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Daily (1.03.2017): German spot power contract soars 20% on changeable wind patterns
Crude oil prices lost ground on Tuesday, but continued to trade in a tight range, as concerns about swelling U.S. crude stockpiles eclipsed OPEC production reductions. U.S. crude stockpiles have boosted for seven straight weeks. Forecasts for another weekly build of 3.1 million barrels fueled worries that demand growth may not be enough to absorb the oversupply.
read more... 01/03/2017
Iran to ink oil deal to sell Russia 100,000 bpd
Iran is set to sign a deal to Moscow within the next 10 to 15 days to sell 100,000 barrels per day of oil to Russia, according to Iranian Minister of Petroleum Bijan Zangeneh.
read more... 22/02/2017
EIA: US shale oil production to soar by 80,000 barrels a day in March
The EIA forecasts U.S. shale oil production to rise in March at the highest pace since May last year, given that energy companies are increasing their drilling activities, taking advantage from crude prices hovering over $50 a barrel.
read more... 14/02/2017
Daily (23.01.2016): Crude oil soars over 2% ahead of producers’ compliance meeting
Crude oil prices surged more than 2 percent on Friday on expectations that weekend‘s meeting of the world largest oil producers would establish a mechanism to verify compliance with a deal to reduce 1.8 million barrels per day (bpd) of output.
read more... 23/01/2017
Russia reduced oil output as part of the Vienna agreement
Russia started to cut oil production in early January by around 100,000 barrels per day following an agreement with OPEC to cap global crude output signed at the end of last year, as mentioned by sources in the industry.
read more... 10/01/2017