Thursday , October 19 2017

Tag Archives: oil

Saudi and Russia finally ‘agree’ to work together – Bid to stabilize oil market

The two biggest oil producers in the world last week signed an oil agreement to cooperate for stabilizing the oil prices. This is what every oil producer has been waiting for, as some sort of understanding was required to try stabilizing the oil market particularly the oil prices. The two …

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Oil analysts cut their price forecasts – Doubts grow over output freeze

LONDON, Sept 1, (RTRS): Oil analysts have cut their price forecasts for the first time since February, as the prospect of the world’s largest producers agreeing to freeze output dims and US production shows signs of gradually picking up. After five consecutive months of upward revisions, the 34 analysts and …

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Oil demand seen easing to 1.2m bpd in 2017

On our estimates, global oil demand will end up increasing by about 3.0mn b/d between 2014 and 2016, well above the recent historical averages. Interestingly, both developed (DM) and emerging markets (EM) have contributed to the rebound in oil consumption, with DMs making up about 20% of the incremental barrels …

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Oil prices below $50 per barrel – pure speculation – Supply high but demand still weak

Oil prices will not improve or go above $50 per barrel if the basic fundamentals remain the same. Supply is high but demand is weak. Nothing is likely to change in the near future especially when OPEC is continuing to pump extra barrels every day into the already-saturated markets. Financial …

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Partial privatization of Kuwaiti oil sector

According to local media, the acting oil minister has declared the intention of Kuwait Petroleum Corporation (KPC) to privatize four of its ten ‘K’ companies, namely Kuwait Oil Tankers Company (KOTC), Kuwait Petrochemical Industries Company (PIC), Kuwait Foreign Petroleum Exploration Company (KUFPEC) and Kuwait Petroleum International (Q8), of which about …

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Iraq ‘halts’ Basra Light oil loading after pipeline leak

SINGAPORE, July 15, (RTRS): Iraq has suspended Basra Light crude oil loading at two export terminals in the country’s south after a pipeline leak, four shipping and trade sources said on Monday. One of the sources said the suspension at the Basra Oil Terminal and the smaller Khor al-Amaya terminal …

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Prices hold $45-50 range despite Brexit

As June closed, oil prices posted their sixth consecutive monthly increase. As of June 30, ICE Brent, the international benchmark, was trading at slightly below $50 per barrel (bbl), while NYMEX West Texas Intermediate (WTI), the US crude marker, was ranging just under at $49.8/bbl. Brent finished the month at …

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Oil loses sight of $50 level – Analysts downbeat on outlook for price

LONDON, July 9, (AFP): Global oil prices dropped over the week, losing sight of the key $50 level, as worries about a supply glut and weak economic growth took oil to two-month lows. Oil enjoyed a modest recovery on Friday as bargain-hunters swooped in after prices tanked the previous day …

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Gold remains strong over week – Oil shrugs off Brexit slump

LONDON, July 2, (AFP): Oil approached the end of the week down slightly on a midweek rally but still well ahead of its lowest point after Britain’s shock vote to leave the European Union. North Sea Brent crude recovered from a Monday low of $47.16 to hit $49.68 by Friday. …

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