Tag: oil price

• Thursday, October 14th 2021 - 14:58 UTC

  Putin anticipates the price of crude could reach US$ 100 a barrel

  

  The price of crude could rise to US$ 100 per barrel in coming weeks, anticipated Russian president Vladimir Putin during the Energy Week conference held in Moscow.

• Sunday, October 10th 2021 - 19:41 UTC

  US will not release strategic reserve and Brent oil climbs to US$ 83 the barrel

  

  By Julianne Geiger for Oilprice.com - The Unite States Department of Energy is walking back previous comments that it was considering a release of the Strategic Petroleum Reserve and a ban on crude oil exports, Bloomberg’s Javier Blas reported on Twitter.

• Monday, November 9th 2020 - 09:21 UTC

  Petrobras expects increased production from the pre-salt offshore basin

  

  By Tsvetana Paraskova for Oilprice.com – Because of the increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazil’s state oil firm said when it reported its production figures for Q3.

• Tuesday, August 11th 2020 - 09:00 UTC

  UK's oil industry close to collapse, says Premier Oil director; North Sea not profitable below US$ 60 a barrel

  

  The UK's oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money.

• Monday, May 25th 2020 - 07:52 UTC

  Pierre Andurand, French 'wonder boy' who predicted the sub zero oil market collapse

  

  French oil trader Pierre Andurand was catapulted into the spotlight this year after correctly betting that the deadly novel coronavirus would spark a sub-zero oil market collapse. Andurand, the 43-year-old founder of London-based Andurand Capital who runs two multi-million-dollar funds, bet in February that the deadly COVID-19 outbreak could represent a rare “black swan” event that would send prices into reverse.

• Wednesday, May 20th 2020 - 21:54 UTC

  Argentina establishes a minimum oil price of US$ 45/barrel for domestic sales

  

  Oil companies in Argentina are obligated to maintain production, payrolls, and investment and cannot repatriate profits under a decree that establishes above-market prices for domestic crude. The decree published on Tuesday sets a minimum price of US$ 45/bl for domestic sales of light sweet Medanito crude.

• Wednesday, April 22nd 2020 - 08:56 UTC

  Trump orders a plan to aid US struggling oil companies with massive supply glut

  

  President Donald Trump on Tuesday ordered his administration to come up with a plan to aid US oil companies struggling with a massive supply glut and record low crude prices. “We will never let the great U.S. Oil & Gas Industry down,” Trump tweeted.

• Tuesday, April 21st 2020 - 10:16 UTC

  US oil price on Monday turned negative for the first time in history

  

  The price of US oil has turned negative for the first time in history. That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May.

• Tuesday, March 31st 2020 - 09:07 UTC

  Saudi Arabia wants to be Oil King again and lets prices collapse

  

  Saudi Arabia said on Monday it will raise its oil exports to a record 10.6 million barrels per day starting from May despite a global supply glut, escalating a price war with Russia. Oil prices are languishing at 17-year lows as the coronavirus pandemic threatens a painful global recession that could further sap demand.

• Thursday, March 19th 2020 - 08:21 UTC

  Oil prices collapse below US$ 30 a barrel and could drop to US$ 20, Goldman Sachs estimates

  

  U.S. oil prices reached their lowest point since 2003 on Wednesday as the coronavirus has reduced demand in countries around the world. The prices fell for a third session, with U.S. crude Clc1 reaching US$ 25.06 per barrel, the lowest prices since late April 2003. As of 11:35 GMT, U.S. crude Clc1 hit US$1.51 cents or 5.6 percent at US$ 25.44 per barrel.