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Oil up over 3% amid tight supply, large US stockpile draw in w/e Sept. 24
- However China's first public sale of state reserves on Friday limits price gains
Oil up over ongoing tight US supply, China's crude sales from reserves
- China's first sale from its strategic reserves totals 4.43 million barrels
Oil up over more-than-expected fall in US crude supplies
- US commercial crude oil inventories drop by 3.5 million barrels, while expectation was 2.4 million-barrel draw
Oil up over estimated fall in US crude stocks, tight supply
- American Petroleum Institute forecasts larger-than expected drop of 6.11 million barrels in US stockpiles
Oil up on ongoing US supply disruptions ahead of stockpile projection data
- Shell reports significant structural damage in its offshore facilities at hurricane-hit Gulf of Mexico
Oil down on back of rising dollar and increase in US rigs
- Oil & gas production in US Gulf of Mexico, which has not normalized after Hurricane Ida, is limiting further price declines
US oil rig count up by 10 for week ending Sept. 17
- Number of US oil rigs rise by 232 compared to one year ago
US petroleum exports exceed imports in 1H21: Energy Information Admin.
-Country became net exporter in first half of 2020, supplying 432,000 barrels per day more of crude oil and petroleum products
Oil up over 2% amid US supply disruption in week ending Sept. 17
- Positive demand projections for next year, more-than-expected drop in US stockpiles also supported price gains
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Oil down as strong dollar offsets US supply disruptions
- Soaring natural gas prices are also limiting downward trend in crude
Libya resumes oil exports at Sidra, Ras Lanuf ports
- Sit-in by protesters demanding jobs kept ports suspended for days
US crude oil inventories down 1.5% for week ending Sept. 10
- Commercial crude oil stocks decrease by 6.4 million barrels, lower than market expectation of 3.9 million-barrel draw
Oil up as US fuel stocks drop over expectations
- However markets are projected to balance as OPEC+ producers are set to rise output by 400,000 barrels per day in October
Oil up over estimated US stockpile drop, positive demand projections
- However gains are limited as China prepares for its first sale of oil from its strategic reserves on Sept. 24
Int. Energy Agency revises up oil demand expectation for next year
- Agency projects oil demand will continue growing until end-year and reach 99.4 million barrels per day in 2022
Oil up as tropical storm Nicholas raises fears of US supply disruptions
- Upgraded to hurricane on Monday, tropical storm Nicholas is causing evacuations on offshore US Gulf of Mexico oil platforms
Pandemic led to bankruptcies in energy sector: Fitch
- Weak oil, gas demand during early pandemic caused low prices, leading to spike bankruptcy filings, agency says
OPEC keeps 2021 global oil demand forecast unchanged, revises up for 2022
- Crude output rises mainly in Iraq, Saudi Arabia, but decreases in Nigeria, says OPEC
Oil up as supply disruptions continue in US Gulf of Mexico
- Investors to focus on OPEC and EIA oil market reports to be released later this week
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US oil rig count up by 7 for week ending Sept. 10
- Number of US oil rigs rise by 221 compared to one year ago
Oil up by 2% amid mixed demand messages in week ending Sept. 10
- Raising supply fears, China on Thursday announced its decision to release crude oil reserves to market via public auction
Oil up as US fuel stocks drop over expectations
- US gasoline inventories fall by 7.2 million barrels, signaling improving demand and more mobility
US crude oil inventories down 0.4% for week ending Sept. 3
- Commercial crude oil stocks decrease by 1.4 million barrels, lower than market expectation of 3.9 million-barrel draw
Majority of fossil fuels need to stay in ground to limit global warming
- Global oil and gas production needs to decline by 3% annually until 2050 for reaching target to limit global warming
US energy agency revises down oil price forecast for 2021
- International benchmark Brent crude now estimated to average $68.61 per barrel in 2021 from previous forecast of $68.71
Oil up over estimated rise in US fuel stocks, ongoing supply halts in US
- Almost 76.9% of oil and 77.2% of natural gas output in Gulf of Mexico is still shut in after Hurricane hit area last week
Over $1T at risk unless oil, gas firms align business to 1.5°C Paris target
- Companies need to plan for major cuts in production by 2030s, a new Carbon Tracker report reveals
Oil up as halts in production in US hurricane-hit areas continue
- 79.3% of oil production and 77.9% of natural gas production in Gulf of Mexico have been shut in, says US BSEE