Economy & Markets

Crude oil benchmarks gain on Saudi comments

Benchmark crude oil prices gained on markets in both London and New York Mar. 11 after Saudi Energy Minister Khalid al-Falih said production cuts led by the Organization of Petroleum Exporting Countries likely will continue until at least June. Speaking before the start of CERAWeek by IHS Markit in Houston, al-Falih told Reuters Mar. 11 that it would be too early to ...

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Higher Oil Prices Could Jeopardize India’s Economy

While oil exporting nations are benefiting from higher oil prices, oil importers face growing crude import bills that affect government finances. India—the world’s third-largest oil importer—is one of the biggest losers of the higher oil prices in recent months, as the increased price of oil widens its trade deficit, puts more upside pressure on inflation that threatens to exceed government ...

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NYMEX crude oil price reaches 4-month high

Light, sweet crude oil prices settled above $58/bbl on Mar. 13 after the US Energy Information Administration reported crude oil supplies, excluding the Strategic Petroleum Reserve, fell by 3.9 million bbl to 449.1 million bbl for the week ended Mar. 8. The drop was unexpected. Analysts surveyed by the Wall Street Journal in advance of the EIA weekly inventory report ...

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Oil prices up on lower OPEC, US production

Brent crude oil spot prices averaged $64/bbl in February, up $5/bbl from January and about $1/bbl lower than the same time last year. Declining estimated crude oil production for February from both the Organization of Petroleum Exporting Countries and the US contributed to a drawdown of 1.4 million b/d in global liquid fuels inventories, according to the latest Short-Term Energy ...

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Brent crude benchmarks fall to end week

Benchmark crude oil prices declined on markets in New York and London on Mar. 8 following comments that officials from the US and China have yet to schedule a summit to resolve their trade dispute (OGJ Online, Mar. 8, 2019). Terry Branstad, US envoy to Beijing, said negotiators continue trying to work out differences, including details on enforcement of any ...

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michael kors factory outlet fashion became unknowingly becoming popular. Earlier we have explained that fashion is different from fashion

Therefore, fashion designers are prepared to join forces to kill those supermodels whose appetites are getting bigger. They decided to train a group of newcomers. They succeeded, and the new people they chose quickly occupied the people’s eyes and appeared in more and more fashion shows and magazine covers. The models they selected were all relatively thin, and their chests ...

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Oil Market Highlights Crude Oil Price Movements

Oil Market Highlights Crude Oil Price Movements In March, the OPEC Reference Basket (ORB) increased by less than 0.5% to $63.76/b. Oil futures ended about 1% higher in a relatively volatile month, following US equity market movements and supported by robust oil demand growth forecasts, tightening US crude stocks and geopolitical tensions. ICE Brent was 99¢, or 1.5%, higher at ...

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5 Oil Price Predictions for 2018

It is the time of the year again for our highly anticipated oil price related predictions for 2018. As our millions of faithful readers are aware, we have a rather impressive track record -from predicting the formation of ISIS to the crash of oil prices; from presenting Trump’s potential oil policies to the forecast of OPEC’s gradual decline. We’ve been ...

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Southern Prescription for Development

Mostafa Ashaari Oil and gas journalist Last fall, National Iranian South Oil Company began to present a new template for their field development plans. These contracts are significantly distinct from the IPC contracts and in a sense, they are more complicated. NISOC got NIOC permission to sign contracts with domestic and foreign contractor companies regarding 9 reservoirs which are located ...

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