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Posts Tagged "petroleum"

HomePosts Tagged "petroleum"

Oil prices dipped on Tuesday amid expectations of an increase in U.S. crude inventories, but signs of a fall in Iranian oil exports this month kept losses in check. International benchmark Brent crude for December delivery had fallen 6 cents or 0.07 per cent to $80.72 per barrel by 0654 GMT. U.S. West Texas Intermediate […]

Oil prices rose up on Tuesday, supported by concerns that tensions in the Middle East could lead to supply disruptions. Hopes that behind-the-scenes talks between the United States and China will prevent a looming trade war between the world’s two biggest economies also supported global markets, including crude oil futures. Brent sweet crude futures were […]

By Alex Lawler, Rania El Gamal and Shadia Nasralla VIENNA, Nov 30 (Reuters) – OPEC agreed on Thursday to extend oil output cuts until the end of 2018 as it tries to finish clearing a global glut of crude while signalling it could exit the deal earlier if the market overheats. Non-OPEC Russia, which this […]

* Nigeria working to end reliance on refined product imports * OPEC member aims to lift oil output to 1.8 mln bpd by Jan (Adds comments on output, OPEC)   By Wendell Roelf CAPE TOWN, Oct 24 (Reuters) – A refinery with capacity to process 650,000 barrels per day (bpd) of oil being built in […]

  • OPEC

Mohammad Barkindo, OPEC secretary-general, says crude oil demand will increase by 16 million barrels per day by 2040. Barkindo — who made no comments on the effect of the presence of new technologies like the electric car on oil prices — made this revelation at the Reuters Global Commodities 2017 Summit, 9 October 2017, London, UK. […]

The National Bureau of Statistics (NBS) says Nigeria has realised more than N118tn from crude production and refining from 1961. The NBS report, which has additional data from the Nigerian National Petroleum Corporation, collated its statistics from 1961 till 2014. “The petroleum statistics on crude oil production and oil refining reflects that a total 32.70 […]

* OPEC output rises by 50,000 bpd to 32.86 million bpd * Sept compliance by 11 countries with output targets 86 pct * Libyan, Iraqi output higher; Nigeria, Angola slip * For output by country, compliance details: By Alex Lawler LONDON, Sept 29 (Reuters) – OPEC oil output has risen this month by 50,000 barrels […]

The prices of crude oil hit a new 2017 high Monday, continuing a rally fuelled by improving demand and expectations that the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producers will extend output cuts. The International benchmark, Brent crude rose $1.52, or 2.7 per cent, to $58.38 per barrel, surpassing the highest level of […]

Oil prices rose on Wednesday in spite of a rise in US crude inventories with the market heading for its largest 3rd quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts. Brent crude futures rose to 56.20 dollars a barrel by 12:19 […]

Oil prices moved close to $56 on Monday, remaining near multi-month highs reached late last week. The number of US rigs drilling for new production fell and refineries continued to start up after getting knocked out by Hurricane Harvey. US West Texas Intermediate (WTI) crude futures were at 50.0 per barrel at 0547 GMT, and […]