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Russia wants to increase crude oil exports

Russia expects to increase its crude oil exports by around 400,000 to 500,000 bpd to more than 5.6 million bpd within five years, Energy Minister Alexander Novak said in an article in the Russian-language journal Energy Policy. Russia will not only maintain its position in global energy markets, but also expect it to increase its crude oil exports by up …

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How much crude oil has the world really consumed?

The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top ten consumers accounting for 60 percent of total consumption. That's almost 100 million barrels a day. At today's average oil price of $ 60 per barrel for Brent crude, it will cost $ 5.8 billion. Everyone. Day. The three largest …

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Surprise Crude Build reverses earlier oil price gains

The American Petroleum Institute (API) has estimated a surprising crude oil inventory of 3.7 million barrels for the week ending August 8, compared to analyst expectations for a draw of 2,761 million barrels. This week's stock is comparable According to API data, the draw last week was 3.4 million barrels. One day later, the EIA disagreed with the API report, …

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The US imposes new sanctions on Chinese companies for the transportation of Iranian crude oil

ORLANDO – The US imposes new sanctions on a Chinese company for the transportation of Iranian crude oil, exacerbating US pressure on the Islamic Republic in weeks of escalating tensions As Beijing and Washington seek ways to resume trade talks and move forward Speaking to Chinese technology companies, notably telecommunications giant Huawei Technologies Co., a spokesman for the Chinese Embassy …

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Crude Oil Prices Fall Due to Global Growth Fears By Reuters

SYDNEY (Reuters) – Crude oil prices fell Friday on concerns over the outlook for global economic growth. US. West Texas Intermediate (WTI) () crude oil futures fell 1.1% to $ 56.71 a barrel, down from 0042 GMT. Brent's (Front-Month) () crude oil futures declined 0.1% to $ 63.23 a barrel, down 0.8% on Thursday. "Worries about weaker demand outweighed supply …

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Small crude oil construction lowers the oil level

The price of crude oil continued to fall today after the Energy Information Administration reported a further increase in inventories to 2.2 million barrels for the week ending June 7. The barrel construction of gasoline supplies also led to lower prices. Last week, gasoline inventories rose by 800,000 barrels, according to the EIA, although the driving season was probably gaining …

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Crude Oil Rise on US Iran Spat, OPEC Production Cutbacks Hiss

CRUDE OIL & GOLD TALKING POINTS: Crude oil prices rise as Trump threatens Iran OPEC slows production cuts Fed chairman Powell could weigh on commodity prices Crude oil prices rose at the beginning of the trading week After US President Trump threatened Iran via Twitter and officials in Tehran had warned that if they wished to do so, that would …

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