Latest news
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
Shell to put another costly project to the sword as oil price crashes
The oil major Royal Dutch Shell said it would axe another costly oil project, just weeks after it suddenly abandoned a $7 billion drilling venture in the Arctic.
read more... 03/11/2015
Daily: British gas prices tumble on milder weather outlook, weaker consumption
Crude oil prices declined on Monday after pessimistic Chinese factory data intensified worries about energy demand in the No.2 economy, while record high Russian crude output helped to ease the global supply glut. Brent crude declined by 77 cents, or 1.6 percent, to settle at $48.79 a barrel. U.S. crude futures slipped 45 cents, or 1 percent, to close at $46.14.
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
Daily: Crude oil drops after pessimistic U.S. growth data
Crude futures fell in Asian trading on Friday after the publishing of a report showing that U.S. economic growth had slowed sharply, raising worries about sluggish demand in a world saturated with oil.
read more... 30/10/2015