Author Topic: Spot Brent Oil Price  (Read 147377 times)

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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
« Reply #3765 on: May 19, 2017, 04:56:27 AM »



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Re: Spot Brent Oil Price
« Reply #3766 on: May 19, 2017, 09:34:36 AM »



Crude Oil
Oil prices climb on hopes output cuts will be extended
Reuters
/
Reuters

May 19, 2017 08:25 am MYT

-A+A
TOKYO (May 19): Oil futures rose in early trading on Friday on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of gains.

Brent crude was up 12 cents at $52.63 at 0006 GMT, after settling up half a percent on Thursday. The contract is on track for a 3.5-percent climb this week, a second week of gains.

U.S. crude oil was up 14 cents at $49.49 a barrel, after finishing the previous session at $49.35 a barrel, the highest close since April 26. The contract is heading for a weekly increase of 3.4 percent.

Oil prices have been trapped in a tight range in recent weeks as rising U.S. production has erased the effects of output cuts by the Organization of Petroleum Exporting Countries (OPEC) and other countries, including Russia.

But market watchers are growing more confident that OPEC, Russia and other big producers will extend cuts of almost 1.8 million barrels per day (bpd) until the end of March 2018. U.S. producers are not party to any agreements capping production.

On May 25, leaders from OPEC and other producing countries will meet in Vienna to decide on output policy.

Rosneft, the largest oil producer in Russia will meet agreements with the grouping on oil output reductions, the company's chief executive told reporters in Berlin on Thursday. - Reuters

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Re: Spot Brent Oil Price
« Reply #3767 on: May 19, 2017, 11:16:03 AM »



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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
« Reply #3769 on: May 19, 2017, 03:26:10 PM »


Friday, 19 May 2017 | MYT 2:52 PM
US oil output back near records, challenging Opec
image: http://www.thestar.com.my/~/media/online/2015/08/18/01/54/crudeoil18aug15.ashx/?w=620&h=413&crop=1&hash=C9FF667DBC229F692689AC84C4176A5F2B6AC1E8

 
New York: American oil production is approaching record levels again, led by shale projects, potentially foiling efforts by Opec to support prices.

Oil prices were boosted this week after Saudi Arabia and Russia signalled they intend to extend an agreement to limit output. That raised expectations the Organisation of the Petroleum Exporting Countries will sign off on prolonging the existing production agreement at its May 25 meeting.

Petroleum exporters’ efforts to push prices higher have helped American producers as well, especially shale producers who can react quickly to market developments. Oil prices currently trade between US$45 and US$55 a barrel, up from US$26 a barrel in February 2016.

American shale has been particularly responsive to the higher price range because it is less capital intensive than other ventures.

”With respect to shale oil, the investment decisions and cycles are shorter because it only takes a month to drill and bring a well online,” said Ben Shattuck of Wood Mackenzie. ”As prices either move up or down, the industry can be pretty nimble in terms of responding to that.”

US production has risen 850,000 barrels per day (bpd) from its 2016 lows to 9.3 million bpd now, not far from the all-time record set in 2015.

US producers have streamlined spending and been more selective in the wells they drill.

The cost to drill for shale has fallen by more than one-third in the last two years, analysts said. New wells have an average break-even price between US$43 and US$45 a barrel in the current market, said Reed Olmstead of IHS Markit.

”We are only drilling the best locations but also we are drilling bigger wells,” Olmstead said in an interview. Operators are “really pushing the limits of what they can get the rocks to produce.”

New techniques to boost the flow of oil means a well in a region like the Permian Basin in Texas and New Mexico “has roughly twice the productivity as the same well in late 2014,” he said.

Martijn Rats of Morgan Stanley said the US rig count has doubled in a year, making it the “strongest recovery in the last 30 years.”

Analysts estimate that every dollar that oil prices rise between US$45 and US$55 a barrel results in an additional 1.2 billion barrels that become economic to produce.

But too much shale output will threaten to drive down oil prices back down again, and at a certain point more drilling means higher production costs as more operators hire rigs.

Art Abramov, vice-president of analysis at Rystad Energy, reported “steep cost escalation” in several key segments, including pressure pumping and purchase of tubular goods. - AFP
TAGS / KEYWORDS:
Oil & Gas

Read more at http://www.thestar.com.my/business/business-news/2017/05/19/us-oil-output-back-near-records/#498Jzf8FHHw3eZ8L.99

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Re: Spot Brent Oil Price
« Reply #3770 on: May 19, 2017, 03:27:10 PM »



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Re: Spot Brent Oil Price
« Reply #3771 on: May 19, 2017, 05:57:04 PM »


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Re: Spot Brent Oil Price
« Reply #3772 on: May 19, 2017, 08:30:48 PM »



OPEC支持延长减产
油价升至三周高点
105点看 2017年5月19日
(纽约19日综合电)石油输出国组织(OPEC)延长减产协议的建议料将获得多数国家支持,油价升至三周高点;美国制造业指数升高带来一些成长希望,美元走高,使黄金价格回落。

阿尔及利亚能源部长包特法表示,大多数OPEC成员国支持沙地阿拉伯和俄罗斯关于将减产延长至明年3月的建议,而且会进一步落实减产协议内容。


6月交割的西德州原油期货在纽约商业交易所上涨28美分,至每桶49.35美元,写下自4月26日以来最高收盘价;7月交割的布兰特原油期货上涨30美分,报每桶52.51美元,是自4月20日以来的最高收盘价。

美国5月份费城联邦准备银行制造业指数升至38.8,优于市场预期的18.5;美元指数连跌六天后回升,美国股市走高,使金价回落,纽约商品交易所6月交割黄金期货跌0.5%,结算价每英两1252.80美元。

新闻来源:经济日报


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Re: Spot Brent Oil Price
« Reply #3773 on: May 19, 2017, 10:00:17 PM »



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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
« Reply #3777 on: May 20, 2017, 06:51:08 AM »



Business NewsHome > Business > Business News
Friday, 19 May 2017 | MYT 11:53 PM
Opec panel looking at deepening, extending oil cuts - sources
image: http://www.thestar.com.my/~/media/online/2017/05/19/16/00/dcx_doc6ld2o8cdgrnphg8xwy.ashx/?w=620&h=413&crop=1&hash=61263ACA1783CE4B69A3E6E223A38E6C5AD2E623
Oil prices are heading on Friday for a second week of gains, trading above US$53 a barrel.
Oil prices are heading on Friday for a second week of gains, trading above US$53 a barrel.
 
VIENNA: An Opec panel reviewing scenarios for the oil producer group’s meeting next week is looking at the option of deepening and extending a deal to reduce crude output, Opec sources said on Friday, in an attempt to drain inventories and support prices.

Saudi Arabia and non-Opec Russia, the world’s top two oil producers, have agreed on the need to prolong the current cuts until March 2018, although Saudi Energy Minister Khalid al-Falih said extended curbs would be on the same terms.

Opec’s national representatives plus officials from its Vienna secretariat met on Wednesday and Thursday. Their panel, the Economic Commission Board (ECB), was due to finish talks on Thursday but they will now end on Friday, Opec sources said.

Among the scenarios being considered by the Opec panel were a six- or nine-month extension with a possible deeper cut, sources said.

“All options are open,” one source said.

That source said a deeper cut in output was an option depending on estimated growth in supply from non-Opec producers, mainly US shale oil firms, among other scenarios.

The Opec ECB does not set policy. Its meeting precedes the gathering of Opec and non-Opec oil ministers on May 25 to decide whether to extend beyond June 30 their deal to reduce output.

Oil prices were heading on Friday for a second week of gains, trading above US$53 a barrel, on growing expectations that producers will agree further steps to support the market when they meet next week.

The Organisation of the Petroleum Exporting Countries, Russia and other producers originally agreed to cut production by 1.8 million barrels per day for six months from Jan 1.

Oil prices have gained support from reduced output but high inventories and rising supply from producers not participating in the accord have limited the rally, pressing the case for extending the curbs.

Further details, such as the size of the extra supply cut being mulled by the ECB, were not immediately available.

In addition to the final part of the ECB meeting, there is also a technical discussion on Friday among Opec and non-Opec countries participating in the supply cut. This is not expected to result in any decision.

“Today’s meeting is just informative,” an Opec source said.

Russia and three or four non-Opec countries were attending Friday’s technical meeting, a different source said. Eleven non-Opec countries are participating in the supply cut. - Reuters
 
TAGS / KEYWORDS:
Oil & Gas , Opec

Read more at http://www.thestar.com.my/business/business-news/2017/05/19/opec-panel-looking-at-deepening-and-extending-oil-cuts/#rVDAXl5uik7mJRHW.99

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Re: Spot Brent Oil Price
« Reply #3778 on: May 21, 2017, 06:33:11 PM »



“温和派”鲁哈尼连任
原油市场一大隐患消失
185点看 2017年5月21日
 
鲁哈尼连任伊朗总统。(网络图)

(德黑兰21日讯)伊朗总统鲁哈尼周六赢得大选成功连任。“温和派”鲁哈尼压倒性优势战胜“保守派”候选人,能源市场因此消除了一个巨大的潜在隐患。


据新华网报道,鲁哈尼2013年接替前总统内贾德上任后,不仅实现了与奥巴马总统的会面,还成功地在2015年7月与国际社会达成伊朗核问题全面协议,解除了大部分此前所受的制裁。去年伊朗议会选举以改革派和温和保守派联盟获胜告终,这在一定程度上表明了伊朗民众渴望政治稳定的心声。

新华网援引中国社会科学院西亚非洲研究所研究员殷罡指出,伊朗目前的任务应该是守住以往取得的胜利成果。

“过去4年,尽管油价下跌,但伊朗国内通货膨胀的速度开始减缓,油品和食品供应都比以前好得多。伊朗在地区事务中逐渐把握主动权,不仅与俄罗斯交好,其所支持的阿萨德政权也取得节节胜利。这一切都是鲁哈尼竞选的有利资本。”

黄金头条网此前曾提及,德国商业银行在大选前发布报告称:鲁哈尼连任意味着伊朗与世界主要大国的核武器协议可以得以继续遵守。如果莱希上台,结果就会很不一样。

西方投资促进伊朗原油生产

伊朗会延着其逐步开放的轨迹继续走下去。在接下来的几年,来自西方的投资也会显著促进伊朗原油生产。伊朗的邻居伊拉克,在西方投资下,原油产量在三年内增幅达150万桶/天。

鲁哈尼此次连任,正值油盟5月关键会议召开前夕。此前,沙地和俄罗斯释放信号,已经同意支持将减产协议延长九个月,至2018年3月。

伊朗由于去年刚回归国际市场,并不受此前油盟减产协议约束。此前伊朗国家石油公司曾表示,正全力增产恢复产能,实现在今年年中恢复到470万桶/天的长期平均水平。

新闻来源:华尔街见闻


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Re: Spot Brent Oil Price
« Reply #3779 on: May 22, 2017, 08:36:57 AM »



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Re: Spot Brent Oil Price
« Reply #3780 on: May 22, 2017, 10:06:23 AM »



Select Language​▼
WORLDCORPORATE
Crude Oil
Oil rises on expectation of extended, possibly deepened output cut
Reuters
/
Reuters

May 22, 2017 08:49 am MYT

-A+A
SINGAPORE (May 22): Oil prices rose on Monday, supported by reports that an OPEC-led supply cut would not only be extended into next year but might also be deepened in order to tightening the market and prop up prices.

Brent crude futures were up 25 cents, or 0.5 percent, from their last close at $53.86 per barrel at 0035 GMT.

U.S. West Texas Intermediate (WTI) crude futures were back above $50 per barrel, trading at $50.62, up 29 cents or 0.6 percent.

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Both benchmarks have risen more than 10 percent from their May lows early in the month.

Prices have been lifted by expectations that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to cut supplies by 1.8 million barrels per day (bpd) would be extended to March 2018, instead of covering just the first half of this year to March 2018.

"Crude oil prices continued to trend higher as the market becomes increasingly confident that OPEC members will commit to a rollover in the production cut agreement," ANZ bank said in a note on Monday.

The option of deepening the production cut was also being discussed ahead of a meeting of OPEC and its allies in Vienna on May 25 to decide their output policy, sources said.

Despite this, James Woods, investment analyst at Australia's Rivkin Securities, said "the potential for deepening cuts remains limited... (as) officials are likely to monitor the impact of an extension of the cuts before they resort to such action."

Woods said, however, that a deeper cut may be required to rein in oversupply.

This is because soaring output from the United States has undermined OPEC's efforts to tighten the market.

Goldman Sachs said in a note late on Friday that "the U.S. oil rig count continued its surge (last week)," and that the rig count had added 404 oil rigs since May last year, a rise of 128 percent.

U.S. oil production <C-OUT-T-EIA> has already risen by 10 percent, or almost 900,000 bpd, since mid-2016 to 9.3 million bpd. - Reuters

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Re: Spot Brent Oil Price
« Reply #3781 on: May 22, 2017, 04:52:59 PM »



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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
« Reply #3786 on: May 23, 2017, 05:03:54 AM »



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Re: Spot Brent Oil Price
« Reply #3787 on: May 23, 2017, 11:25:34 AM »



Business NewsHome > Business > Business News
Tuesday, 23 May 2017 | MYT 11:02 AM
Oil prices fall early Tuesday as White House proposes US oil reserve sales
image: http://www.thestar.com.my/~/media/online/2016/05/25/09/50/oil-pump-jacks.ashx/?w=620&h=413&crop=1&hash=2AF2E435DDC5425968AC590507BC95DB12621A97
After rising in Asian morning trading, Brent crude futures reversed their gains and were at $53.66 per barrel at 0232 GMT, down 21 cents, or 0.4 percent, from their last close.  U.S. West Texas Intermediate (WTI) crude futures were at $50.94, down 19 cents, or 0.4 percent.  The White House plan would gradually sell off half of the nation's emergency oil stockpile to raise $16.5 billion from October 2018, documents released by the administration late on Monday showed.
After rising in Asian morning trading, Brent crude futures reversed their gains and were at $53.66 per barrel at 0232 GMT, down 21 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $50.94, down 19 cents, or 0.4 percent. The White House plan would gradually sell off half of the nation's emergency oil stockpile to raise $16.5 billion from October 2018, documents released by the administration late on Monday showed.
 
SINGAPORE: Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country's strategic oil reserves in his budget plan, just as producer club OPEC and its allies are cutting output to tighten the market.

After rising in Asian morning trading, Brent crude futures reversed their gains and were at $53.66 per barrel at 0232 GMT, down 21 cents, or 0.4 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $50.94, down 19 cents, or 0.4 percent.

The White House plan would gradually sell off half of the nation's emergency oil stockpile to raise $16.5 billion from October 2018, documents released by the administration late on Monday showed.

Presidential budgets are often ignored by the U.S. Congress, which controls federal purse strings.

The plan was released just a day after Trump left OPEC's de-facto leader Saudi Arabia for his first overseas state-visit.

Any large release of U.S. strategic reserves would jolt oil markets, where the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, have pledged to cut supplies by 1.8 million barrels per day (bpd) in order to tighten the market and prop up prices.

Traders said that as any sales would only start next year and be gradual, their impact would be bigger on longer-term prices rather than those for immediate delivery.

"That's a surprise. Over a 10 year period though, so slightly less than 3 million barrels per month, it's not huge but it won't help Saudis efforts," said Oystein Berentsen, managing director for oil trading company Strong Petroleum in Singapore.

OPEC, led by Saudi Arabia, and other participating producers will meet on May 25 to discuss extending the period of the cut from covering just the first half of this year to all of 2017 and the first quarter of 2018.

WORLD'S BIGGEST RESERVES

The U.S. strategic petroleum reserves (SPR), the world's biggest, currently stand around 688 million barrels, a week's worth of global oil demand. <SPR-STK-T-EIA>.

Virendra Chauhan, analyst at Energy Aspects, said sour crudes made up 60 percent of U.S. SPRs, while sweet crude grades made up the rest.

U.S. production <C-OUT-T-EIA> is already at 9.3 million bpd, not far off levels of top suppliers Saudi Arabia and Russia.

The moves comes just after Goldman Sachs warned of "risks for a renewed surplus later next year if OPEC and Russia's production rises to their expanding capacity and shale grows at an unbridled rate."

Demand may also slow. "Quarterly growth of real gross domestic product (GDP) in the OECD area decelerated sharply to 0.4 percent in the first quarter of 2017, compared with 0.7 percent in the previous quarter, according to provisional estimates," the Organisation for Economic Co-operation and Development (OECD) said on Tuesday.

"Our macroeconomic view remains ... price-negative, which is likely to affect the medium-term demand for crude oil," said Marex Spectron. - Reuters
TAGS / KEYWORDS:
Oil & Gas , Commodities , Stocks , Markets

Read more at http://www.thestar.com.my/business/business-news/2017/05/23/oil-prices-fall-as-white-house-proposes-us-oil-reserve-sales/#yxEvtZ6AbLvacJGh.99

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Re: Spot Brent Oil Price
« Reply #3788 on: May 23, 2017, 11:30:17 AM »



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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
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Re: Spot Brent Oil Price
« Reply #3794 on: May 24, 2017, 06:49:07 AM »



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主页 > 财经 > 国际 > 高盛:油市明年或再过剩
高盛:油市明年或再过剩
148点看 2017年5月23日
(纽约23日讯)高盛表示,即便石油输出国组织(OPEC)与其他产油国延长减产计划九个月,帮助经济合作暨发展组织(OECD)国家的库存,在2018年初回到正常水平,高盛仍认为,油市面临在明年稍晚再次供应过剩的风险。

高盛在报告中写道:“如果OPEC与俄罗斯的产量上升到赶上扩张中的产能,而且页岩油产量也毫无约束地增加,那么我们认为明年稍晚有再度出现供应过剩情况的风险。”


“在目前情况下,我们认为最大风险是2018年可能出现严重供应过剩,只能以低远期油价来解决这个实实在在的威胁。”

高盛表示,OPEC或可通过油价逆价差实现财政稳定,因为“远期价格偏低可以抑制页岩油业者取得资金,而低成本产油商则以较高的现货价格出售所有产量。”

高盛预期OPEC将在维也纳举行的下次会议上宣布“决定性减产”,因库存恢复正常水平是必要的第一步,手段则是透过延长减产行动至2018年第一季。

该行维持对2017年下半年布兰特原油现货价格在每桶57美元的预估不变,并称“现在预估远期油价需下跌,一年期至两年期美国西德克萨斯中质油(WTI)期货价格跌至每桶45美元左右。”


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Business NewsHome > Business > Business News
Wednesday, 24 May 2017 | MYT 3:13 PM
Oil prices rise as market expects extended production cut
image: http://www.thestar.com.my/~/media/online/2015/09/09/00/12/crudeoil9sept15.ashx/?w=620&h=413&crop=1&hash=5CF0941BDAB76414F0DAD75C0547D758F690D255

 
SINGAPORE: Oil prices rose on Wednesday, supported by confidence that an Opec-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year.

Brent futures rose to US$54.34 per barrel by 0652 GMT, up 19 cents, or 0.35%, from their last close.

US West Texas Intermediate (WTI) futures were at US$51.64 a barrel, up 17 cents, or 0.33%.

Both benchmarks have gained more than 10% from their May lows below US$50 a barrel, rebounding on a consensus that the Organisation of the Petroleum Exporting Countries (Opec) and other producers, including Russia, would extend their pledge to cut supplies by 1.8 million barrels per day (bpd) to March 2018, instead of just covering the first half of 2017.

"Opec is meeting on 25 May with an extension of supply cuts at the top of its agenda. With oil stocks nowhere near Opec's... objective of the recent five-year average level, an extension of cuts seems all but a foregone conclusion," French bank BNP Paribas said.

BMI Research said that the Opec-led cuts would only result in a balanced market this year, and that from 2018 onward markets would return to oversupply, albeit at a lower level than 2013-2016.

"Over a 5+ year horizon, oil price growth is in a structural slowdown, pressured by persistent supply gains," BMI said.

HOW MUCH DOES BACKWARDATION HELP?

A key reason why markets have not tightened more has been US oil production, which has soared by 10% since mid-2016 to 9.3 million bpd. Benefiting from a market known as contango, in which future oil prices are higher than those for immediate delivery, US drillers have sold future production in order to finance expanding output.

To stop this, analysts at Goldman Sachs and elsewhere suggest the price curve should be pushed into backwardation, where future oil prices are below current ones.

While backwardation would reduce inventories, it is less clear whether it can stop rising production.

"When you have backwardation, it tells you to drain your tanks and produce more in order to monetise your production and reserves. As long as you make money from oil production, you'll produce and sell as much oil as you can," said John Driscoll, director of JTD Energy Services.

Past forward curves show that US oil production rose at its fastest pace during times when prices were in backwardation (2011 to 2014).

Though prices were then higher, Driscoll said US producers are now so efficient that they can live with a lower market.

"Break-evens for some of the US producers are estimated at close to US$35-US$40 per barrel," he said.

Instead of selling future production in order to finance prompt output when the oil price curve is in contango, Driscoll said shale drillers can now use backwardation to sell prompt production while buying into the cheaper back-end of the curve as a hedge. - Reuters
TAGS / KEYWORDS:
Oil & Gas

Read more at http://www.thestar.com.my/business/business-news/2017/05/24/oil-prices-rise-as-market-expects-extended-production-cut/#AEEZ0eZxCvpGIoCz.99

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