USA

Nigeria: Imports to USA Fall

Posted on by Mozambique Resources Post
Nigeria: Imports to USA Fall

Imports of Nigerian crude by the United States over 2018 fell by 43%, according to data released by the EIA. The US imported only 64.06 million barrels of crude from the West African country in 2018, compared to 112.92 million barrels in 2017.

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Markets: Trade Tensions Are Keeping A Lid On Oil Prices

Posted on by Mozambique Resources Post
Markets: Trade Tensions Are Keeping A Lid On Oil Prices

Ongoing U.S.-China trade tensions continue to chip away at Chinese economic growth. China’s National Bureau of Statistics (NBS) said on Thursday that the country’s economy slowed in the first two months of the year as the rate of industrial production fell to its lowest in a decade.

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Global Market: America to lead global oil supply growth, no peak demand in sight

Posted on by Mozambique Resources Post
Global Market: America to lead global oil supply growth, no peak demand in sight

The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets according to the International Energy Agency’s annual oil market forecast. By the end of the forecast, oil exports from the United States will overtake Russia and close in on Saudi Arabia, bringing greater diversity of supply.

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Global Markets: Oil prices climb on OPEC cuts, hopes of U.S-China trade deal

Posted on by Mozambique Resources Post
Global Markets: Oil prices climb on OPEC cuts, hopes of U.S-China trade deal

Oil prices rose on Friday, lifted by OPEC’s supply cuts and hopes the United States and China could soon settle their trade disputes. U.S. West Texas Intermediate (WTI) futures were at $54.10 per barrel at 0133 GMT, up 31 cents, or 0.6 percent, from their last settlement. International Brent crude oil futures were at $61.25 per barrel, up 41 cents, or 0.7 percent from their last close. “Prices supported by data showing further falls in…

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