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Global oil consumption stagnates leaving prices under pressure

Global oil consumption has stalled since the middle of 2018, making lower oil prices inevitable despite the best efforts of Saudi Arabia and its allies to reduce production.

read more... 24/07/2019

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Russia’s oil output rebounds from 3-year-low

Russia’s oil production in the past few days has recovered to the ceiling that Moscow has pledged in the OPEC+ deal, Russian Energy Minister Alexander Novak said, after output had dropped to nearly 3-year lows in the 1st days of July, Oilprice reported.

read more... 22/07/2019

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EDF could shut power output at Golfech nuclear plant due to hot weather

French utility EDF could shut down production at its 2,600 megawatt capacity Golfech nuclear power plant in the south of France from Tuesday July 23, due to the high temperature forecast on the Garonne river.

read more... 22/07/2019

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Equinor and partners begin production from Norwegian Sea’s Trestakk field

Equinor Energy and its partners ExxonMobil and Vår Energi have started production from the Trestakk field in the Norwegian Sea on time and under budget.

read more... 17/07/2019

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Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

read more... 15/07/2019

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