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IEA report: Oil demand likely to reduce in 2017, non-OPEC countries seen rising production
The demand for oil is anticipated to decrease from 1.6 million barrels a day in 2016 to 1.4 million barrels a day in 2017 which will add more issues for the producers while they could try to increase prices, as indicated in the International Energy Agency report published earlier this week, based on the early 1st quarter indicators showing slowdowns in Japan, Germany, Korea and India in January 2017.
read more... 16/03/2017
Daily (16.03.2017): Oil prices record the first rebound in a week as U.S. stocks retreat
Crude oil prices rebounded for the first time in more than a week on Wednesday on an unexpected decline in U.S crude stockpiles and figures from the International Energy Agency (IEA) showing that OPEC cuts could trigger a crude deficit in the first half of 2017.
read more... 16/03/2017
Daily (15.03.2017): Crude oil plunges to 3-month low on Saudi Arabia output rise
Crude oil prices fell on Tuesday after OPEC unveiled an increase in global crude stockpiles and an unexpected output rise from its biggest member, Saudi Arabia, eroding nearly all gains since OPEC announced output reductions in November.
read more... 15/03/2017
Daily (14.03.2017): French spot power prices surge by 17% on higher demand
Crude oil prices posted modest changes on Monday, remaining under pressure from U.S. stocks which rose to record levels.
read more... 14/03/2017
Daily (13.03.2017): Oil slumps to three-month lows on rising U.S. rig count
Crude oil prices eroded gains on Friday, pushing prices to three-month lows on worries that OPEC-led production cuts have not yet reduced a global oversupply of crude.
read more... 13/03/2017