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Rising US oil production frustrates OPEC⁺ cuts – Reuters

EnergiesNet — Fri, 02 Feb 2024 08:04:38 +0000

John Kemp, Reuters LONDON EnergiesNet.com 02 02 2024 U.S. oil and gas drilling has slowed in response to the fall in prices over the last 18 months, but that has not yet translated into slower production, keeping prices under pressure. Exploration and production firms have continued to increase output despite drilling fewer wells, by concentrating …

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OPEC daily basket price stood at $91.68 a barrel Thursday, October 26, 2023 – EN

EnergiesNet — Fri, 27 Oct 2023 09:15:36 +0000

EnergiesNet News CARACASEnergiesNet.com 10 27 2023 The price of OPEC basket of thirteen crudes stood at 91.68 a barrel Thursday, compared with $90.83 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi …

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Russia Temporarily Limits Diesel and Gasoline Exports – Bloomberg

EnergiesNet — Fri, 22 Sep 2023 09:19:21 +0000

Bloomberg News MOSCOW EnergiesNet. com 09 22 2023 Russia temporarily banned exports of diesel in a bid to stabilize domestic supplies, driving European prices higher in already tight global fuel markets. So far this year, Russia was the world’s single biggest seaborne exporter of diesel-type fuel, narrowly ahead of the US, according to Vortexa data …

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Even in the Age of Tesla, European Gasoline Demand Is Booming – Javier Blas/Bloomberg

EnergiesNet — Fri, 01 Sep 2023 22:44:39 +0000

By Javier Blas Business is brisk at one of London’s top electric-vehicle charging hubs, owned by BP Plc, in the western suburb of Hammersmith. Spend time here watching how Tesla Inc.’s and competitors’ EVs come and go and you might leave convinced that gasoline’s days are numbered in Europe.Turn to the right, however, and that impression would vanish like disappearing ink: A conventional fuel station is …

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Petrobras Cuts Dividends After Political Outcry And Lower Prices – Bloomberg

EnergiesNet — Fri, 04 Aug 2023 10:08:27 +0000

Mariana Durao, Bloomberg News RIO EnergiesNet.com 08 04 2023 Petroleo Brasileiro SA slashed politically contentious dividends after profits declined and the Brazilian oil major set a more conservative policy for shareholder payouts. The Rio de Janeiro-based producer’s board approved dividends of 15 billion reais ($3 billion), according to a filing on Thursday. It is down …

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Strategist: The U.S. will soon be in a recession, based on commodity price declines – MarketWatch

EnergiesNet — Mon, 03 Jul 2023 12:34:08 +0000

Myra P. Saefong, MarketWatch SAN FRANCISCO Energiesnet.com 06 30 2023 Prices for most commodities have moved lower year to date, with coal, natural gas and nickel among the big decliners, suggesting inflation has reached its peak and recession may not be too far behind. “The general decline in commodities from the March 2022 peak suggests …

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Oil’s Troubled Waters – John Authers/Bloomberg

EnergiesNet — Sun, 30 Apr 2023 20:07:21 +0000

By John Authers Troubled Waters on Oil It was the commodity largely blamed for the great spike in global inflation. Spurred by war in Ukraine, oil prices jumped above $100 per barrel to levels last seen in 2014. Since then, it has stabilized as inflation slowly trickled lower — and not even the current incarnation of the …

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Here’s what is really behind OPEC+ oil-production cuts, say energy analysts – MarketWatch

EnergiesNet — Thu, 06 Apr 2023 09:46:20 +0000

Isabel Wang, MarketWatch NEW YORK EnergiesNet.com 04 05 2023 An unexpected production cut announced on Sunday by OPEC+ oil producers complicates strained relations between the U.S. and Saudi Arabia, with investors seeing signs of geopolitical posturing in the decision. However, some market analysts contend the cuts were less about sending a message to Washington and …

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Sanctions on Russian Diesel Sales Show Early Signs of Working – Bloomberg

EnergiesNet — Wed, 22 Feb 2023 22:32:52 +0000

Jack Wittels, Bloomberg News LONDON EnergiesNet.com 02 22 2023 With international sanctions on Russia’s diesel shipments now in place for more than two weeks, the early signs are that they are having at least some of the desired effect. The Group of Seven and the European Union’s latest measures were essentially designed to do two things: …

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CPI shows U.S. inflation still sticky and slowing grudgingly in January – MarketWatch

EnergiesNet — Wed, 15 Feb 2023 08:48:22 +0000

U.S. consumer price index slows slightly to 6.4% annual rate Jeffry Bartash, MarketWatch WASHINGTON EnergiesNet.com 02 14 2023 The numbers: The cost of living rose 0.5% in January — the biggest increase in three months — in a possible sign that U.S. inflation might not slow as quickly as hoped. Higher housing costs and gasoline …

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Oil prices extend slide Thursday to finish at their lowest in more than 3 weeks – MarketWatch

EnergiesNet — Fri, 03 Feb 2023 10:22:35 +0000

Myra P. Saefong and William Watts, MarketWatch SAN FRANCISCO/NEW YORKEnergiesNet.com 02 03 2023 Oil futures declined on Thursday to mark their lowest finish in more than three weeks, with global benchmark Brent prices down a fifth straight session. Prices for Brent, as well as U.S. benchmark West Texas Intermediate crude, fell more than 3% Wednesday, …

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