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Tag Archives: Crude

Experts expect Kuwait crude price to hover around $50 pb – Economic recovery in major importers to fuel demand for oil

KUWAIT CITY, Sept 19, (KUNA): Two oil experts expected Kuwait crude prices to remain in the range of USD 50 pb in the coming few months based on the market outlook and the supply/demand mechanism. A range of factors contributed to the rising slant in prices and stability of the …

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Saudi Arabia curtails crude shipments to US – US gasoline surplus eliminated by trade flows

LONDON, July 22, (RTRS): Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain visible inventories and support prices. The United States imported an average of 524,000 barrels per day (bpd) of crude from Saudi Arabia in the week …

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Crude rallies in May on supply cuts – Outlook for non-OPEC supply growth in 2016 lowered

Bullish sentiment propelled oil prices to their fifth consecutive monthly gain in May. Oil prices continued their bull run in May, closing higher for the fifth month in succession. Brent crude, the international benchmark, closed at $49.6 per barrel (bbl), up 3 percent month-on-month (m/m). Brent actually breached $50 during …

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Half of global crude ‘glut’ may disappear if deal works: Russia – Moscow sees its 2016 oil output up 1.5 pct y/y

KRASNOYARSK, Russia, Feb 19, (RTRS): The global oil market is over-supplied by around 1.8 million barrels per day (bpd), but that glut could be halved if a deal to freeze oil production at last month’s levels takes effect, a top Russian energy official said on Friday. Leading OPEC member Saudi …

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S&P affirms Kuwait ratings at ‘AA/A-1+’ – Outlook stable

LONDON, Feb 13: Standard & Poor’s Ratings Services affirmed its ‘AA/A-1+’ long- and short-term foreign and local currency sovereign credit ratings on Kuwait. The outlook is stable. In mid-January 2016, Standard & Poor’s materially lowered its oil price assumptions for the period 2016-2019. Prices for crude oil in spot and …

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Saudis slam ‘irrational’ oil price – Crude hits new 12-year low under $27 on supply glut

LONDON, Jan 23, (AFP): The world’s biggest oil exporter Saudi Arabia declared this week that ultra-low oil prices were “irrational” as crude hit new 12-year lows under $27 on the global supply glut. The market’s dramatic slump culminated on Wednesday with New York crude collapsing to $26.19 per barrel – …

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Crude oil price below $40 is not sustainable – Pure Speculation

It is not possible nor practical for oil prices to fall below $40 a barrel. Everybody is predicting that oil prices will decline to as low as $30 or even $25, but this is pure speculation just to gain more publicity or to be known as the one who forecasted …

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Crude oil prices to remain low for long time to come – OPEC not responsible for weak prices

Regardless of the outcome of the OPEC meeting, the oil prices will remain low for a long time to come. However, there is no consensus concerning what cheap oil is and how it can be measured. Is it the lowest cost for producing one barrel of conventional oil, which is …

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