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Daily (09.12.2019): Brent posts a 3.1% weekly gain following OPEC decision to reduce output target
Crude oil prices soared on Friday as OPEC+ agreed in Vienna to extend output cuts by 500,000 barrels per day in early 2020. Consequently, Brent crude rallied by $1, or 1.6%, to settle at $64.39. It recorded a weekly hike of 3.1%. U.S. WTI crude rose by 77 cents, or 1.3%, to $59.20 per barrel. For the week, WTI jumped 7.3%, after a 4% rise reached on Wednesday after data indicated sharp declines in U.S. crude inventories.
read more... 09/12/2019
Daily (06.12.2019): German spot power down 26% on Thursday on strong wind output
Crude oil prices evolved differently on Thursday, with WTI prices ending flat and Brent slightly up as traders awaited a decision on output from major oil producers. Brent crude rose by 39 cents, or 0.6%, to settle at $63.39 a barrel, after a hike of 3.6% in the previous session. WTI crude remained unchanged at $58.43 a barrel on the NYMEX, after surging by 4.2% the previous day. A committee of oil producers led by Saudi Arabia and Russia recommended on Thursday that the group increase their current oil production cuts by 500,000 barrels a day.
read more... 06/12/2019
Norway's Johan Sverdrup oil giant producing well over 300,000 barrels a day, six weeks from start-up
Norway's giant Johan Sverdrup oil field is producing at rates "well above" 300,000 b/d, state-controlled Equinor said Tuesday, as official data showed the country's oil output starting to recover.
read more... 20/11/2019
BP: Total production from Azeri-Chirag-Gunashi oil field exceeded 3,6 billion barrels
A total of 3,6 billion tons of oil has been produced since the commissioning of operation of Azeri-Chirag-Gunashli (ACG) fields, according to BP.
read more... 14/11/2019
Equinor makes Norway oil, gas find of up to 100 million barrels
Norwegian energy major Equinor and its partners have found oil and gas at the Echino South prospect near the Fram field in the North Sea, the company said on Wednesday.
read more... 06/11/2019