Sentences with phrase «low oil inventories»

This increase follows the reduction in OPEC's oil production quotas, effective from last November, and low oil inventories in the US.

Not exact matches

Oil is slightly lower but is just under the $ 60 a barrel mark, ahead of inventory data to be released at 10:30 am New York time today.

LONDON, May 3 - Oil prices slid lower on Thursday as swelling U.S. crude inventories and record weekly U.S. production offset concerns over OPEC supply cuts and the potential for new U.S. sanctions against Iran.

Although U.S. crude oil inventories are at «historically high levels» for this time of year, according to the Energy Information Adminstration's Weekly Petroleum Status report, Molchanov predicts inventories will trend lower by the middle of the year as prices recover.

Spooked investors afraid of Trump's trade war, slowing economy, technicals lagging, retails lagging, inventory too high, supplies too low, dollar too weak, yen too strong, infrastructure this, cash flow that, debt too high, oil higher today but lower tomorrow, and who knows what else which will be totally unimportant Continue reading →

Later in the morning, US stocks turned lower (S&P -12 to 2643, consumer staples lead decliners), with a further decline in oil (WTI to $ 66.91 - EIA Oil Inventories showed a much larger than expected build) weighioil (WTI to $ 66.91 - EIA Oil Inventories showed a much larger than expected build) weighiOil Inventories showed a much larger than expected build) weighing.

An unexpected rise in the API US Oil Inventory Report pushed oil lower (WTI down to $ 67.58) and weighed on stocOil Inventory Report pushed oil lower (WTI down to $ 67.58) and weighed on stocoil lower (WTI down to $ 67.58) and weighed on stocks.

Oil prices have arisen from the lows set in March, but a glut of inventory and few catalysts for dramatic jumps in global energy demand suggest 2015 earnings will likely be less than half of last year's tally.

That deal more than doubled Exxon's resource position to 6 billion BOE, giving it control of an extensive inventory of low - cost drilling locations that it can tap in the years ahead to grow output in an improving oil market.

Commodities are little changed in today's low volatility environment, with gold hovering around the $ 1275 level, while oil is trading near $ 47.50 per barrel after the decline of the past few sessions with the mixed US inventory and [production data causing some volatility.

The chart above shows that the U.S. Energy Information Administration estimates that commercial crude oil inventories at OECD countries could hit their lowest in two years by the end of 2017, coinciding with a sharp drop in U.S. inventories.

Low oil prices and the rouble's weakness account for Moscow's decline, whilst the pace of growth in Tokyo has slowed considerably and inventory levels are on the rise.

Oil prices pushed lower for most of last week on the news that U.S. commercial crude inventories rose to the highest level for this time of the year in at least 80 years, though prices reversed sharply on Friday.

U.S. oil inventories continued to streak lower for a record - breaking 10 weeks in a row even as U.S. oil production is approaching record levels.

«With greater confidence that the global oil market can finally shift into deficit later next year, we now believe that there is a strong rationale for low - cost producers to deliver a swift production cut to normalize inventories,» Goldman analysts wrote in a research note this week.

Crude oil inventories rose by 2.4 m barrels while both gasoline and distillate stocks were lower.

It's been a tough year so far for oil, with concerns about excess US inventory among factors driving prices lower.

DeHaan says that continued low gas prices in the U.S. can be attributed mostly to an increase in the amount of crude oil produced in the U.S., with American oil inventories up 27 percent compared to this time last year.

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Even though demand is low and inventories are high, the price of oil (NYSE: USO) remains at an elevated level above where it should be, based on supply and demand factors from the market.

Right now at least, pump prices are falling more or less in tandem with crude because of low demand from world economies and larger crude inventories from oil producing countries.

A strong local economy driven by the oil sector combined with low inventory led to the robust increases, but eroding affordability and interest rates that are expected to rise will likely lead to more moderate price appreciation in the second half of the year.

Inventory figures were low because so much oil was not offloaded.

â $ œI believe that although there may be a number of factors with regard to oil, the predominant factor by far is supply and demand, is the fact that global production and capacity hasnâ $ ™ t increased appreciably over the last 10 years and the demand has continued to grow and inventories are at low levels, â $?

Overall, the study found that methane emissions from all U.S. sources — including agriculture, oil and gas development, landfills, and coal mining — are 50 percent greater than estimates from the EPA Inventory, which recently lowered its estimate of methane emissions from oil and gas systems.

Despite the lower price of oil, the Greater St. John's Area has seen seven consecutive months of decreased inventory...