Russian exports; Gas and Oil production

Russia expects balance in Oil market; in case production cut prolongs   Alexander Novak said Global Oil markets will come to a balance soon. If the production cuts extend till the early 2018; or late 2017. Entering the winter of 2018, a supply-demand will find its equilibrium. "Judging from the current dynamics in the decline [...]

By | 2017-05-14T11:29:28+00:00 May 14th, 2017|Financial, Governments, International, Oil Market|0 Comments

Oil Production; Summary of Main Oil News this week

Russian energy ministry and output cut talks The main official of Rosneft, Igor Sechin, said on Saturday that the Russian energy ministry had his backup in discussions over oil production cuts. "The most important thing is to have a mechanism to defend our interests.'' In previous months, Sechin has expressed some suspicions about the ability [...]

By | 2017-05-14T06:54:44+00:00 May 14th, 2017|Financial, Governments, International, Oil Market|0 Comments

Nigeria: Exxon Mobil Oil workers started a strike, dissatisfied by work conditions

Summary of Today's Important Economic News:   Retail sales set to recover in second quarter Fed will keep eye on inflation data Global stock mixed ahead of key U.S. data Oil in track for weekly gains of 3% S. - China trade relations 'hitting a new high' Gold prices move higher amid U.S. political turmoil [...]

By | 2017-05-12T17:47:50+00:00 May 12th, 2017|Financial, Governments, International, Oil Market|0 Comments

LME: Friday base metal prices

Today's trade was broadly higher for all the base metal prices. The prices saw a little, but positive movement. Yesterday, prices were following a certain rally during the day, but they dipped just before the close. Copper is currently trading at $5,560 per tonne. It hit highs of over $5,600 per tonne yesterday afternoon, but fell [...]

By | 2017-05-12T13:41:58+00:00 May 12th, 2017|Financial, International|0 Comments

Friday, May 12th on SHFE

Amid onsets of profit-taking, and a generally bearish sentiment towards demand for the red metal, copper prices on SHFE felt back during Today's morning trade. Some traders say: “Market players took profits after Thursday’s rally, and there is no further stimulus supporting the red metal.” “The retreat of the whole base metals complex was mainly due [...]

By | 2017-05-12T07:03:07+00:00 May 12th, 2017|Financial, International|0 Comments

Debts slowing down Rosneft acquisition of Essar Oil; Project worth $12.9 billion

Real tensions Rosneft  is currently combating to induce its huge acquisition worth $12.9 billion. Story is about India's Essar Oil Ltd, the very important purchase for Rosneft company. The ''combat'' is happening because some of the Essar's financiers did not yet endorse the deal. Firstly, the main creditors and financial institutions, along with some state-run [...]

By | 2017-05-11T17:56:58+00:00 May 11th, 2017|Financial, Governments, International, Oil Market|0 Comments

Wintershall question retains Libyan oil output, as it tops 800,000 bpd

Oil production in Libya   For the very first time since 2014, Oil production in Libya came to 800,000 bpd. Which makes it the highest level in 3 years. The info is from National Oil Corporation report which came out on Wednesday. The hack question of Wintershall, the German Oil film was stating that Libyan [...]

By | 2017-05-11T11:26:21+00:00 May 11th, 2017|Financial, Governments, International|0 Comments

SHFE on May 11th; Copper up due to supply concerns; Better market movement

Shanghai Futures Exchange continued with positive pushes, and copper price went up despite the short pull down at opening time. Possible supply  restriction gives backup to prices. Also the news about China's central bank. They will insert some amounts of capital into the open market. These news also renewed confidence and removed fear of the [...]

By | 2017-05-11T06:46:21+00:00 May 11th, 2017|Financial, Governments, International|0 Comments

U.S. Oil Imports Decline; Crude Inventories tumble;

Crude Reserves   Observing the U.S. crude reserves, they had the biggest one-week fall down since December. It happened last week as imports fell down roughly. Furthermore, inventories of refined products also declined. Helping aliment of oil prices that were down by worries about oversupply. Crude inventories USOILC=ECI fell 5.2 million barrels in the week [...]

By | 2017-05-10T17:58:09+00:00 May 10th, 2017|Financial, Governments, International, Oil Market|0 Comments

Main Economic Events & LME Today

Wednesday, May the 10th deserves to be nominated for one of the most tense days regarding this week. So much going on in financial markets, being pulled and inspired by main political events which are causing a little earthquakes all along the global scene. Will euro come to its 6-month highs lifted by Mario Draghi, [...]

By | 2017-05-10T11:26:34+00:00 May 10th, 2017|Financial, Governments, International|3 Comments