Latest News for: Crude oil production

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Oil Price Fundamental Weekly Forecast – Traders Eyeing US Supply Volatility, COVID-Related Demand Concerns

FX Empire 08 Mar 2021
West Texas Intermediate and international-benchmark Brent crude oil jumped higher following the decision by OPEC+, not to increase oil output, except to Russia and Kazakhstan ... Last week, May WTI crude oil settled at $65.92, up $4.69 or +7.66% and May Brent crude oil finished at $69.36, up $4.94 or +7.12%.
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Saudi oil facilities targeted in missile and drone attack

South China Morning Post 08 Mar 2021
... drone and missile attacks on Sunday were intercepted and crude production appeared to be unaffected.
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Asia shares mostly lower on selling of tech stocks

Times Union 08 Mar 2021
Oil prices pressed higher, with Brent crude surpassing $70 per barrel after OPEC chose not to lift production cuts. Oil prices surged late last week after Yemen rebels claimed they had attacked a Saudi oil facility ... Rising oil prices are a part of that picture ... oil and prices climbed above $60 a barrel.
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Mining stocks and Sasol leap on commodity prices

Independent online (SA) 08 Mar 2021
Petrochemicals giant Sasol hit R223.93 closing the day up 13.95 percent propelled by the strong oil price tailwind following the decision by the world’s biggest producers to extend production cuts given that the demand recovery from the coronavirus pandemic was still fragile.
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Yemen's Houthi launch missile, drone attack on Aramco's oil facilities

The News International 08 Mar 2021
The kingdom's oil-rich eastern region is home to most of Aramco's production and export facilities. In 2019, aerial assaults on two Aramco facilities in the eastern region temporarily knocked out half of the kingdom's crude production, underscoring the vulnerability of Saudi Arabia's oil infrastructure.
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As debate rages over cross-border pipelines, U.S. analysts brace for more oil by rail

Moosejaw Today 07 Mar 2021
On average, more than a million barrels of crude oil travel through Washington state each week, most of it from North Dakota but about 13 per cent from Alberta and Saskatchewan, according to the state's Department of Ecology ... In 2019, the report said, 73 per cent of the tank car fleet carrying crude oil in the U.S.
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U.S. analysts brace for more cross-border oil by rail (Business)

Castanet 07 Mar 2021
On average, more than a million barrels of crude oil travel through Washington state each week, most of it from North Dakota but about 13 per cent from Alberta and Saskatchewan, according to the state's Department of Ecology ... In 2019, the report said, 73 per cent of the tank car fleet carrying crude oil in the U.S.
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Saudi Aramco to benefit from oil price and demand recovery

Gulf News 07 Mar 2021
Oil last week crossed $65/bbl as market tightened ... Saudi Arabia, the world’s largest crude exporter, is benefiting as oil rebounds from last year’s slump amid OPEC+ production limits and signs of a global economic recovery ... Declining oil prices in 2020 led to an industry wide capex and production collapse.
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6 ways to save money at the pump

Albany Democrat Herald 07 Mar 2021
Petroleum, also known as crude oil, was found in underground reservoirs and used to make gasoline, and therefore the global price of crude oil began to directly impact the cost of gas ... It would eventually rise again, and in May 2019, the United States hit a crude oil production average of more than 12 million barrels per day.
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Foreign trade rises 32.2% in first 2 months

China Daily 07 Mar 2021
The country also helped boost imports of industrial products and raw materials such as auto parts, iron ore and crude oil, Gao added.
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Markets may face some hurdles in near term

Deccan Herald 07 Mar 2021
Indian equity markets snapped its two week loss amidst high volatility. Nifty/Sensex gained +2.8%/+2.7% to close at 14,938/50,405 ... On the other hand, Metals, Private Banks and Financials gained 1-2% ... Sentiments also got impacted as crude oil prices hit its one year high, after OPEC and its allies agreed to keep production unchanged in April ... BSE. NSE.
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Spring crop prices set for crop insurance

Enid News & Eagle 07 Mar 2021
After OPEC decided to leave production unchanged versus expectations of an increase, crude oil prices surged late week to close above $66 for the first time since April 2019 on a continuation chart ... The FAO this week forecast record wheat production in 2021 ... Tuesday marks the release of the next monthly USDA WASDE and Crop Production reports.
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