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Daily: Crude oil prices rebound by 4% on production disruption concerns in Brazil, Libya
Crude oil prices rebounded by about 4 percent on Tuesday as a hike in U.S. gasoline and diesel after a disruption on a key pipeline system added further support to oil markets already buoyed by an industry strike in Brazil and force majeure for Libyan crude loadings. Brent crude edged $1.75 higher, or 3.6 percent, to settle at $50.54 a barrel, after hitting a peak of $50.91 during the session. U.S. crude boosted $1.76, or 3.8 percent, to close at $47.90. The session's peak was $48.36.
read more... 04/11/2015
New record for Russia in terms of oil output
Russia has set a new post-Soviet record in terms of oil production reaching something like 10.7 million barrels per day in October, or more than 530 million tons. Meanwhile, Saudi Arabia’s oil production arrived at 10.1 million barrels per day in the same period.
read more... 03/11/2015
Daily: Crude oil settles higher, up 3% over the month
Crude oil futures closed higher on Friday to register a monthly gain of more than 3% on increasing expectations that crude production will soon drop. Oil-services firm Baker Hughes unveiled a weekly decline in the number of active rigs drilling for oil, but economic data intensified worries about U.S. energy demand, curbing oil increase for the session. WTI crude for December delivery closed at $46.59 a barrel on the New York Mercantile Exchange, up 53 cents, or 1.2%, for the day. Brent crude on London’s ICE Futures exchange rose by 76 cents, or 1.6%, to close at $49.56 a barrel.
read more... 02/11/2015
Germany will begin the transfer to coal power reserve in winter 2016
German utilities RWE, Vattenfall and Mibrag will begin cutting their coal-fired electricity production at the start of winter 2016, transferring this capacity instead to the country's power reserve as part of a plan to reduce carbon emissions, as stated by the government.
read more... 26/10/2015
Iran to ramp up oil production by 500,000 barrels per day one week after sanctions
Iran vows to ramp up its crude oil production within one week once international sanctions are removed and decided to recover its lost market share, said Bijan Namdar Zanganeh, Iran’s energy minister.
read more... 20/10/2015