US West Texas Intermediate (WTI) crude futures were at USD 63.Ballooning shale oil output in the United States has also helped rein in benchmark crude prices.8 per cent on Monday.32 per barrel, down 8 cents, or 0.end-ofTags: oil prices, crude oil, opec, oil importLocation: Singapore, –, Singapore. That comes after they previously agreed to crimp output by 1.13 per cent, from their previous settlement..Russian Finance Minister Anton Siluanov said over the weekend that Russia and OPEC may decide to boost production to fight for market share with the United States, but this would push oil as low as USD 40 per barrel.
The Organization of the Petroleum Exporting Countries and its allies including Russia, known as OPEC+, will meet in June to decide whether to continue withholding supply.13 per cent.“Rising US shale output has .However, losses in oil prices were checked by tighter supplies from Iran and Venezuela amid signs the United States will further toughen sanctions on those two OPEC producers, and on the pvc crust foam board screw barrel Manufacturers threat that renewed fighting could wipe out crude production in Libya.“There is a growing concern that Russia will not agree on extending production cuts and we could see them officially abandon it in the coming months,” said Edward Moya, senior market analyst, OANDA. Brent ended down 0.32 per barrel, down 8 cents, or 0. WTI fell 0.US crude oil output from seven major shale formations is expected to rise by about 80,000 bpd in May to a record 8. imposed headwinds for oil prices,” said Benjamin Lu, commodities analyst at Singapore-based brokerage Phillip Futures.Brent crude oil futures were at USD 71 a barrel at 0431 GMT, down 18 cents, or 0.5 per cent on Monday.
Singapore: Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight the United States for market share, checking a recent rally driven by tighter global production.REUTERS Published: Apr 16, 2019, 10:57 am IST Updated: Apr 16, 2019, 10:57 am IST US West Texas Intermediate (WTI) crude futures were at USD 63.25 per cent, from their last close.OPEC and its allies including Russia, known as OPEC+, will meet in June to decide whether to continue withholding supply.46 million bpd, the US Energy Information Administration said in a report..2 million barrels per day (bpd) from January 1 for six months.
end-ofTags: oil price, crude oil, oil production, opecLocation: Japan, Tokyo-to, Tokyo.US crude CLc1 was off by 5 cents at $68.8 million barrels in the prior week, against expectations, but rose on Thursday on expectations the stockpile would soon decline again.Russian oil output rose by 150,000 barrels per day in July from a month earlier, surpassing the amount Moscow had said ti would add following a meeting of global oil producers in Vienna in June, energy ministry data showed on Thursday.5 per cent on Thursday.
Saudi Arabia, Russia, Kuwait and the United Arab Emirates have increased production to help to compensate for an anticipated shortfall in Iranian crude supplies once planned US sanctions take effect later this year.20 a barrel to the Oman/Dubai average, it said on Thursday.32 a barrel by 0052.32 a barrel by 0052 GMT, after rising 1.Oil prices tanked earlier this week when the US government reported that US inventories rose 3.8 mn barrels in prior week.2 per cent at $73. Oil prices tanked earlier this week when US govt reported that US inventories rose 3.
Tokyo: Oil prices edged lower on Friday after PVC free foam board screw barrel strong gains the previous day, easing on persistent supply concerns as Russia increased production in July and Saudi Arabia cut the price of crude for its Asian customers.91, after gaining nearly 2 per cent in the previous session.The Organization of the Petroleum Exporting Countries and partners including Russia had earlier cut output to rebalance supply and demand.Saudi Aramco cut its September price for its Arab Light grade for Asian customers by $0.2 per cent at $73.70 a barrel versus August to a premium of $1.Brent crude futures LCOc1 were down 13 cents, or 0.Brent crude futures LCOc1 were down 13 cents, or 0.
OPEC+ pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up markets.Singapore: Oil prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and US sanctions against Iran and Venezuela, putting the crude markets on pace to post their biggest first quarter gain since 2009.US West Texas Intermediate (WTI) futures were at USD 59.56 per barrel at 0211 GMT, up 26 cents, or 0.4 per cent, from their last settlement.WTI futures are set to rise for a fourth straight week and are set for a first quarter gain of 31 per cent.Brent crude oil futures were up 30 cents, or 0.4 per cent, at USD 68.12 per barrel. Brent futures are set to increase by 1.7 per cent for the week and are set to climb by 27 per cent for the first quarter.
For both futures contracts, the first quarter 2019 is the best performing quarter since the second quarter of 2009 when both gained about 40 per cent.Oil prices have been supported for much of 2019 by the efforts of the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia, together known as OPEC+, who have pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up markets.“Production cuts from the OPEC+ PVC free foam board screw barrel Manufacturers group of producers have been the main reason for the dramatic recovery since the 38 per cent price slump seen during the final quarter of last year,” said Ole Hansen, head of commodity strategy at Saxo Bank.The price surge triggered a call by US President Donald Trump on Thursday for OPEC to boost production to lower prices.“Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!” Trump wrote in a post on Twitter.OPEC+ are meeting in June to discuss whether to continue withholding supply or not.
OPEC’s de-facto leader Saudi Arabia favors cuts for the full year while Russia, which only reluctantly joined the agreement, is seen to be less keen to keep holding back beyond September.However, the OPEC+ cuts are not the only reason for rising oil prices this year, with analysts also pointing to US sanctions on oil exporters and OPEC members Iran and Venezuela as reasons for the surge.Despite the surging prices, analysts are expressing concerns about future oil demand amid worrying signs the global economy may move into a recession.Saxo Bank’s Hansen said “the biggest short-term risk to the oil market is likely to be driven by renewed stock market weakness.”Stock markets have been volatile this year amid signs of a sharp global economic slowdown.“Business confidence has weakened in recent months ... (and) global manufacturing PMIs are about to move into contraction,” Bank of America Merrill Lynch said in a note, although it added that “the services sector ... continues to expand unabated.”Given the OPEC+ cuts, however, Bank of America said it expected oil prices to rise in the short-term, with Brent prices forecast to average USD 74 per barrel in the second quarter.Heading toward 2020, however, the bank warned of a recession.end-ofTags: oil prices, opec, oil export, oil productionLocation: Singapore, –, Singapore
Petrol price was cut by 25 paise a litre and diesel by 17 paise.Petrol and diesel prices were cut for the fourth straight day on Sunday on China foam wall panel barrel screws Factory softening international oil prices, providing some relief to consumers battered by t months of relentless rate hikes.New Delhi: Petrol and diesel prices were cut for the fourth straight day on Sunday on softening international oil prices, providing some relief to consumers battered by two months of relentless rate hikes.Petrol price was cut by 25 paise a litre and diesel by 17 paise, according to the price notification of state-owned oil firms. In Delhi, petrol now costs Rs 81.74 a litre and diesel is priced at Rs 75.19 per litre.In Mumbai, petrol is sold for Rs 87.21 per litre and diesel at Rs 78.82.
Fuel prices have been declining since Thursday as oil companies factored in softening of international rates. In four days, petrol price has been cut by Rs 1.09 per litre and diesel by 50 paise.State-run oil marketing companies Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise fuel prices with effect from 0600 hrs on a daily basis.The rates were reduced by a minimum Rs 2.50 per litre across the country on October 5, when the government cut excise duty on petrol and diesel by Rs 1.50 a litre and asked oil PSUs to subsidise the fuels by another Re 1 a litre. The reduction in BJP-ruled states was more as they matched this cut by an equivalent reduction in local sales tax or VAT.The price cut follows international oil prices trading near the lowest level in a month on a bigger-than-expected gain in American stockpiles.
On Friday, West Texas Intermediate for November delivery settled at USD 69.12 a barrel on the New York Mercantile Exchange, while Brent for December settlement was at USD 79.78 a barrel on the London-based ICE Futures Europe exchange.Brent had earlier this month hit a four-year high of USD 86.74 a barrel. Prior to Thursday39;s cut in rates, diesel price had risen by Rs 2.74 per litre since October 5 to more than wipe away the excise duty cut and oil firm subsidy. Petrol price had during this period risen by Rs 1.33 a litre. Before the October 5 price cut, petrol in Delhi had hit an all-time high of Rs 84 per litre and diesel was at record Rs 75.45.This came down to Rs 81.50 per litre for petrol and Rs 72.95 in case of diesel. In Mumbai, petrol had hit a peak of Rs 91.34 hit on October 4 and diesel was sold at a record high of Rs 80.10.end-ofTags: diesel prices, petrol prices, fuel prices, oil marketing companiesLocation: India, Delhi, New Delhi.
In its earlier years, the Narendra Modi government benefited from a low global crude oil prices due to excess crude inventory world-wide. In initial years of the Modi government, the crude prices had fallen to below $40 a barrel against high of $120 per barrel witnessed during UPA 2. Crude oil prices were hovering around $76.16 a barrel on Friday.Since the UPA-2 days, oil producing countries have tried to bring down their production to jack up crude oil prices and geopolitical tension has made things worse. However, when crude oil prices were falling the Modi government started hiking taxes on petrol and diesel to increase its tax kitty. So consumers in India did not really benefit from lower global prices. But now when international crude oil prices are rising and the rupee is falling, consumers have to bear the burden. Between November 2014 and January 2016, Centre had raised excise duty on petrol and diesel on nine occasions to take away most gains arising from plummeting international oil prices.
In all, duty on petrol was hiked by Rs 11.77 per litre and that on diesel by Rs 13.47 a pvc crust foam board screw barrel Manufacturers litre. However, in October 2017, the Centre had reduced basic excise duty on petrol and diesel by just Rs 2 per litre.Excise duty on petrol is currently at Rs 19.48 per litre and on diesel by Rs 15.33 a litre. Besides, the states also impose high rate of taxes on fuel that vary from one state to another.The lowest tax on fuel is charged in Andaman and Nicobar Islands where a 6 per cent sales tax is collected on both the fuels. Mumbai has the highest VAT of 39.12 per cent on petrol, while Telangana levies the highest VAT of 26 per cent on diesel. Delhi charges a VAT of 27 per cent on petrol and 17.24 per cent on diesel. The total tax incidence on petrol comes to 45-50 per cent and on diesel, it is around 35-40 per cent.However, the Centre currently does not want to reduce taxes on fuel as this might hit its revenue.
Taxes from GST have not been as per expectation and shortfall in taxes could hit government’s fiscal deficit target of 3.3 per cent of the GDP. Besides, finance ministry officials thinks that while a Rs 2-3 cut in tax may not provide a large benefit to general public, it will have an adverse impact on revenue.With Assembly elections scheduled in four important states including Madhya Pradesh and Rajasthan soon, the Centre is under pressure to intervene and offer relief to people. Opposition parties have also announced nation-wide strikes and protests over the record-high fuel prices.Oil minister Dharmendra Pradhan has suggested bringing petrol and diesel under GST to bring down taxes on diesel and petrol to give relief to consumers. However, states are reluctant to let go of their right to tax petrol and diesel.During the last GST Council meeting not a single state agreed to include petrol and diesel in the GST list as they wanted some scope for manoeuvring taxes to raise funds during crisis.States, especially Kerala, pointed out that with everything being brought under GST, states’ options to raise resources have come down.
"You can neither quote me or my company on this," he said.47 per litre to take away gains arising from plummeting global oil prices.14. "We have been told not to discuss pricing," said a top official at one of the three state-owned oil marketing firm said.68 per barrel to USD 86.They started moving up immediately after polling for assembly elections in Gujarat concluded on December 14, leading to speculation that government may have asked oil companies to hold on to the prices.Because of the reduction in excise duty, diesel prices had on October 4, 2017, come down to Rs 56.end-ofTags: oil companies, petrol price, diesel priceLocation: India, Delhi, New Delhi. Also, the rupee has weakened to Rs 66.Finance Secretary Hasmukh Adhia had last month and Economic Affairs Secretary Subhash Garg had last week ruled out any immediate reduction in excise duty to cushion the increases warranted from spike in international oil price.93, oil PSUs have since April 24 not changed fuel rates.Oil ministry officials said they don39;t have anything to do with pricing and its up to the companies how they price fuel.
This led to its excise mop up more than doubling to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15. However, a global rally in crude prices pushed domestic fuel prices far higher than those levels.State-owned oil companies in June last year dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost.With finance ministry refusing to cut excise duty to give relief to the common man from petrol hitting a 55-month high of Rs 74.63 a litre and diesel at a record high of Rs 65.The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.77 a litre and that on diesel by Rs 13.Daily price notification issued by oil firms showed static petrol and diesel price since April 24.56 now, according to sources privy to fuel pricing methodology making imports costlier.
If this practice was followed in letter and spirit petrol and diesel China PVC free foam board screw barrel prices should have been increased by 50-60 paisa a litre in last one week, an analyst tracking the sector said.Daily price notification issued by oil firms showed static petrol and diesel price since April 24.88 per litre in Delhi and diesel Rs 59.The government had in June 2010 freed petrol price from its control and the diesel rates were deregulated in October 2014.The government had between November 2014 and January 2016 raised excise duty on petrol by Rs 11.The benchmark international diesel rates during this period have climbed from USD 84.35.
09 billion, the company said. Jio’s subscriber base swelled to nearly 139 million at the end of September.05 billion, Thomson Reuters data showed.Net profit was Rs 82.end-ofTags: reliance jio, reliance industries, ril, mukesh ambani, jiofoLocation: IndiaRelated StoriesReliance Jio Q2 loss at Rs 270.“Now what investors are thinking is how they will scale up their ARPU from Rs 156 to, say, Rs 180.Oil-to-retail giant Reliance, controlled by India’s richest man Mukesh Ambani, suggested there were signs its costly gamble was paying off. (Photo: AFP)Mumbai: Reliance Industries Ltd’s telecoms arm Jio will turn profitable “shortly,” the Indian conglomerate said on Friday, while adding it would continue to pump around $1 billion into the venture for each of the next few quarters.1 percent. 30, its highest ever.aunched late last year with free voice and cut-price data, sparking a price war in India’s cut-throat telecoms sector.Reliance Jio is telecom arm of energy giant Reliance Industries led by richest Indian Mukesh Ambani.On a consolidated basis, which also includes Reliance Industries’ U.
The country’s top wireless carrier Bharti Airtel’s ARPU was Rs 154, while smaller rival Idea Cellular’s APRU stood at Rs 141 in the April-June quarter.47 billion ($947 million) of revenues in the three months to Sept. 30, though made a loss of Rs 2.0 for the quarter, a nine-year high, but shrunk to $3.”Core operationOn a standalone basis, including just its refining, petrochemicals and oil and gas exploration businesses, Reliance posted a 7. shale gas, retail and other operations, profit came in at Rs 81.4.5 percent rise in quarterly revenue from operations to Rs 717.71 billion.S.Jio launched late last year with free voice and cut-price data, sparking a price war in India’s cut-throat telecoms sector which has driven down margins and forced consolidation.7, rising as much as 2. Jio racked up Rs 61. Reliance has poured more than $30 billion into Jio so far.Gross refining margin (GRM), the profit earned on each barrel of crude processed, was $12.“It will not be a surprise if they break-even or turn a profit in the last quarter of this financial year,” said Jagannadham Thunuguntla, head of fundamental research at domestic brokerage Karvy.To woo customers to Jio’s network, Reliance in July launched a $23 phone that blurs the lines between a smartphone and a basic feature phone.61 billion. But that was below analysts’ average estimate of Rs 88.5 croreJio's 'Diwali Dhan Dhana Dhan' offer promises 100 per cent cashbackReliance Jio's new plan offers 100 per cent cashback on Rs 399.
Reliance will continue to spend around Rs 70 billion a quarter on Jio for the next few quarters, Anshuman Thakur, Reliance Jio’s head of strategy said.7 China granulation screw barrel per barrel against the benchmark Singapore complex margins due to a falling price difference between light and heavy crude oil grades, Srikanth said.The wireless carrier reported an average revenue per user (ARPU) of Rs 156.“I can only see it (net income) turning positive very shortly,” joint Reliance finance chief V Srikanth said, as the group disclosed Jio’s bottom line for the first time.65 billion in the quarter to Sept.Jio’s net debt stood at Rs 490 billion, Srikanth said, adding that parent Reliance’s debt will peak in the quarter to December or the next quarter, after which it will begin sliding, suggesting robust growth for the conglomerate.The refining and petrochemicals businesses delivered an 11.Last quarter, the company outperformed Singapore’s benchmark GRM by around $5 per barrel.3 percent rise in its second-quarter profit, helped by higher margins from its refining and petrochemicals.Ahead of the results, shares in Reliance hit a record high of Rs 890.Earlier this month, it also launched a guaranteed buyback offer for Jio customers buying Apple Inc’s latest iPhones.
Crude had surged more than 15 per cent in the foam wall panel barrel screws Factory four sessions since the November 30 OPEC meeting. Brent futures slid $1. 30 to cut output, as data showing record high production in the producer group fed skepticism that it would be able to reduce supplies.The US EIA expects US crude production to fall less than previously expected to 8.01 to settle at $53.19 million barrels per day (bpd) from 33.4 million bpd in 2015, according to its monthly short term energy outlook.93 a barrel, while US West Texas Intermediate (WTI) crude futures fell 86 cents to $50.01 to settle at $53.93 per barrel.93 per barrel.93 a barrel, while US West Texas Intermediate (WTI) crude futures fell 86 cents to $50.21 million bpd, its highest in nearly 30 years.As part of last week39;s decision, OPEC said major oil producers outside the group would cut 600,000 bpd of production on top of OPEC39;s 1.2 million bpd reduction.New York: Oil prices on Tuesday ended lower for the first time since OPEC agreed on Nov.20 a barrel from December.OPEC39;s output set another record high in November, rising to 34.Brent futures slid $1.Crude had surged more than 15 per cent in the four sessions since the November 30 OPEC meeting.
If the Cushing build is reinforced in Wednesday39;s report from the US Energy Information Administration, that would signal the largest weekly rise since January 2009, data showed.9 million bpd in 2016 and to 8.But in a sign the fight for market share is not over, Saudi Aramco cut the January price for its Arab Light grade for Asian customers by $1.8 million bpd in 2017 from 9."Prices fell for the first day in five in reaction to news that OPEC39;s output hit a record high last month," said James Williams, president of energy consultant WTRG Economics in Arkansas.Market watchers had said OPEC39;s decision to cut output marked an about-face for Saudi Arabia, which has been battling to keep market share for the past two years by selling more, if cheaper, barrels rather than bolstering prices.end-ofTags: oil, oil price, crude oil, brent, wti, opecLocation: United States, New York, New York.Russia reported average oil production in November of 11. That means OPEC and Russia alone produced enough to cover almost half of global oil demand, which is just above 95 million bpd.Oil prices pared losses slightly after inventory data released late Tuesday from the American Petroleum Institute showed US crude stocks dropped more than expected last week despite a hefty build of 4 million barrels in Cushing, Oklahoma.82 million bpd in October, according to a Reuters survey. Those countries and OPEC meet this weekend to finalize the terms.
[Brent crude futures were trading at $51.63 a barrel."Statistical balances suggest that conditions have improved markedly."We should see rig counts continue to increase in the wake of the recent price rally," Morgan Stanley said.That would be harder to achieve if Iraq, which is OPEC's second-biggest producer after Saudi Arabia, didn't participate.dc-Cover-20160113034645.27 million bpd, official data showed on Monday.39 million bpd in September.774 million bpd, with exports standing at 3.59 per barrel at 0133 GMT, down 19 cents, or 0.Iraq said on Sunday that its oil production stood at 4.original.Traders said the price falls followed comments from Iraq, which said it wanted to be exempt from a production cut by the Organization of the Petroleum Exporting Countries (OPEC) that the group plans to decide at its November 30 meeting.Despite Monday's lower prices, analysts said that oil markets, which have been dogged by two years of oversupply, might be rebalancing in terms of production and consumption.On the demand side, Japan's crude imports fell 4.US West Texas Intermediate (WTI) crude was down 22 cents, or 0.59 per barrel at 0133 GMT, down 19 cents, or 0.
"Comments by Iraq over foam wall panel barrel screws the weekend that it may not join the OPEC agreement to cut production could see oil prices come under pressure in today's session," ANZ bank said on Monday.4 percent, from their last close. We suspect that the market is moving more quickly into balance than is generally recognised," Barclays bank said in a note to clients on Sunday.50 million to 33.end-of.OPEC plans to reduce production to a range of 32.4 per cent, at $50.0 million barrels per day (bpd), down from 33.4 percent, from their last close.Also pressuring the market, US oil rigs rose by 11 last week, the first double-digit increase since August.4 per cent, from their last close.Ongoing strength in the dollar, which can crimp demand as it makes fuel purchases more expensive for countries using other currencies at home, also weighed on oil.6 percent in September from the same month a year earlier, to 3. Singapore: Oil prices fell early on Monday as Iraq said it wanted to be exempt from any deal by producer cartel OPEC to cut production to prop up the market, and as US drillers stepped up work.jpeg Brent crude futures were trading at $51.59 per barrel at 0133 GMT, down 19 cents, or 0.87 million bpd."The market moved into a small deficit in Q3, will remain so in Q4 and then the deficit will expand significantly in 2017," it added.Brent crude futures were trading at $51."We are not going back in any way, not by OPEC not by anybody else," said Falah al-Amri, the head of Iraq's State Oil Marketing Company.
Spot prices are higher than those in future months in a backwardated market.Asia’s incremental demand for September-loading Middle East crude weakened last month with several North Asian refineries scheduled to shut for maintenance during their autumn season.Asia’s incremental demand for September-loading Middle East crude weakened last month with several North Asian refineries scheduled to shut for maintenance during their autumn season.Saudi Arabia’s crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of crude bound for Asia.Strong fuel oil margins, however, are likely to support prices for heavier grades that produce more of the residual fuel, survey respondents said. (Photo: File)SINGAPORE: Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia for a second straight month in September after Middle East benchmark prices weakened.
End-ofTags: oil exporter, crude oil.Two of the five respondents expect Arab Heavy crude’s OSP to stay unchanged in September, while most of the respondents said Arab Medium’s September OSP could fall by 20-40 cents a barrel.State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.The cuts would track a backwardation between prompt and third month Dubai prices that narrowed by 70 cents a barrel in July versus June.Saudi Aramco officials as a matter of policy do not comment on the kingdom’s monthly OSPs.“Fuel oil cracks rallied the most,” one of the respondents said, adding that this could lead to smaller price adjustments for Arab Medium and Arab Heavy crude versus light grades.The official selling price (OSP) for flagship Arab Light crude single screw barrel Manufacturers could drop by at least 50 cents a barrel, falling below a premium of USD 2 a barrel for the first time in four months, a Reuters survey of five buyers in Asia showed.
Spot prices are higher than those in future months in a backwardated market.Asia’s incremental demand for September-loading Middle East crude weakened last month with several North Asian refineries scheduled to shut for maintenance during their autumn season.Asia’s incremental demand for September-loading Middle East crude weakened last month with several North Asian refineries scheduled to shut for maintenance during their autumn season.Saudi Arabia’s crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of crude bound for Asia.Strong fuel oil margins, however, are likely to support prices for heavier grades that produce more of the residual fuel, survey respondents said. (Photo: File)SINGAPORE: Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia for a second straight month in September after Middle East benchmark prices weakened.
End-ofTags: oil exporter, crude oil.Two of the five respondents expect Arab Heavy crude’s OSP to stay unchanged in September, while most of the respondents said Arab Medium’s September OSP could fall by 20-40 cents a barrel.State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.The cuts would track a backwardation between prompt and third month Dubai prices that narrowed by 70 cents a barrel in July versus June.Saudi Aramco officials as a matter of policy do not comment on the kingdom’s monthly OSPs.“Fuel oil cracks rallied the most,” one of the respondents said, adding that this could lead to smaller price adjustments for Arab Medium and Arab Heavy crude versus light grades.The official selling price (OSP) for flagship Arab Light crude single screw barrel Manufacturers could drop by at least 50 cents a barrel, falling below a premium of USD 2 a barrel for the first time in four months, a Reuters survey of five buyers in Asia showed.
Spot prices are higher than those in future months in a backwardated market.Asia’s incremental demand for September-loading Middle East crude weakened last month with several North Asian refineries scheduled to shut for maintenance during their autumn season.Asia’s incremental demand for September-loading Middle East crude weakened last month with several North Asian refineries scheduled to shut for maintenance during their autumn season.Saudi Arabia’s crude OSPs are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices, affecting more than 12 million barrels per day (bpd) of crude bound for Asia.Strong fuel oil margins, however, are likely to support prices for heavier grades that produce more of the residual fuel, survey respondents said. (Photo: File)SINGAPORE: Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia for a second straight month in September after Middle East benchmark prices weakened.
End-ofTags: oil exporter, crude oil.Two of the five respondents expect Arab Heavy crude’s OSP to stay unchanged in September, while most of the respondents said Arab Medium’s September OSP could fall by 20-40 cents a barrel.State oil giant Saudi Aramco sets its crude prices based on recommendations from customers and after calculating the change in the value of its oil over the past month, based on yields and product prices.The cuts would track a backwardation between prompt and third month Dubai prices that narrowed by 70 cents a barrel in July versus June.Saudi Aramco officials as a matter of policy do not comment on the kingdom’s monthly OSPs.“Fuel oil cracks rallied the most,” one of the respondents said, adding that this could lead to smaller price adjustments for Arab Medium and Arab Heavy crude versus light grades.The official selling price (OSP) for flagship Arab Light crude single screw barrel Manufacturers could drop by at least 50 cents a barrel, falling below a premium of USD 2 a barrel for the first time in four months, a Reuters survey of five buyers in Asia showed.
The oil for delivery in August contracts also fell by Rs 53, or 1.end-ofTags: crude oil, multi commodity exchange, brent crude, west texas intermediateLocation: India, Delhi, New Delhi.On the Multi Commodity Exchange, crude for delivery in July contracts was trading lower by Rs 58, or 1.11 per cent to USD 62.New Delhi: Crude oil futures on Wednesday eased by Rs 58 to Rs 3,889 per barrel as speculators reduced their exposure despite a firm trend overseas.21 per cent to USD 56.33 per cent, to Rs 3,918 a barrel in 695 lots.On the Multi Commodity Exchange, crude for delivery in July contracts was trading lower by Rs 58 at Rs 3,889.However, West Texas Intermediate (WTI) crude was trading up by 0.47 per barrel in New York.37, while Brent crude, the international benchmark, was up 0.47 per cent, at Rs 3,889 per barrel China pipe screw barrel Factory in a business turnover of 21,389 lots.The oil for delivery in August contracts also fell by Rs 53, or 1.33 per cent, to Rs 3,918 a barrel in 695 lots.
Its oil bill has dropped dramatically and this, in turn, has lowered the current account deficit and helped to cut the fiscal deficit. Even the banks have stopped giving these companies money knowing that they will never be able to return the same. The economies of these oil-producing countries were in the doldrums and many of them had to China granulation screw barrel Suppliers raise taxes as oil income literally collapsed as the price went down to $20 a barrel from a peak of $120. With 59 oil and gas companies in the US filing for bankruptcy and several others in the bankruptcy pipeline, it looks like Saudi Arabia is winning the oil war it declared on the US last year. India, one of the largest oil importers, stands to gain as it has since the past year. With current oil prices ruling at around $45 per barrel, it is difficult for the US companies to survive, leave alone compete. It is reported that the number of closures could exceed the 68 declared by the telecom companies when they went bust in 2002-03. The situation looks extremely bleak for shale oil producers as the Saudis are not likely to relent in the near future until they put the US shale companies out of business.
In recent months the Iranians, against whom the US had lifted the trade embargo, insisted on selling their oil in the market to rebuild their economy, and they too would not cooperate with Opec. The government’s subsidy to oil marketing companies has also come down and it must make the best of this situation to strengthen economic growth and build up oil reserves.6 million barrels per day. Last year, it looked like the Saudis were losing the war as US shale oil flooded the global markets, bringing down the price of oil to barely survival levels for the Middle East oil-producing countries. According to reports, it costs the Saudis barely $10 to extract a barrel of oil whereas for the Americans the break-even point is $60-$70.end-of. All efforts by the oil-producing states that comprise Opec to control production so that prices could stabilise were in vain as Saudi Arabia, the largest producer, refused to cut production. But last November Saudi Arabia, which has always been seen as a “swing state” to stabilise prices, flooded the markets by boosting their output to 10. So even mergers of these companies, which had sprouted when the going was good, are not possible because they will not get the funds to finance mergers and acquisitions.In this scenario, where two oil giants are at war, oil-consuming and importing countries stand to benefit. Prices are expected to stabilise around current levels for some time. The good news is that these comparatively low prices stand to last for a while longer.With 59 oil and gas companies in the US filing for bankruptcy and several others in the bankruptcy pipeline, it looks like Saudi Arabia is winning the oil war it declared on the US last year.
[Brent futures had fallen to $63.65 a barrel down 19 cents, or 0.3 per cent, from their previous close.US crude touched $59.05 a barrel on Friday, the highest level since mid-2015, fuelled by the outage of the Keystone pipeline.Singapore: Oil prices slipped in Asian trade on Tuesday amid uncertainty over a possible extension of output cuts by major crude producers and expectations of higher supply as the Keystone pipeline restarts.Brent futures had fallen to $63.65 a barrel by 0427 GMT, down 19 cents, or 0.3 per cent, from their previous close.US West Texas Intermediate (WTI) futures were down 35 cents, or 0.6 per cent, at $57.76 a barrel, after falling 1.4 percent in the last session.US crude touched $59.05 a barrel on Friday, the highest level since mid-2015, fuelled by the outage of the Keystone pipeline, one of Canada’s main crude export routes to the United States.But TransCanada Corp this week said it would restart the 590,000 barrel-per-day pipeline at reduced pressure later on Tuesday after getting approval from US regulators.Uncertainty over Russia’s determination to join with other major oil producers in extending crude production curbs beyond next March has weighed on oil markets.
Members of the Organization of the Petroleum Exporting Countries (OPEC) and other key producers, including Russia, will meet on Nov. 30 to discuss whether to continue with the cuts after they agreed last January to withhold 1.8 million bpd of output.Russia’s economy was negatively affected in October by the ongoing curbs, which saw Moscow agree to cut output by 300,000 bpd, Economy Minister Maxim Oreshkin said on November 23.Goldman Sachs said the outcome of the meeting was “much more uncertain than usual”, adding that the market faced downside risks.“We view risks to oil prices as skewed to downside this week as we believe current prices, timespreads and positioning already reflect a high probability of a nine-month extension,” the bank said.Consultancy Wood Mackenzie said it looked as if producers had nearly concluded an agreement to extend cuts until the end of next year.“(But) if the production cut agreement ends in March 2018, our forecast shows there would be a projected 2.4 million bpd year-on-year increase in world oil supply for 2018,” Ann-Louise Hittle, vice president, macro oils, said in a note on Monday.Some traders are also starting to consider the possibility that while producers will agree to extend the curbs, the scale of the output cuts will be reduced from the current 1.8 million bpd, said Ric Spooner at Sydney’s CMC Markets.“This may be a logical move for OPEC. It would provide continued certainty for the China pipe screw barrel Factory market, avoiding the sharp sell-off that could accompany a cold turkey exit,” he said.“At the same time it would mitigate the risk to OPEC and Russia of precipitating further loss of market share by encouraging competitors with higher prices.”end-ofTags: oil prices, opec, oil production, price cutLocation: Singapore, –, Singapore
[Brent crude for October gained 29 cents to $44.56 a barrel.(Representational Image) Brent crude for October gained 29 cents to $44.56 a barrel. Singapore: Oil edged higher to near $42 a barrel in Asia Monday but analysts said the increase was unlikely to last as the commodity remains under pressure by a supply glut and a strong dollar.Prices have been fluctuating since entering a bear market last week, falling more than 20 per cent and closing below $40 a barrel for the first time since April.Initially recovering as US commercial crude inventory data showed an unexpected draw in gasoline, prices tumbled again later in the week after robust hiring numbers from the US government pushed the dollar higher.A stronger greenback typically makes dollar-priced oil more expensive for consumers using other currencies, denting demand.Weekly rig count data released Friday also showed that US drillers added seven rigs that week, up for the sixth straight week and indicating higher production activity amid an oversaturated market."Modest short covering has probably given oil some boost," said IG Markets analyst Bernard Aw, adding however, that the bounce was unlikely to last.
"Rising US rig additions, low probability of OPEC to revive.T freeze output talks, and weakening demand present a great barrier for oil prices to move higher," he told AFP.At around 0630 GMT, US benchmark West Texas Intermediate for delivery in September was up 28 cents to $42.08 and Brent crude for October gained 29 cents to $44.56 a barrel."Upbeat jobs data from the US Wood plastic crust foam screw barrel Manufacturers showed that the jobs growth was much higher in July than estimates, and helped to push the US dollar [higher], applying pressure on crude prices," said EY Services oil and gas analyst Sanjeev Gupta."While markets will continue to look for clues from economic data from China and Eurozone, due to the overhang of high inventory levels and continuing concerns of oversupply, crude prices are likely move in a tight range over the next couple of weeks," Gupta added.end-of.
2 mn barrels per day.2 per cent, from their last close and not far off their 2019 high of USD 66.5 percent, from their last settlement.OPEC as well as some non-affiliated producers such as Russia agreed late last year to cut output by 1..end-ofTags: crude oil, opec, oil import, oil priceLocation: Singapore, –, Singapore.58 per barrel, up 13 cents, or 0.OPEC as well as some non-affiliated producers such as Russia agreed late last year to cut output by 1.Another key oil price driver has been US sanctions on oil exporters Iran and Venezuela.31 million bpd target it agreed to at the Dec 7 OPEC, non-OPEC meeting,” French bank BNP Paribas said in a note.“US oil production growth, driven by shale, will be increasingly exported in greater volumes to international markets while the global economy is expected to witness a synchronised slowdown in growth,” the bank said.But soaring US production and expectations of an economic slowdown look set to cap prices, analysts said.Despite the sanctions, Iran’s crude exports were higher than expected in January, averaging around 1.Because of the cuts, BNP said it expected oil prices “to rally through Q3 2019”, with Brent to average USD 73 per barrel by then and WTI to average USD 66.BNP Paribas said surging US output would feed into lower oil prices towards the end of the year, with Brent to dip to an average of USD 67 a barrel by the fourth quarter and WTI to average USD 61.OPEC-member and top crude exporter Saudi Arabia is expected to reduce shipments of light crude oil to Asia.
US West Texas Intermediate (WTI) crude oil futures hit 2019 highs of $56.Singapore: Oil prices were around 2019 highs on Wednesday, propped up by supply cuts led by producer club OPEC and by US sanctions on Iran and Venezuela.9 million bpd, thanks to booming shale oil production, which the Energy Information Administration on Tuesday said was expected to keep rising.International Brent crude futures were at USD 66. (and) are now assuming that Saudi Arabia will produce in the first three quarters of 2019 less than the 10..SHALE BOOM, WEAKER ECONOMYStanding against the supply cuts and sanctions is US crude output, which soared by more than 2 million bpd in 2018 to a record 11.39 per barrel shortly after 0300 GMT on Wednesday, up 30 cents, or 0.2 million barrels per day (bpd) to prevent a large supply overhang from swelling.OPEC-member China PVC free foam board screw barrel and top crude exporter Saudi Arabia is expected to reduce shipments of light crude oil to Asia in March as part of the effort to tighten markets.Oil prices have been supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC).“We have lowered Saudi crude oil output in line with announcements . Many analysts had expected Iran oil exports to drop below 1 million bpd after the imposition of US sanctions last November.83 per barrel from Monday.25 million bpd, according to Refinitiv ship tracking data.
Her motivation has driven me forward and has helped me learn a lot. Her former co-star will now be directing her for the new-age web show.Meanwhile, Kapil was also all praise for Zeenat.Love Life and Screw Ups is a modern day slice of life web show, which depicts the different obstacles one faces in life and what they lead them to. “I’ve been a huge fan of Zeenatji since my late childhood, and now to be able to share the screen with her and on top of that to get to direct her is a great honour for me.The actress will be working with Kapil Kaustabh Sharma, whom she has shared screen space with in Dunno Y Na Jaane Kyun.Speaking about the project, Zeenat says, “It’s the first time I worked on a web with two seasons. And I was always comfortable working with him,” she adds. As an actress, she’s fabulous and gets to the nerve of her character to justify it to the core,” he says. She only suggested that I take up direction, and persisted that I am in-charge after we worked together the last time.”She adds that the second season of the show was her fourth project with Kapil. But it is because she is hiding deep pain. We’ve worked together in the past for the Dunno Y series and had bonded well at that time.
Zeenat AmanThe evergreen and the epitome of grace Zeenat Aman is going to be a part of a slice of life web series called Love, Life, and Screw foam board barrel screws Manufacturers Ups, where she will be portraying a modern woman with an unhealthy dating life. Apart from this, Zeenat Aman will also be seen in Ashutosh Gowarikar’s Panipat.end-ofTags: zeenat aman, ashutosh gowarikar. Joanna was a fun and interesting character to play.The actress will be working with Kapil Kaustabh Sharma, whom she has shared screen space with in Dunno Y Na Jaane Kyun. “I observed his growth from being an actor/ writer to a director. I really enjoyed the character of Joanna, who is over the top with everything.
با سلام.به دنیای لوکس بلاگ و وبلاگ جدید خود خوش آمدید.هم اکنون میتوانید از امکانات شگفت انگیز لوکس بلاگ استفاده نمایید و مطالب خود را ارسال نمایید.شما میتوانید قالب و محیط وبلاگ خود را از مدیریت وبلاگ تغییر دهید.با فعالیت در لوکس بلاگ هر روز منتظر مسابقات مختلف و جوایز ویژه باشید.
در صورت نیاز به راهنمایی و پشتیبانی از قسمت مدیریت با ما در ارتباط باشید.برای حفظ زیبابی وبلاگ خود میتوانید این پیام را حذف نمایید.جهت حذف این مطلب وارد مدیریت وب خود شوید و از قسمت ویرایش مطالب قبلی ،مطلبی با عنوان به وبلاگ خود خوش امدید را حذف نمایید.امیدواریم لحظات خوبی را در لوکس بلاگ سپری نمایید...
:: بازدید از این مطلب : 108
عضو شوید
عضویت سریع
آمار مطالب
آمار بازدید
