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Iran to ramp up oil production by 500,000 barrels per day one week after sanctions
Iran vows to ramp up its crude oil production within one week once international sanctions are removed and decided to recover its lost market share, said Bijan Namdar Zanganeh, Iran’s energy minister.
read more... 20/10/2015
Daily: Europe spot power prices up on stronger demand, lower French nuclear capacity
Crude oil declined by about 4% on Monday, dragged down by a decrease in gasoline futures which added to pressure to a weakening market due to a slower growth in China and signs that Iranian oil will return to the market soon after the signature of its nuclear deal. The dollar appreciation and a weaker equity market on Wall Street weighed on the petroleum complex. Brent crude fell $1.85, or 3.7 percent, to settle at $48.61 a barrel. WTI crude lost $1.37, or 3 percent, to close at $45.89, in lighter volume ahead of Tuesday's expiry for November spot contract.
read more... 20/10/2015
Austria’s OMV to be hit with charges of €1bln due to a collapse in oil prices
Austria’s OMV has revised its oil price assumption for next years and decided to take special charges in the third quarter of the year of around €1billion ($1.1 billion) in its upstream business.
read more... 19/10/2015
Daily: Crude oil prices recover after four days of sharp losses
Crude oil price boosted by around 2% on Friday as traders covered short positions following four days of considerable losses and after Baker Hughes Inc unveiled that U.S. oil rig count plunged for a seventh week in row. U.S. crude rose 88 cents to settle at $47.26 per barrel, down almost 5 percent on the week. Brent for December delivery increased by 73 cents to close at $50.46 a barrel, down about 4 percent on the week.
read more... 19/10/2015
Daily: Oil prices settle down for fourth consecutive day, dragged down by large U.S. stockpile hike
Crude oil prices declined on Thursday after the U.S. government unveiled a larger-than-expected crude inventories increase, slashing prices for a fourth consecutive day. U.S. crude's front-month contract for November delivery decreased by 26 cents, or 0.6 percent, to settle at $46.38 a barrel. Brent crude for November delivery declined 44 cents to settle at $48.71 before the contract’s expiration. Brent for December delivery, which will become the spot contract from Friday, rose by 4 cents to close at $49.73.
read more... 16/10/2015