OPEC members and non-OPEC countries agree to extend oil production cuts till December 2018
OPEC members and non-OPEC countries agree to extend oil production cuts till December 2018.
US crude oil inventories down 1.7% for week ending August 27
- Commercial crude oil stocks decrease by 7.2 million barrels, higher than market expectation of 2.8 million-barrel drawIraqi oil facilities secure: OPEC Secretary General
- Iraq can reach 100% compliance with OPEC cuts in time despite current tensions: OPEC Secretary General saysGlobal oil supply falls in March 2019
- OPEC crude oil production decreases by 534 thousand barrels per day to average 30.02 million barrels per day, data showsOil prices on rise with Libya tensions & supply cuts
- IMF lowering global growth forecast could keep some cap on rising crude oil pricesUS revises up oil price forecasts for 2019
- Energy Information Administration revises up Brent oil by $2 per barrel for this yearSaudi Arabia to continue with U.S. dollar in oil trade
- Trading in dollar serves well kingdom's financial and monetary policies objectivesShell to invest $300 million to tackle carbon emissions
- Investment to focus on high quality nature-based solutions and the rebuild of critical ecosystemsOil prices mixed as Brent crude hovers around $71
- Benchmark reaches $71.34 a barrel -- its highest level this yearLondon drivers face new emission charges
- Driving in central London just got more expensive for vehicles that are not up to new emission standardsAnadolu Agency launches energy journalism training
- Twenty reporters from Middle East, South America, Eurasia and North Africa will participate in two-week-long programEnergy demand in 2018 shows fastest growth in decade
- Global carbon emissions reached historic levels rising by 1.7 percent year on yearBrent oil above $70 a barrel with tight global supply
- The benchmark gained 31 percent since the beginning of 2019Number of US oil rigs rises by 15 to 831
- Despite increase in weekly oil rig count, crude prices rise on FridayUS issues fresh Venezuela oil sanctions
- Penalties target 2 companies, 34 vessels sanctionedBrent down slightly to $69 w/e April 5 from Wed's peak
- Global oil prices push near highest levels in 5 months on Wednesday amid tight supply and positive China, US economic dataEC says Volkswagen, BMW, Daimler broke antitrust rules
- Europeans may have been denied the opportunity to buy cars with best available technology, EU commissioner saysUS boosts crude oil stocks and output
- Oil stocks rise by 7.2 million barrels, crude production inches forward by 100,000 barrels per day for week ending March 29Oil prices climbing towards five-month high
- Brent crude increases to $70 on Wednesday, while WTI rises to $62.85Iraq's oil exports up over 3 percent in March
- More than 104.6 million barrels exported last month, according to Oil MinistryGlobal oil prices see highest levels of 2019
- Shortages from Venezuela, Iran and OPEC+ as well as drops in U.S. shale production push oil prices to new highsBrent rises to $68.44 at week beginning April 1
- Fall in U.S. oil rigs numbers to 816 in week ending March 29 pushes oil prices higherNumber of US oil rigs falls by 8 to 816
- Following decrease in weekly oil rig count, crude prices show gains on FridayBrent surpasses $68 at week ending March 29
- OPEC supply cuts and US sanctions put upward pressure on crude oil prices, but concerns over demand limit oil gainsTurkey's energy import bill up 2.7% in February 2019
- Total imports cost nearly $13.59 billion in February, with energy accounting for 25.32 percentEU sets 37.5% CO2 reduction target for new cars by 2030
- New legislation also sets a CO2 reduction target of 31 percent for new vans by 2030Saudi Aramco to buy 70 pct stake in petrochem. firm SABIC
- Riyadh-based companies have petrochemicals production capacity of 17 and 62 million tons per year, respectivelyTurkey's crude oil imports up 48.1% in January 2019
- Total oil product imports rise by 18.4 percent to 3.1 million tonnesGlobal energy demand hits fastest pace this decade: IEA
- Stronger heating/cooling demand leads to greater energy growth worldwide, International Energy agency report saysUS tells Russia it will not 'stand idly’ on Venezuela
- Secretary of State Mike Pompeo urges Moscow 'to cease its unconstructive behavior,' State Dept. saysGeopolitical shifts play key role in energy transition
- World Economic Forum report highlights major energy events in 2018Indian consortium to explore Abu Dhabi Onshore Block 1
- ADNOC awards oil, gas exploration rights in large block near Ruwais refining, petrochem hub to Indian Oil & Bharat PetroleumBrent falls to $66.44 on US recession fears on Mar. 25
- Brent crude traded $66.44 at 0712GMT on Monday, and WTI registered as $58.67 at the same timeADNOC inks downstream MoUs with OMV, Borealis
- Abu Dhabi National Oil Company aims to explore new collaboration opportunities in downstream sectorBrent sees fall to $66 at week ending March 22
- Brent crude traded $67.22 at 0639 GMT on Monday, and WTI registered as $58.52 at the same timeOil discoveries in SE Turkey to add $700M to economy
- Turkey discovers oil in three fields in southeastern provinces of Siirt and DiyarbakirUS oil stocks fall, production up for w/e March 15
- Crude production increases by 100 thousand barrels while inventories fall by 9.6 million barrelsUS sanctions on Venezuela may worsen crisis: UN
- US sanctions on Venezuela may worsen South American country's economic situation, UN human rights chief warnsEni announces oil and gas discovery in North Sea
- Preliminary estimates place size of discovery as 63-132 thousand barrels of recoverable oil equivalent in license 869Norway's petroleum sales decrease in February
- Country's total sales volume of petroleum products for February drops year-on-year by 7.9 percent to 558 million litersVitol to acquire asphalt trading business VALT
- Company to acquire a further 50 percent of VALT, which is set to make Vitol a leader in global asphalt tradeOPEC recommends cancellation of scheduled April meeting
- JMMC schedules May meeting ahead of OPEC June meeting, in which decision is due to be taken on oil output cuts for 2H19Japan's Inpex wins Abu Dhabi onshore exploration bid
- ADNOC awards Inpex Corporation oil and gas exploration rights for Abu Dhabi Onshore Block 4 in UAENumber of US oil rigs falls by 1 to 833 w/e Mar. 15
- Despite slight drop in weekly oil rig count, oil prices fell on FridayBaku, Moscow mull Russian oil to Turkey's STAR refinery
- Azerbaijan's Energy Minister and Russian Energy Minister discuss supplies for $6.3 billion STAR facility in IzmirBrent sees rise to $67.23 at week beginning March 18
- Losses in Venezuela and lower Saudi Arabian and Iraqi output brought OPEC's production in February to lowest in four yearsBrent sees slight rise to $66 at week ending March 15
- Supply cuts put upward pressure on crude oil pricesGlobal crude output falls in February '19
- February OPEC output drops by 240 thousand barrels per day, on losses in Venezuela and lower output from Saudi Arabia & IraqOil prices seek balance with supply cuts, low demand
- Prices fluctuate with lower supply from major producers and unease over weakening global oil demand this yearEni makes new gas discovery in offshore Egypt
- Thirty three meters of gross sandstone pay with good petrophysical properties found in Nour-1 wellGlobal oil supply falls in Feb. '19
- OPEC crude oil production decreases by 221 thousand barrels per day to average 30.55 million barrels per day, data showsUS oil stocks, production fall for week ending March 8
- Crude inventories down by 3.9 million barrels, against market estimate increase of 2.6 million barrelsBP, Environmental Defense Fund join to cut methane emissions
- Collaboration aims to reduce methane emissions across oil and gas industryOil prices up with fall in US crude stocks, production
- Decline in inventories and output alleviates some investors' worries over rising, global oversupplyOil prices up as US lowers crude production estimates
- Downward revision eases worries by anticipating that glut of supply in global market will be less than previously predicted
14.03.2019
Oil
US crude exports to catch up with Saudi Arabia by 2024
- Crude exports estimated to reach 9 million barrels per day in five years, International Energy Agency saysUS energy admin. increases Brent oil forecast for 2019
- Brent price is expected to average $63 per barrel this year, up $2 a barrel from previous month's estimateUS: Pompeo slams nations using energy for ‘malign ends’
- US top diplomat wants to ‘punish bad actors’ in international arena, urges support for US in oil industryOil prices up as Iran, Venezuela production due to fall
- Two countries are expected to account for a total of 1.76 million barrels per day in lost productionBrent sees slight rise to $66.27 on Monday, Mar. 11
- Increase due to fall in number of US oil rigsNorway's wealth fund seeks to divest oil, gas holdings
- Goal is to reduce vulnerability to permanent oil price decline, says finance ministerNumber of US oil rigs falls by 9 to 834
- Despite decrease in weekly oil rig count, crude prices slump on US job market slowdown, European growth concernsBrent sees slight fall to $65.08 at week ending Mar. 8
- Crude oil prices show slight fall on Friday with lower Eurozone growth estimates and declines in Chinese exportsGlobal oil rig count rises in February: Baker Hughes
-Total number of oil rigs worldwide rises 1.5 percent to 2,306 in February 2019 from same period last yearOil down with weak Eurozone estimates, Chinese exports
- Chinese exports fall in February, signaling future weaker oil demandExxonMobil expects earnings to rise 140 percent by 2025
- Company says estimated total earnings potential has increased by around $9 billionRise in oil prices limited by surge in US crude stocks
- Crude stocks in US soar by 7.1 million barrels compared to market expectation of 1.2 million barrel increaseUS crude stocks supersede market forecast w/e March 1
- Crude inventories jump 7.1 million barrels against market estimation of 1.2 million barrelsOman’s gas production to surpass oil by 2023: Rystad
- Country's gas share in its oil-gas mix is estimated to be over 50 percent in 2025, from around 35 percent in 2015ExxonMobil, Chevron to ramp up Permian output in 5 yrs.
- Companies plan to increase output in oil-rich basin by around 1 million barrels a day eachOil prices down as US majors plan to raise production
- US crude oil output stands at record high level of 12.1 million barrels a dayAker Energy finds oil offshore Ghana
- Company says it will continue drilling to verify estimated volume of resourcesOil prices down as China lowers growth forecast
- China lowers growth expectation for 2019 to between 6-6.5 percent from previous estimate of 6.5 percentShell joins consortium for waste-to-chemicals facility
- Facility will be first in Europe to make chemicals and biofuels out of non-recyclable waste materialsUS shale output to grow 15% in 2019 with 5% lower capex
- Shale operators aim to prioritize cost discipline over aggressive growth, Rystad Energy partner saysUS biofuels trade, prod. to remain stable through 2020
- Ethanol exports have accounted for an increasing share of production since 2013, administration saysExxonMobil to enlarge Louisiana facility's production
- Expansion is part of $20 billion investment to build manufacturing facilities in US' Gulf regionEquinor makes small oil discovery in North Sea
- Resources are estimated at between 12 and 28 million barrels of recoverable oilBrent increases to over $65 at week beginning March. 4
- Crude oil prices finished higher for week ending March 1 with OPEC's determination to continue cutting productionOil prices end week higher as OPEC sticks to cuts
- Prices recover after Trump's comment to OPEC warning of too high oil prices
03.03.2019
Oil