Yahoo Finance LONDON – OPEC will stop publishing a calculation of the world’s demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group. The change reflects what has become long-standing cooperation between the members of the Organization of the Petroleum
US News LONDON – Oil prices extended gains on Friday and were on course for a second weekly gain, supported by geopolitical tensions in the Middle East, concerns over tightening supply and expectations about demand growth as economies improve. Brent crude was up 26 cents, or 0.3%, to $90.91 a barrel by 1252 GMT. U.S. West Texas Intermediate crude was
Nasdaq SINGAPORE – Oil rose on Monday as the prospect of demand recovery, led by China’s loosening of COVID-19 curbs and the United States’ decision to buy back oil for its state reserves, gained the upper hand over global recession fears. Brent crude futures LCOc1 gained 74 cents, or 0.9%, to $79.78 a barrel by 0458 GMT while U.S. West Texas
Reuters LONDON – Spanish energy major Repsol (REP.MC) lowered its oil price LCOc1 assumptions on Thursday, bringing its long-term outlook in line with most European rivals which have booked writedowns and leaving Equinor as a bullish outlier in the sector. Repsol took a writedown of $1.5 billion in second-quarter results, after it had already booked 5.7 billion euros ($6.61 billion)
Dallas Fed chief sees global energy markets retaining “fragile equilibrium” during the next few years Kaplan said that because of the recent years’ reduced investments in large offshore and oilsands projects that can take many years and many millions up to billions of dollars to accomplish, the global energy market has increased its dependence on future production growth from shale
EIA forecasts 11.8 MMBOPD for total U.S. oil production in 2019 A new IHS Markit outlook released today expects the Permian Basin’s crude oil production to more than double its 2017 record of 2.5 MMb/d to 5.4 MMb/d by 2023. This level of production would elevate the U.S. to a power exporter status that rivals Saudi Arabia, with total U.S.
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