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Tuesday, October 22, 2019

Tag: output

Saudi Arabia to restore oil output fully by end of September

Saudi Arabia’s energy minister says the kingdom would achieve 11 million bpd capacity by end of September and 12 million bpd by end of November.

Saudis race to restore oil output after Aramco attacks

Aramco is working to compensate clients for some of the shortfall from its reserves.

Opec and the Fed are in the same uncertain boat

At the current juncture, this means deciding whether to continue restraints on output set at the start of 2017 – their current deal to cap supply ends in three months.

Oil edges above US$67 as Opec-led supply cuts support

Rising oil output in the United States has helped to offset the Opec-led curbs.

Oil set for weekly gain as Opec+ meets to extend production...

Crude has rallied almost 30% this year as Opec+ capped their output to bring the market back to balance.

Exxon aims for US$15-a-barrel costs in giant Permian operation

The shale revolution has made the Permian into the world’s largest shale field, with production topping 4 million barrels a day.

Oil pierces 4-month high as US stockpile draw eases glut fears

US crude stockpiles declined 3.86 million barrels last week, defying a prediction for an increase in a Bloomberg survey of analysts.

Opec output slides again amid planned cuts and US sanctions

Saudi Arabia, Kuwait and the United Arab Emirates delivered all of the supply curbs they pledged to prevent a global glut.

Oil edges up to US$65 as Opec seen rebuffing Trump pressure

US sanctions against Opec members Iran and Venezuela have also contributed to the gains.

Shell eyes limit to how clean oil output can be in...

Europe’s biggest oil company says it plans to reduce its net carbon footprint by half by 2050.

Brent oil briefly hits US$65 as production cuts fuel 2019 high

Brent is near a three-month high and set for a more than 1% gain on the week.

Oil up nearly 2% on Saudi and Opec cuts

Brent crude futures were up US$1.17 or 1.9% at US$62.68 a barrel by 1135 GMT.

Opec oil output drops on Saudi cut, outages and sanctions

Opec is almost three quarters of the way in delivering supply cuts that started on Jan 1 in an effort to avert a glut.

Oil extends gain after rising most in a week on Venezuela...

Investors are waiting to see how Venezuela responds to the latest American sanctions.

Oil falls as US adds new rigs, China weakness rattles market

US energy companies last week increased the number of rigs looking for new oil for the first time since late December.

Russia starts gradual oil output cuts as Opec+ deal kicks in

Preliminary data show the nation’s output has already fallen by more than 30,000 barrels a day relative to October levels.

Plunging coffee bean prices could drive grower cutbacks in 2019

The annual average price paid to farmers in Brazil is the lowest in four years in local currency terms.

US oil edges up after tumbling to lowest since June 2017...

US political turmoil triggered by the partial shutdown of the federal government is also adding to market concerns.

Singapore Nov factory output rises 7.6%, beats forecast

Economists predicted a 4.1% expansion, faster than the revised 5.5% growth in Oct.

UAE: Oil producers to have extra meeting if output cuts “not...

The United Arab Emirates energy minister says extending the output agreement signed in early December will not be a problem and producers will do as the market demands.

Oil prices rise on Asian stock rally, Opec-led cuts

The higher prices came amid an increase in Asian share markets on Wednesday.

Oil tumbles 5% after Opec hints at smaller output cut

Led by Saudi Arabia, Opec's crude oil production has risen by 4.1% since mid-2018, to 33.31 million bpd.

Trump asks Opec not to cut production

If oil producers close the taps, they risk choking off the global economy, which needs affordable oil to keep running.

Oil prices fall on swelling glut, economic growth concerns

Brent and WTI have averaged US$72.80 and US$66.10 per barrel so far this year.