West Texas drillers could weaken any OPEC agreement on extending the cuts

All the Oil producing countries which have a deal with OPEC, along with Russia, can extend their deals. But at the same time this will be a green light for United States oil producers. If the price oscillates following levels between $50 and $60, these are the great news for the U.S. oil drillers. They [...]

By | 2017-05-16T17:28:17+00:00 May 16th, 2017|Financial, 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

Oil prices lower every day; OPEC’s effective and efficient decisions needed

Today, it was a day of 5-month lows in Oil prices. This happened because of bothers on OPEC glut, and whether it would be extended. Nevertheless promises from Saudi Arabia about Russia's preparation to join OPEC's future cuts.   Low Prices of Oil U.S. West Texas Intermediate crude oil futures ¬†were more than 3 percent [...]

By | 2017-05-05T15:53:24+00:00 May 5th, 2017|Financial, Governments, International, Oil Market|0 Comments

Oil immerses, on U.S. stock decline

Oil prices tumbled lower today, May 3. Right after the U.S. government data showed a smaller-than-expected decline in domestic crude inventories. There was also shown a weak demand for gasoline. And it is feeding bothers about a supply glut.   Oil Numbers & Data Benchmark Brent crude LCOc1 was down 8 cents at $50.38 a [...]

By | 2017-05-03T17:25:08+00:00 May 3rd, 2017|Uncategorized|0 Comments

Russia’s Attitude about the (non)extension of OPEC supply Cuts

If OPEC and non-OPEC countries decide not to extend a supply cut deal beyond June the 30th, Russia has an option. It could climb Russian oil output To the highest pace in 30 years. For now, OPEC and non-OPEC countries made a deal Along with Russia. It was to cut 1.8 million bpd in output [...]

By | 2017-04-25T07:04:40+00:00 April 25th, 2017|Financial, Governments, International, Oil Market|0 Comments