NEW YORK (Reuters) – Oil prices rose more than 2% on Thursday to the highest in nearly two months following a Reuters report that OPEC and its allies are likely to extend output cuts until mid-2020 and fresh signs that China had invited U.S. trade negotiators for a new round of talks. To support oil …
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WASHINGTON – The U.S. Energy Information Administration revises the U.S. crude oil production forecast it publishes in each Short-Term Energy Outlook based mainly on two factors: updates to EIA’s published historical data and EIA’s crude oil price forecast. In the November 2019 STEO, EIA increased its forecast of U.S. crude oil production in 2019 by …
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The US oil and gas rig count continued its downward slide this week, according to Baker Hughes, as the rig count piles on a string of losses with a drop of 11 rigs for the week. For oil rigs specifically, this week marks eleven decreases out of the last thirteen weeks, falling 96 rigs in …
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The Dow Jones Industrial Average dropped 200 points on Wednesday after media reports said that there is a chance the United States and China will not reach the “phase-one” of their trade deal until the end of the year. Earlier in the day, President Donald Trump stated that it will be up to him to …
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Vagit Alekperov, the chief executive of the second-biggest Russian oil producer, Lukoil, expects OPEC and its Russia-led non-OPEC partners to decide next March whether to roll over the production cuts through the rest of 2020. “It is going to be decided in March,” Alekperov told reporters on Wednesday, as carried by Reuters, referring to the …
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WASHINGTON (Reuters) – A U.S. diplomat who is a pivotal witness in the impeachment inquiry into President Donald Trump said on Wednesday he worked with his personal attorney Rudy Giuliani on Ukraine issues on “the president’s orders,” confirming Trump’s active participation in a controversy that threatens his presidency. Gordon Sondland, the U.S. ambassador to the …
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Moscow — Russian President Vladimir Putin said Wednesday his country will continue to work with OPEC on stabilizing oil markets despite “minor disagreements.” The current OPEC+ output cut agreement is in place until the end of March 2020. Participants will meet to discuss the market situation in early December, with prices continuing to hover around …
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U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 450.4 million barrels, U.S. crude oil inventories are about 3% above the five year average for this time of year. U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the …
Continue reading “EIA Weekly Petroleum Data for the week ending November 15, 2019”
WASHINGTON — As Lt. Col. Alexander S. Vindman sat in a stately chamber testifying on Tuesday, the White House posted on its official Twitter account a message denouncing his judgment. His fellow witness, Jennifer Williams , had barely left the room when the White House issued a statement challenging her credibility. Trump has publicly disparaged …
Leader of the Labour Party Jeremy Corbyn said on Tuesday he will carry out the result of a second referendum on Brexit. He further explained that his party’s priority is to get Brexit sorted. “We will negotiate incredible leave options in 3 months and in the next 6 months give the choice to British people …
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