Sentences with phrase «crude oil output»

OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel's agreement to cut production, even as the world's total oil supply continued to rise on the back of burgeoning U.S. shale growth.

Iran will officially notify producer group OPEC in December of its plans to raise its crude oil output by 500,000 barrels per day (bpd), the Iranian oil minister said on Saturday.

Iran's current crude oil output level will not be reduced under the extension of the OPEC production cuts, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Thursday.

«Iran will not reduce its output,» he said responding to a question about whether Iran would cut its crude oil output.

American crude oil output has overtaken that of top exporterSaudi Arabia.

In late June, OPEC members decided to increase their crude oil output quotas further from 1 July.

OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel's agreement to cut production, even as the world's total oil supply continued to Continue Reading

In China, domestic crude oil output is dropping while demand is continuously growing, and as such, China is raising its imports.

Despite slumping prices, domestic crude oil output still increased by over 7 %, though that increase is off the pace of previous years.

Libya and its growing crude oil output became a major worry for OPEC in the last few months when attacks on fields and pipelines largely subsided, allowing the country holding Africa's biggest oil reserves to recover its production to over 1 million barrels.

U.S. crude oil output rose above 10 million barrels per day (bpd) late last year for the first time since the 1970s, overtaking top oil exporter Saudi Arabia.

Not exact matches

SINGAPORE, April 23 (Reuters)- Oil prices dipped early on Monday as a rising U.S. rig count pointed to further increases in the country's output, underlining one of only a few factors holding back crude markets in an otherwise bullish environment.

Among commodities, oil prices extended losses after being pressured by the dollar's bounce and rising U.S. crude output.

(In 2011, Cenovus Energy let on that output from two of its in situ oilsands projects could meet the standard, which mandates that crude oil imported to the state have lower wells - to - wheels emissions than the average of all crudes sold in the U.S.) «Yes, I think that's feasible,» says George Hoberg, a political scientist at the University of British Columbia who specializes in environmental conflict.

Strong Chinese factory data and a decline in the country's crude output supported the oil market, but relentless growth in U.S. output weighed on crude futures.

The banks says the long - oversupplied oil market is tightening up more quickly than expected as global economic growth fuels demand and output cuts by OPEC, Russia and several other producers eat into the world's crude stockpiles.

SINGAPORE, April 23 (Reuters)- Oil prices dipped on Monday as a rising U.S. rig count pointed to further increases in the country's output, underlining one of only a few factors holding back crude markets in an otherwise bullish environment.

Oil prices collapsed on Thursday to their lowest since late November as investor worries about the world's stubbornly persistent glut of crude erased most of the gains that followed last year's OPEC's output cut.

Despite the layoffs and poor performance in its first quarter, Suncor, Canada's largest oil sands producer, continues pumping out crude, outputting 602,400 barrels per day during the first quarter — up 10 % from the same period last year.

Surging U.S. oil output won't crowd out Saudi crude because demand remains strong, Aramco CEO Amin Nasser says.

Meanwhile, the August contract for crude plunged $ 4.40 to close at $ 52.53 (U.S.) a barrel Monday on the prospect of increased oil output from Iran and worries over Greece.

I can't emphasize enough how impressive it is that Texas shale oil producers continue to ramp up output even with crude remaining in the $ 50 per barrel range.

Before the recent string of production disruptions, which were caused by militant blockades on pipelines carrying crude from three fields to export terminals, Libya was pumping over 1 million barrels of oil daily, eyeing 1.2 million bpd in output by the end of the year.

China is becoming a key market for global oil exporters as surging output from shale fields from Texas to North Dakota allows the U.S., the biggest crude consumer, to rely less on overseas supplies.

For the longest time, OPEC and Russia have been pulling out all the stops to limit the production of crude oil in the East, while shale producers in the West have only been taking advantage of these efforts to ramp up their own output.

The US oil - rig count plateaued near the highest level in three years and showed signs of declining in late March (to 797), though it still stood 50 rigs above the year - end 2017 total.2 This contributed to expectations for a further increase in American crude production, which has topped 10 mb / d each week since early February, when WTI prices began to recede from their intra-quarterly high of US$ 66.14 a barrel.3 The amount of crude in US storage occasionally exceeded weekly estimates given the higher domestic output and fluctuating net import figures, reigniting fears that US production may thwart OPEC's efforts to clear global oversupply.

Backwardation, contango's opposite, was one of OPEC's key goals with the output cuts — discouraging the storage of crude oil and driving oversupply down.

Oil prices finish higher as IMF move threatens Venezuelan output Traders also weigh jump in U.S. crude supplies, risks to Iran dealAfter trading on a mixed note for much of Wednesday's session, oil prices settled decidedly higher, as the International Monetary Fund's threat to expel Venezuela reignited market concerns over the struggling nation's crude productiOil prices finish higher as IMF move threatens Venezuelan output Traders also weigh jump in U.S. crude supplies, risks to Iran dealAfter trading on a mixed note for much of Wednesday's session, oil prices settled decidedly higher, as the International Monetary Fund's threat to expel Venezuela reignited market concerns over the struggling nation's crude productioil prices settled decidedly higher, as the International Monetary Fund's threat to expel Venezuela reignited market concerns over the struggling nation's crude production.

The world's hottest shale play right now, the Permian, is boosting its oil production and contributing the most to the U.S. crude output growth.

Angola's crude exports fall to lowest since at least 2008 OPEC disruptions could send prices above $ 80 a barrel: BofAML While plunging output in Venezuela captures the oil world's attention, Continue Reading

Crude oil continues to trade lower than expected this year because shale producers have ramped their output, offsetting the OPEC - led production cuts.

US crude oil production shattered a 47 - year output record in November, and then retreated slightly in December, the Energy Information Administration said on Wednesday, as oil production from shale continued to upend global supply patterns.

* Market expects U.S. to re-impose sanctions against Iran * Plunging Venezuelan output further tightens markets * But soaring U.S. crude production holds back marketBy Henning GloysteinSINGAPORE, April 26 (Reuters)- Oil prices rose on Thursday, lifted by concerns over supply disruptions in Venezuela and theMiddle East as well as by strong demand.Brent crude oil futures were at 74.44 per barrel at0105 GMT, up 44 cents, or 0.6 percent, from their last close.UOil prices rose on Thursday, lifted by concerns over supply disruptions in Venezuela and theMiddle East as well as by strong demand.Brent crude oil futures were at 74.44 per barrel at0105 GMT, up 44 cents, or 0.6 percent, from their last close.Uoil futures were at 74.44 per barrel at0105 GMT, up 44 cents, or 0.6 percent, from their last close.U.S.

Saudi Arabia is likely to continue its policy of maintaining high crude production, which keeps oil prices from rebounding until high - cost producers like U.S. shale frackers curtail output, Kilduff said.

Update — Crude oil: Starting to see headline and murmurs about a potential for OPEC to freeze output — AGAIN!

After years of declining output, major oil companies have ramped up crude production this year, just as they are being battered by a plunge in prices due to already excessive supplies.

Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output to Continue Reading

Canada's struggling oil market has found something of a lifeline as traders scramble for heavy crude due to OPEC production cuts and sinking Latin American output.

Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won't raise their output beyond limits set at an OPEC meeting last Continue Reading

Usually, crude oil stocks rise as product stocks drop, and vice-versa, reflecting swings in refinery utilization, which simultaneously increase the demand for crude and output of petroleum products, and vice-versa.

It added, «Recent upsurge in vandalism has negatively impacted on the Nigerian crude oil production output, losing its African top crude oil producer to Angola.»

«It is our believes that, the 2017 national budget of the federal republic of Nigeria is not based on the crude oil production output from the Niger Delta but it is based on the newly found oil deposits in the North and the new pipelines construction from the Niger Republic,» the group stated.

Nigerian troops are deployed to the Niger delta where militants have been attacking oil facilities since the start of the year, cutting output and hammering government revenue at a time of low crude prices.

According to the U.S. Energy Information Administration, U.S. crude oil production averaged 7 million barrels per day (bbl / d) in December 2012 — the highest output since 1992.

The site bases its predictions on weekly industry reports that measure crude oil inventory and refinery output levels.

A new deal between OPEC, Russia and other big oil producers to limit output through the end of 2018 should help support current crude prices.

Capturing and sequestering 16 % of current global annual CO2 output would entail managing a mass of material very close to the mass of the 80mb / d of crude oil handled by the oil industry's entire infrastructure heritage — which has taken over a century to build while being funded by the planet's most profitable enterprise.

The study also found that both BTL - RC - CCS (biomass - to - liquids, with recycling of unconverted syngas to maximize FTL output and CCS) and cellulosic ethanol with CCS (EtOH - CCS) have negative GHGI emission values that can be exploited to offset GHG missions from difficult to decarbonize energy sources such as transportation fuels derived from crude oil.

In April 2010, the Guardian also highlighted: US military warns oil output may dip causing massive shortages by 2015 «• Shortfall could reach 10m barrels a day, report says • Cost of crude oil is predicted to top $ 100 a barrel» Why did it only take 1 year instead of 5 to reach $ 100 / bbl?!

For countries in the Organization for Economic Cooperation and Development (OECD), apparent consumption is derived from refined product output plus refined product imports minus refined product exports plus refined product stock changes plus other oil consumption (such as direct use of crude oil).