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US crude oil production set to increase in H2United States Energy Information Administration (EIA) forecasts that US crude oil production will average 9.4 million barrels per day (bpd) in the second half of 2017, 340,000 bpd more than in the first half of 2017. More… |
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Don’t underrate impact of Harvey on oil: BarclaysHurricane Harvey, the first major storm to target the US Gulf Coast since 2012, could make it more destructive to US crude and product supplies as well as port facilities than the market is currently assuming, said Barclays in a new report. More… |
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Oil marks fresh 6-1/2-year lows on China, oversupplyBrent and US crude oil futures hit fresh 6-1/2-year lows on Monday to drop below the latest supports of $45 a barrel and $40 a barrel each as investors fretted that a slowing Chinese economy will lead to weaker demand amid a global supply surplu More… |
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Stocks post worst week in years on China fearsWorld stock markets tumbled on Friday and US oil prices dove briefly below $40 a barrel sparked by fresh evidence of slowing growth in China, sending investors scurrying to the safety of bonds and gold. Stocks on Wall Street and i More… |
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US oil production likely to fall by end of 2015Unless prices recover, the US oil production will start falling before the end of 2015 as new drilling is insufficient to replace declining output from wells completed in 2013 and 2014, said an expert. Future production depends on More… |
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US oil in longest losing streak since 2009Brent futures held steady above $111 a barrel on Friday on signs of an improving demand outlook, although the benchmark is still set to post its biggest weekly loss since early January as supply worries that have rattled oil markets for weeks re More… |
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US oil imports to halve by 2020Rising oil and gas production and improving energy efficiency in the US could slash its oil imports in half by the end of 2020 from levels seen two years ago, the West's energy watchdog said on Wednesday. The Paris-based Inter More… |
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Oil holds above $108 on demand hopesUS oil continued to trade above Brent futures on Monday after flipping to a premium for the first time since 2010 in the previous session, while both benchmarks held firmly above $108 a barrel amid hopes of a revival in global demand growth. More… |
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US oil boom 'will meet new global demand'US shale oil will help meet most of the world's new oil demand in the next five years, even if the global economy picks up steam, leaving the need for Opec crude barely changed from today' More… |
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Brent slips to $126 as Saudi fears easeBrent crude futures slipped to $126 on Friday, coming off an 11-month high, as fears of a supply disruption from Saudi Arabia eased and the market focused on lower seasonal demand for oil in the coming months. Oil prices had surged nearly More… |
