […]

Crude Oil Price Movement to 20/12/18

Crude Oil Price Movement to 20/12/18

December 20, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at$55.13 a barrel Wednesday, 19 December 2018, compared with $56.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), […]

Crude Oil Price Movement to 19/12/18

Crude Oil Price Movement to 19/12/18

December 19, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $56.08 a barrel Tuesday, 18 December 2018, compared with $58.67 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light […]

Russia agrees oil output cut

Russia agrees oil output cut

December 3, 2018 No Comments

President Vladimir Putin said that Russia and Saudi Arabia had agreed to renew a pact on oil production cuts, as crude prices slump on global markets. Following talks at a G20 summit with Saudi Crown Prince Mohammed bin Salman, Putin reportedly stated, on Saturday the world’s two biggest exporters of crude “have agreed to extend […]

India Boosts African Oil Imports

India Boosts African Oil Imports

November 15, 2018 No Comments

India’s crude oil imports from Africa jumped in October to their highest level in three years as Indian refiners rushed to secure more African barrels amid uncertainties over the U.S. waivers for Iran’s oil, while a narrowing premium of Brent Crude prices over Dubai swaps made Brent-linked African grades more attractive for buyers in Asia. […]

$100 Oil Is A Distinct Possibility

$100 Oil Is A Distinct Possibility

September 26, 2018 No Comments

An oil price spike is starting to look increasingly possible, with a rerun of 2008 not entirely out of the question, according to a new report. The outages from Iran are worse than most analysts expected, and bottlenecks in the U.S. shale patch could prevent non-OPEC supply from plugging the gap. To top it off, […]

ENERGY NEWS HIGHLIGHTS WEEK of  08/08/18

ENERGY NEWS HIGHLIGHTS WEEK of 08/08/18

August 8, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $72.27 a barrel on Monday, 6 August 2018, compared with $72.07 the previous Friday, according to OPEC Secretariat calculations. The price of OPEC basket of fifteen crudes stood at $72.58 a barrel on Tuesday, 7 August 2018, according to OPEC Secretariat calculations. ———————————————————————————————————– China’s Oil […]

Monday, 2 July 2018

Monday, 2 July 2018

July 3, 2018 No Comments

OPEC daily basket price stood at $75.28 a barrel Monday, 2 July 2018 Oil prices rose on Today, Tuesday 3rd July, after Libya declared force majeure on some of its supplies, Libya’s National Oil Corporation (NOC) declared force majeure on loadings from Zueitina and Hariga ports on Monday, resulting in total production losses of 850,000 […]

Oil Prices Rise After EIA Reports a draw of 2.2 million barrels in U.S. crude oil inventories

Oil Prices Rise After EIA Reports a draw of 2.2 million barrels in U.S. crude oil inventories

May 10, 2018 No Comments

Amid rising oil prices following President Trump’s withdrawal from the Iran nuclear deal, the Energy Information Administration added to the bullish sentiment by reporting a draw of 2.2 million barrels in U.S. crude oil inventories. Analysts polled by IG had expected a moderate build of 160,000 barrels, while a Reuters poll suggested inventories would be […]

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