oil prices

Global Markets: Saudi Arabia Cuts Oil Pricing To Lure New Buyers

Posted on August 3, 2018 by Mozambique Resources Post

Saudi Arabia is cutting the September official selling prices (OSPs) for all its grades and to all markets except for to the United States, as it aims to entice more buyers as it increases oil supply to offset production and export disruptions elsewhere.

Africa Oil & Gas: Ghana to Buy Contracts to Protect It From High Oil Prices

Posted on June 12, 2018 by Mozambique Resources Post

(Bloomberg) – Ghana will buy contracts to protect it from higher oil-product prices in the third quarter as the West African nation seeks to curb volatility in what consumers pay at the pump amid rising costs of the fuel in international markets.

Global Markets: Oil Prices Are Sensitive to Drilling Activity

Posted on March 2, 2018 by Mozambique Resources Post

WTI is $63/bbl, down from its January high near $67/bbl. Brent is selling near $67/bbl, with a premium $3.75/bbl over WTI. Its January high was over $71/bbl. The Brent premium blew out to over $7/bbl in December and has contracted since.

Global Markets: Oil Prices Rise After EIA Reports Crude Draw

Posted on February 23, 2018February 23, 2018 by Mozambique Resources Post

After a surprise crude oil inventory draw reported by the American Petroleum Institute, the Energy Information Administration strengthened the good mood by confirming the draw, and a much larger one than API’s 907,000 barrels.

Global Markets: Oil Is Looking Unstoppable as Hedge Funds Take Bets to New High

Posted on February 5, 2018February 5, 2018 by Mozambique Resources Post

(Bloomberg) – The enthusiasm in the oil markets is breaking records. Hedge funds reported record wagers on continued price increases for both U.S. and global oil benchmarks, along with gasoline and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best January since 2006. “There is a lot of interest in the direction of crude oil,” Rob Thummel, managing director at Tortoise Capital Advisors LLC, which handles $16 billion in energy-related…

Global Oil & Gas: “Oil Prices Have Limited Upside” – analysis

Posted on January 31, 2018 by Mozambique Resources Post

Too much, too soon. The 40 percent increase in oil prices since August is likely to stimulate a strong production response, with a typical lag, sufficient to keep oil inventories elevated above the 5-year average for all of 2018, despite the extension of OPEC’s production cut to the end of the year. It may even undermine OPEC compliance and negatively impact oil demand.

Global Industry: Oil Prices Rise After Strong Crude Inventory Draw

Posted on December 21, 2017 by Mozambique Resources Post

The Energy Information Administration reported yet another inventory draw for last week, making it the fifth one in a row with falling inventories. The authority said inventories had gone down by 6.5 million barrels, to 436.5 million barrels.

Africa Oil & Gas: Low price of oil leads Sonangol to cancel public tenders

Posted on May 17, 2017 by Mozambique Resources Post

Angola’s state oil company Sonangol has cancelled public tenders for blocks in the onshore areas of the Kwanza and Lower Congo basins due to changes in the assumptions underlying its launch, Sonangol said in a statement.

Opec tells the market: we’re back – Petroleum Economist

Posted on December 6, 2016 by Mozambique Resources Post

Saudi Arabia has accepted Iran’s terms for a deal. Now Russia has to keep its pledge to cut too.

Global Oil & Gas: BP Ceo Sees Oil Prices At $55-$70 For Rest Of The Decade

Posted on October 12, 2016 by Mozambique Resources Post

BP Chief Executive Robert Dudley said on Tuesday he expects global oil prices to stabilize at around $55-$70 per barrel for the rest of the decade. Dudley was speaking at the World Energy Congress in Istanbul.(Source: Reuters; reporting by Ron Bousso; Writing by Nick Tattersall)

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