Sentences with phrase «oil price»

It's hard to verify independently the claims of retail traders who say they have made good money this year, when worries about a slowing Chinese economy and the slumping oil price have wiped up to $ 8 trillion from world stock markets in January alone.

«According to the most recent assessment, the steady oil price recovery since summer 2017 and renewed interest in growth opportunities has led to oil majors catching up in terms of exploration activity this year, both in the shale industry and offshore deep water,» OPEC said.

Plus, the oil price crash and subsequent recession in Alberta drove customers to discount competitors.

OPEC wants to have an open dialogue with upstart U.S. shale drillers and learn from oil market players, after the most painful downturn in six oil price cycles.

The oil price has risen by 15 percent in the last four weeks thanks to expectations that the United States will re-impose sanctions against Iran, a major oil producer and member of the Organization of the Petroleum Exporting Countries (OPEC).

The deal, when announced last autumn, was predicated on a recovery in the oil price to $ 60 per barrel by 2019, an increase that now seems less likely with a glut of crude still circling the globe and keeping prices below $ 50.

Based on a West Texas Intermediate crude oil price of $ 45 per barrel, those deposits are worth about $ 900 billion.

Vito had been designed with a rough assumption of a long - term oil price around $ 80 a barrel.

The oil price usually clusters along the upper edge of the short term GMMA.

Royal Dutch / Shell and BP on Tuesday joined peers in reporting higher than expected earnings by making further deep cuts in spending to cope with an oil price downturn now in its third year.

The oil price collapse has made a number of companies more attractive.

When the oil price collapsed, the $ 76 level offered very weak support.

The continued fallout from the oil price crash might have something to do this, Holt notes.

Investment bank Jefferies called current prices unsustainable and said production declines across most of the important non-OPEC producers is likely to set the stage for an oil price recovery in the second half of this year.

Called the «value - investment ratio,» it assesses the minimum oil price a project will need in order to throw off, far into the future, Shell's desired level of return.

The energy market could have a new benchmark oil price when Dubai launches its Middle East sour crude futures contract as an alternative to New York's NYMEX light crude oil futures and London's IPE Brent crude oil.

The prospects for an oil price recovery are still unclear, van Beurden said, despite attempts by OPEC and other producers to agree a deal to limit output and reduce the global glut which has pushed oil prices down by 50 % since June 2014.

«There are scalebacks when oil price drops like that,» says Feehely.

A May 2013 report from the Canadian Energy Research Institute estimated that new oil price break - even requirements would be, «$ 77.85 / bbl for SAGD projects; $ 103.16 / bbl for integrated mining and upgrading projects; and $ 99.49 / bbl for stand - alone mining projects.»

«We don't want these new projects to have to bear the burden of some of these (oil price) differentials,» he said, reiterating Suncor's commitment to build no new major oilsands projects without new pipelines.

For the full year, Exxon reported profits of $ 19.71 billion, its highest annual earnings since the start of an oil price slide in 2014, when it earned $ 32.52 billion.

(SAGD stands for Steam - Assisted Gravity Drainage; WTI for Western Texas Intermediate, a crude oil price benchmark.)

Coincidentally, the light oil price forecast of the day had also crept up, to U.S. $ 24 / bbl plus inflation, with oilsands production expected to reach 2.2 million barrels per day by 2015.

It comes as little surprise then that Saudi Arabia and Iran — apart from the tense regional archrivalry — are reportedly at odds over where to go next with the OPEC deal, and how high an oil price the cartel should target.

The oil price has risen by 15 percent in the last four weeks thanks to expectations that the United States will re-impose sanctions against Iran, a major oil producer and member of the Organization of the...

Although the oil price and the dollar have moved in tandem for the last few weeks, the two generally tend to trade in the opposite direction, as a stronger dollar encourages non-U.S. investors to sell oil and crude - importing countries to curtail their purchases.

«This will be the most expensive driving season since 2014,» said Tom Kloza, global head of energy analysis for Oil Price Information Service.

OPEC's largest producer and de facto leader — Saudi Arabia — is the most closely watched oil nation for hints about an unofficial oil price target, and speculation has been ripe since the start of the deal in January 2017 as to what price the Kingdom is aiming for.

That's up from about $ 2.39 per gallon a year ago, according to Oil Price Information Service.

The higher the oil price the Saudis (or OPEC) target and possibly reach, the more areas in the U.S. would be profitable to drill and add to the global oil supply, potentially wiping out the effect of the cuts and depressing oil prices again.

While energy companies have been shutting down wells in response to the present oil price slump, there are still more job openings than job seekers in this field, according to Job Bank Canada.

The oil price has risen by 15 percent in the last four weeks thanks to expectations that the United States will reimpose sanctions on Iran, a major oil...

But Exxon knew it was investing not for one year or two, but 40 — time enough to expect several oil price crashes.

If this unofficial oil price target were reached, however, it could backfire spectacularly on both sides of the oil - market - balance equation — supply and demand.

Crude oil prices in Canadian dollars for Brent (North Sea, UK), West Texas Intermediate (Cushing, OK, USA), and Edmonton Par.

NEW YORK, April 30 - Oil prices rose on Monday after Israel Prime Minister Benjamin Netanyahu said Iran had lied about pursuing nuclear weapons after signing a 2015 deal with global powers, while U.S. stocks fell with declines in healthcare shares.

I put more faith in futures markets than in private sector and budgetary forecasts, but given the recent escalation of oil prices, there is a reasonable chance prices end up matching or exceeding the estimates in Budget 2016.

At the same time the sudden decline in oil prices caused a slowdown in fracking activity.

But higher oil prices are certainly an inconvenience for drivers, especially those with lower incomes.

«I would say take Egypt over Saudi Arabia because the Saudi economy is more vulnerable to oil prices.»

The comments reflect those made by Saudi Oil Minister Khalid Al - Falih who this month said that oil prices could rise to $ 75 without causing economic damage.

Even Malaysia's national energy company, apparently, is pausing to heed the market signals as crude oil prices plunge.

The recession of 1973 - 1975 in the U.S. came about because of rocketing gas prices caused by OPEC's raising oil prices as well as embargoing oil exports to the U.S..

The central bank warned that the weaker oil prices could have an even more dramatic effect on the economy, and that heavily indebted households could stop spending.

Our energy sector has been hurt partly by low natural gas prices and the discount placed on Canadian oil compared to world benchmarks, but gas and oil prices have generally been flat or on the rise.

Brent oil prices eased off four - month highs of just over $ 75 a barrel set on Monday on worries that Trump may pull out of the 2015 Iran nuclear deal and thus bring back sanctions on its oil output.

SINGAPORE, May 2 - Oil prices were stable on Wednesday, supported by concerns that the United States may re-impose sanctions on major exporter Iran, although soaring U.S. supplies capped gains.

The much - anticipated international listing of Saudi Aramco — the world's largest oil company — is likely to be delayed until 2019, but that decision makes sense given that oil prices are expected to head to $ 80 per barrel, a private equity investor said.

The recent rise in oil prices fueled expectations the Federal Reserve could flag more interest rate hikes at its policy meeting this week.

Oil prices might have bottomed as output in the United States and other non-OPEC producers is beginning to fall quickly and an increase in supply from Iran has been less than dramatic, the International Energy Agency said on Friday.