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OPEC+ meeting highlights Saudi's leadership
- Group, except for Russia and Kazakhstan, will continue production cuts for April
Oil up as OPEC agrees roll over of output cuts in April
- Rising value of dollar also exerts downward pressure on oil prices which are indexed to US dollar
OPEC+ meets to discuss production quota after March
- Group is currently imposing 8.05 million bpd output cuts, including 1 million bpd of additional cuts from Saudi Arabia
Oil up as OPEC+ expected to keep output cuts unchanged
- Prices soar despite highest-ever increase in US crude oil inventories since 1982
US oil inventories mark largest weekly rise since 1982
- Commercial crude oil stocks rise by massive 21.6 million barrels, smashing market expectation of 1.9 million-barrel draw
Oil prices up with more optimistic demand outlook
- Price rise comes despite build of 7.4 million barrels in US crude inventory relative to forecast of 1.9 million-barrel fall
Oil slips ahead of OPEC+ meeting on Thursday
-Concerns over OPEC+ output increases and uncertainty over oil demand recovery still weigh on oil prices
Oil prices up with US relief bill, 3rd vaccine approval
- Geopolitical risks continue weighing on oil prices after Saudi-Yemen tension and US attack on Iranian positions in Syria
US oil rig count rises by 4 for week ending Feb. 26
- This marks drop of 369 in number of US oil rigs compared to one year ago
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Efficiency rules to curb marine bunker oil demand by '30
- Use of marine LNG is expected to grow steadily by 2030, new Wood Mackenzie report says
26.02.2021
Oil
Turkey's energy import bill down 35.8% in January 2021
- Last month, overall energy imports fall due to rise in country's domestic and renewable energy production
Oil prices fall as dollar appreciates
- Recent high oil prices encourage greater production to exert downward price pressure
Turkey's oil imports down 22.3% in December 2020
- Output of oil refinery products decreases by 0.7% to 2.83 million tonnes in December 2020
US crude oil inventories rise for week ending Feb. 19
- Commercial crude oil stocks increase by 1.3 million barrels, against market expectation of 5.3 million-barrel draw
Oil prices up over Fed’s lower interest rates
- Price rises come despite 1.3 million-barrel build in US crude inventories
Oil down as Texas refineries curb demand, US stocks rise
- US crude oil inventories are forecast to rise by over 1.03 million barrels, API figures show
Oil prices up over slow output return in Texas
- Hopes for yet-to-be-approved US stimulus package also boosts oil prices
Oil up as market stabilizes with end to US cold snap
- Hopes over higher US stimulus deal also support oil prices
US oil rig count falls by one for week ending Feb. 19
- This marks drop of 374 in number of US oil rigs compared to one year ago
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Oil prices down over lack of demand in Texas refineries
- Drop in US crude inventories last week limits further declines, signaling demand uptick in world's largest oil consumer
US crude oil inventories fall for week ending Feb. 12
- Commercial crude oil stocks decrease by 7.3 million barrels, higher than market expectation of 2.2 million-barrel draw
Oil prices extend gains over Texas supply cuts
- US crude oil inventories are forecast to fall by 5.8 million barrels, API figures show, easing weak demand fears
US: Gas demand rises sharply amid freezing weather
- 4.5M power outages in Texas alone, 20% of US refinery capacity shut down in Gulf Coast
US: Bitter cold weather triggers energy squeeze
- Almost 154M – half of US population – under some type of weather alert, more than 5M without electricity
Oil prices up as cold front in Texas halts production
- Rising tensions in Middle East and hopes for wider access to COVID-19 vaccine also support higher oil prices
Equinor warns strike may hit Norway's oil, gas fields
- Mediation failure on wage talks may result in shut down of offshore production until future notice
Oil prices hit 13-month high with demand optimism
- Rising tensions between Saudi Arabia and Yemen along with positive developments on US relief pack also boost oil prices
US oil rig count rises by 7 for week ending Feb. 12
- This marks drop of 370 in number of US oil rigs compared to one year ago