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Daily (15.08.2017): Oil prices dropped by 2.6% on Monday of weakening Chinese oil demand
Oil prices decreased on Monday steeper than expected on raising concerns that a glut of refined fuel products might weaken Chinese demand for oil. Also, U.S. drilling rig data published by Baker Hughes on Friday showed explorers boosted oil drilling capacity. Oversupply has been supported by rising production in Libya, which is trying to regain its pre-war oil production levels. Brent fell by 2.63% to close at $50.73 a barrel, while WTI price declined by 2.52% to end at $47.59 a barrel.
read more... 15/08/2017
Daily (11.07.2017): British NBP spot price declined by 2.8% on Monday
Oil rose modestly on Monday, lifted by a healthy demand expected in the coming weeks. However, increased drilling activity in the US and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook. Brent crude rose by 0.36% to end at $46.88 a barrel, while the WTI price increased by 0.38% to $44.40 a barrel.
read more... 11/07/2017
Cuadrilla fracking site blocked by demonstrators
A fracking site in Lancashire has been blockaded by campaigners in protest to the controversial drilling process.
read more... 06/07/2017
UK wishes to revive gas extraction in oldest region of North Sea oil basin
UK's Oil and Gas Authority (OGA) published on Thursday an eight-step program for oil companies with phases to follow to discover the southern North Sea gas deposits difficult cu reach, where drilling for fossil fuels began over 50 years ago.
read more... 23/06/2017
Norway: first offshore drilling rig using 100% onshore power to cut emissions
An offshore drilling rig will be powered entirely from electricity produced onshore which could be a world first in a move to reduce dioxide emissions.
read more... 12/06/2017