mynameisandhy Posted March 16, 2015 Author Report Share Posted March 16, 2015 Oil Keep Weakens Ignore OPEC Comments Monday, March 16th, 2015 WTI crude oil is not getting out of the 6-year lows remain focused on the high level of oil supplies despite OPEC predicted US oil production will fall at the end of the year. In its monthly report, the Organization of the Petroleum Exporting Countries, or OPEC did not change the level of supply this year, but the decrease of US shale oil production have an impact on the drop in oil prices. The organization also raised the daily global oil demand in 2015 to about 50,000 barrels to 92.3 million barrels. In the Asian session, crude oil has been getting pressure abundance of Iranian oil prospects in the global oil market has been excessive. Late last week, the International Energy Agency does not see the effect of the decline in production in the US helped reduce inventory levels of crude oil. At the beginning of the week, negotiations between the US nuclear program and Iran is nearing the end as well as a potential expiration of sanctions against Iran and unlock the potential influx of Iranian oil exports in high amounts in the oil market. These projections make WTI crude oil fell in early trading week below $ 45. WTI crude oil is now traded down 1.5% at $ 44.14 per barrel range, with daily lows $ 43.56 and $ 44.96 daily highs Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 17, 2015 Author Report Share Posted March 17, 2015 Oil falls to Lowest Level 6 Years Tuesday, March 17th, 2015 US crude oil prices fell to their lowest level in six years on Monday, investor sentiment is still burdened amount of oil supply. Oil prices remained depressed despite the Organization of the Petroleum Exporting Countries forecast a decline in US oil production by the end of this year. Energy Information Administration on Wednesday reported US oil inventories rose 4.5 million barrels in the week ended March 6. Report an increase in the inventory of the EIA also above analysts' estimates by a rise of 4.4 million barrels. Gasoline inventories fell by EIA reported by 200,000 barrels, while distillate fuel rose 2.5 million barrels. Meanwhile Goldman Sachs analysts said the decline in the number of rigs operating little impact on the decline in oil production in the second quarter of this year. Oil on Monday's trading to close at $ 43.79 per barrel, with daily highs $ 45.00, and the lowest $ 42.85 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 18, 2015 Author Report Share Posted March 18, 2015 WTI Oil Down To Lowest Level Since March 2009 Wednesday, March 18th, 2015 Crude oil prices fell on Tuesday as expectations of rising US oil inventories in the 10 weeks in a row, but the weakening of the dollar keep the oil from further deterioration. Traders and investors surveyed by Reuters expect the US oil supply will rise more than 452 million barrels last week. Dollar-denominated oil slightly weaker US currency helped the oil price becomes cheaper for holders of other currencies, so as to limit the decline. Estimated dollar toward parity against the euro on Tuesday, down about half a percent against the currencies of 19 countries. Meanwhile, the American Petroleum Institute after the US trading session closed reported US oil inventories in the week ended March 13 rose to 10.5 million barrels. Analysts surveyed by Platts had forecast a rise of 3.7 million barrels. Inventories rose 583,000 barrels besnis reported, while distilling oil inventories fell 252,000 barrels. Oil on Tuesday closed at $ 42.43 per barrel, with daily highs $ 44.20, and the lowest was $ 42.41. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 19, 2015 Author Report Share Posted March 19, 2015 Worsening Oil prices, Influenced By Sentiment oversupply Thursday, March 19th, 2015 Oil prices continue to sink in the Asian trading session on Thursday, strengthening restore the previous session, as the oil market back alarmed over rising US oil supply back up to record highs touched. On the New York Mercantile Exchange, light sweet crude April contract traded the range of $ 43.49 a barrel, down by $ 1.20, or 2.7% in electronic trading. Meanwhile, the oil price contract may run the range of $ 45.64 a barrel at 13:47 pm. The price of oil has risen in the previous trading session, the WTI contract to stop the decline for six consecutive sessions after the Federal Reserve said that they were not in a hurry to Raise interest rates. But the abundance of oil reserves have returned weighed on oil prices. Overall, US oil inventories rose more than expected, rose by 9.6 million barrels to 458.5 million barrels last week, EIA said yesterday. In oil refinery hub Cushing, Oklahoma, reserves rose as much as 2.9 million barrels, approaching full capacity even though it has not stop here. Analysts at Societe Generale said that the rate of increase of oil reserves in Cushing and the US as a whole should be waning in April and May. He added that overall, the current spare capacity is only 63% of its capacity, with room for 192 million barrels tersisia, there are still many remaining space than we thought before. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 20, 2015 Author Report Share Posted March 20, 2015 Dollar Turned Stronger , Oil Back Pressed Friday, March 20th, 2015 After the rally on Wednesday, oil retreated on Thursday as a result of the dollar rebounds and Kuwait that stated OPEC has no other choice but to maintain production despite market has excess supply. Oil trade on Wednesday managed to rise from the lowest level six years after the dollar slumped to respond to the Federal Reserve's dovish statement. However, the dollar return trade show of force on Thursday. The strengthening of the dollar could dent demand from consumers holders of other currencies. Of Kuwait's Oil Minister Ali Omair said OPEC will maintain production number, although he also expressed concern over oil prices have dropped 50% since last summer. Although many oil companies reduce exploration budget and number of rigs operating in the US is at its lowest level in four years, but the US shale oil output is only slightly reduced. US oil inventories reported by the Energy Information Administration rose as much as 9.6 million barrels to 459.5 million barrels in the week ended March 13. Oil on Thursday to close at $ 43.85 per barrel, with daily highs $ 44.71, and the lowest $ 42.75 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 23, 2015 Author Report Share Posted March 23, 2015 Raise Oil Prices Not OPEC Single Responsibility Monday, March 23, 2015 OPEC reiterated its position to not want to burden the responsibility to raise global oil prices. In November last year, the dominant member of the Organization of the Petroleum Exporting Countries (OPEC), Saudi Arabia, persuade other OPEC members to maintain production for the sake of market share. The decision was made the price of crude oil dropped from highs last year and is still difficult to recover as high inventory levels. However, Finance Minister of Saudi Arabia, Ali al-Naimi, said on Sunday they plan has not been successful. Countries of non-OPEC continued to press OPEC to carry the burden of maintaining price stability. Al-Naimi explained, with OPEC production that "only" 30% in the market should not alone bear the burden to raise prices. In an interview with reporters on the sidelines of an energy conference in Riyadh, al-Naimi also confirmed no country plans to increase production to more than 12.5 million barrels per day. The kingdom's oil production is in the range of 10 million barrels per day and is still allowed to be raised if there is demand Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 24, 2015 Author Report Share Posted March 24, 2015 Weakening Dollar Lift Oil Tuesday, March 24th, 2015 The weakening dollar on Monday could lift oil prices, but gains limited after Saudi Arabia gives an indication of the amount of crude oil production will not change. Dollar-denominated oil cheaper for holders of other eye if the dollar weakened. Projections of Federal Reserve interest rate still mebebani movement of the dollar at the beginning of the week. Index of the dollar against the currencies uatama back down about 0.85% on Monday, after last Friday dropped around 1.6%. Wall Street Journal reported the Saudi Arabian Oil Minister Ali al-Naimi, on Sunday said he would allow the market to determine the price of oil, and will not reduce production unless state melakukannnya non-OPEC producers. In the conference in Riyadh, Naimi added OPEC's decision to maintain its market share will fail if you have to cut crude oil production. Saudi Arabia is said to produce 10 million barrels of crude oil per day, which will be the largest number of production since July. Oil on Monday to close at $ 47.49 per barrel, with daily highs and lows $ 47.61 $ 45.33 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 25, 2015 Author Report Share Posted March 25, 2015 Improved Stock Return Pressing Crude Oil Wednesday, March 25th, 2015 WTI Crude Oil slumped following the confirmation of the increase in crude oil stocks during the last week as reported by the Energy Information Administration (EIA) on Wednesday (25/3). Prior to the data released WTI crude oil prices stay above $ 48 a barrel enjoy a weakening dollar makes dollar-denominated assets such as oil and gold US becomes cheaper for investors holding currencies other than the dollar. US crude oil stocks for the week ended March 20 rose 8.2 million barrels, higher than the expected increase of 5.1 million barrels. The level of crude oil inventories in the US last in the 80-year highs for 11 consecutive weeks. Crude stocks at the delivery center Cushing, Oklahoma, rose 1.91 million barrels, recorded a new record high. Previously, the oil industry associations and the largest US natural gas, the American Petroleum Institute (API) reported an increase in US crude stocks of 4.8 million barrels in the last week. Now crude oil traded at $ 47.80 per barrel, with daily highs $ 48.34 and $ 46.98 daily lows Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 26, 2015 Author Report Share Posted March 26, 2015 Oil Skyrocketing Following the tensions in the Middle East Thursday, March 26th, 2015 Crude oil prices jumped about 5% in early European trading on Thursday (26/3) on news Saudi Arabian forces attack in Yemen raises fears of supply disruptions from the Middle East region. Dollar exchange rate continued to weaken added factor strengthening crude oil prices. WTI crude oil prices hit an intraday high $ 52.45 a barrel from $ 51 a barrel range by the end of the Asian session. Crude oil prices rocketed more than three dollars on Thursday after Saudi Arabia and some allies in the Gulf area launched air strikes in Yemen to reply rebels besieged southern city of Aden. News of Saudi Arabia to the attention of investors in view of the country's crude oil to save 16% of world oil reserves and the Middle East countries meet nearly 35% of global crude oil production. Investors worried about the appearance of conflict in the Middle East area can make oil prices skyrocket. Crude oil prices at 15:55 pm was at $ 51.29 a barrel, the lowest level away from the daily $ 48.71 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 27, 2015 Author Report Share Posted March 27, 2015 Oil Up Five Days streak Friday, March 27th, 2015 WTI crude oil rose five consecutive session on Thursday and touched its highest level since March 4 after Saudi Arabia and its allies launched air strikes to Yemen, triggering concern the escalation of war and disrupt crude supplies. Yemen is not a major producer of crude oil, but the oil shipping lanes Saudi Arabia Yemen beach passes through the Gulf of Aden to the Suez Canal, which is a key oil shipments to Europe. Military operations against the Houthi rebels in Yemen not affect oil facilities in the region. But the fear of the spread of the conflict sparked concerns about the security of oil shipments from the Middle East, although analysts doubt the possibility of a large-scale war. Oil on Thursday to close at $ 51.00 per barrel, with daily highs $ 52.48, and the lowest $ 48.73 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 30, 2015 Author Report Share Posted March 30, 2015 Oil Weakens, But Record Strengthening Weekly Monday, March 30th, 2015 Crude oil fell down on Friday, noting the first decline in six days. Oil prices rose sharply in the previous two days due to the turmoil in Yemen at risk of oil transportation lines in the region. Although weakened, oil remains recorded reinforcement in two consecutive weeks. Saudi Arabia and its allies continue to attack the Houthi rebels in Yemen on Friday. Yemeni Foreign Minister, Riyadh Yaseen, said military operations will likely end up in the next few days, and he does not expect will last a long time. Meanwhile the company Baker Hughes reported that the number of rigs operating in the US back down by 12 this week, be 813. The decline is much lower than the previous two weeks were recorded a decrease of 41 and 56 units, giving the signal stabilizes oil drilling activity. Decrease the number of rigs in operation has occurred in the 16th straight week, which is a record for the longest, and the number of rigs in operation today is at its lowest level in 2011 sehak. Oil on Friday's trading to close at $ 48.43 a barrel, the highest level of $ 51.38, and the lowest $ 48.21 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted March 31, 2015 Author Report Share Posted March 31, 2015 Oil Down Related Optimism abundance of World Oil Supply Tuesday, March 31, 2015 US crude oil futures came under pressure on Tuesday as optimism of market participants on the outcome of negotiations between Iran and the international parties to remove the embargo and allow the export of Iranian oil back online. World oil supplies are abundant become negative catalyst for oil because the rate of demand is still below the number of supply. So far the price of US crude oil futures fell -1.44% to $ 47.97 per barrel, after reaching the highest point at $ 48.73 intraday and daily lows at $ 47.80 per barrel. With the deadline less than 24 hours, the United States, Britain, France, Germany, Russia and China are trying to reach a negotiated settlement to stop Iran has the capacity to build a nuclear bomb, in return for removing the international embargo. Iran has built up a large stock of oil reserves since the embargoed, so it can quickly raise the export if the embargo be removed. Various sources estimate Iran has a reserve stock of at least 30 million barrels of oil in its tankers. In addition, Iran could increase oil production up 500000-700000 barrels per day in the next 6 months if the embargo was removed Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 1, 2015 Author Report Share Posted April 1, 2015 OPEC Oil Production Reach Record High Since October Wednesday, April 1st, 2015 Organization of the Petroleum Exporting Countries (OPEC) is consistent in his message to maintain production levels, proven through a number of OPEC oil inventories jumped in March to its highest level since October. Iraqi exports are recovering from the effects of bad weather and Saudi Arabia are pumping oil near the highest level helps businesses OPEC maintain production activities in order to maintain its market share. Based on data collected by Reuters, OPEC oil supply rose in March to 30.63 million barrels per day from the previous report was revised to 30.07 million barrels per day in February. OPEC oil production adding excess global oil supplies, even though there is a sign of increased demand as oil prices have dropped more than 50% of the price of mid last year. Saudi Arabia led 11 other OPEC members to maintain a production target of 30 million barrels per day. OPEC will hold the next meeting in June and comments from officials signaled OPEC will not change his mind. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 2, 2015 Author Report Share Posted April 2, 2015 Oil Rally Supported Slowing US Production Thursday, April 2nd, 2015 Crude oil rallied after an increase in US crude inventories last week reported lower than expected and the Iranian nuclear negotiations that continued past the deadline. WTI crude oil for delivery in May shot nearly 6% shortly after the Energy Information Administration (EIA) reported that US crude oil inventories increased 4.8 million barrels during last week. This report is lower than the increase of 5.2 million barrels to research the American Petroleum Institute (API) which was released before the EIA data. Expectations for a decline in oil production push rally on Wednesday, although analysts warned the oil market is still haunted by oversupply, so that the oil outlook remains bearish. Iran and six world powers resume talks in Lausanne, Switzerland. Negotiations with the target formulate a preliminary agreement for Iran's nuclear program as well as to lift sanctions on Iranian oil exports failed to be completed before the deadline Tuesday. The fall in the dollar exchange rate also sustains oil rally. Employment data and disappointing US manufacturing Fed will lower the chances of a hurry to raise interest rates, so the trade press Dollar. WTI crude oil futures ended at the level of $ 49.55 per barrel, with daily highs and lows $ 50.45 $ 47.05 daily. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 3, 2015 Author Report Share Posted April 3, 2015 Oil Prices Back Weakens Friday, April 3rd, 2015 Oil prices fell on Thursday, down from big gains in the previous session, on the prospects for an agreement in nuclear talks with Iran and the possibility of increased oil exports that helped put pressure on prices. Major countries and Iran have held talks on Tehran's nuclear program for the second day after the expiry of the deadline at the end of March, the diplomats said that there is the possibility of a deal is still balanced between success and failure. Brent oil and WTI stop attenuation for a three-day losing streak on Wednesday, rose about $ 2 or more after the data from the Energy Information Administration (EIA) showed a decrease in drilling rigs for oil is causing the drop in output of the United States last week for the first time since the end of December . US oil price contract in May fell by 20 cents at $ 49.86 a barrel, after closing up $ 2.49, or 5.2%. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 6, 2015 Author Report Share Posted April 6, 2015 Oil Soar Due Selling Price Increase Saudi Arabia Monday, April 6th, 2015 Oil jumped after Saudi Arabia raised the selling price of crude oil to Asia for 2 consecutive months indicate improvement in demand from the region. So far the price of US crude oil futures rose 3:40% to $ 50.80 per barrel, after reaching the highest point at $ 50.90 intraday and daily lows at $ 49.47 per barrel. While Brent crude oil for May contract soared to a high $ 56.19 a barrel. Despite Iranian oil embargo, but China's oil imports from OPEC producers still show an increase since August. While Saudi Arabia while maintaining production levels unchanged, but since April and May has raised prices to Asia. From the supply side, the amount of shale oil drilling site in the US has dropped 11 wells to 802 wells Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 7, 2015 Author Report Share Posted April 7, 2015 Increase Optimism Over Corrected Oil Supply Tuesday, April 7th, 2015 Oil fell slightly after rocketing sharply with the increasing demand in the US and Asia, at the same time Saudi Arabia raise the price of oil to Asian buyers. So far the price of US crude oil futures fell -0.79% to $ 51.73 per barrel, after reaching the highest point at $ 51.99 intraday and daily lows at $ 51.68 per barrel. Another factor that triggered the oil correction is rebounding US dollar caused by the soaring US bond yields on 10-year tenor of its lowest point in the last 2 months and managed to get back to the level of the yield before released nonfarm payrolls data. The improving sentiment on the dollar also supported by the US unemployment rate stable at the level of 5.5% despite a decline in growth in nonfarm payrolls last month's figures. In addition there is a surge of optimism Iranian oil supplies after the deal early stage to reduce the embargo on Iranian oil exports. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 8, 2015 Author Report Share Posted April 8, 2015 EIA report Stopping Oil Prices Rebound Wednesday, April 8th, 2015 Crude oil prices fell sharply reversed in trading Wednesday after the US Energy Information Administration reported a jump in US crude inventories last week. EIA said US crude oil inventories increased by 10.9 million barrels to 482.4 million barrels in the week ended April 2nd, as domestic oil output rose 18,000 barrels per day. The increase in inventories in 12 consecutive weeks that delivers the US domestic oil stocks to their highest level for at least 80 years. Analysts had forecast US oil stocks will rise 3.4 million barrels. Currently berjangkan crude oil for May delivery contracts offered in the range of $ 51.80 per barrel, or about 4.1% below yesterday's closing price Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 9, 2015 Author Report Share Posted April 9, 2015 US Crude Oil Supply The Abundant Thursday, April 9th, 2015 Crude supplies increased by almost as much as 11 million barrels last week, the sharpest rise in 14 years, as a sharp rise in the level of imports, while gasoline supplies rose unexpectedly, according to government data Wednesday. Supply of crude oil rose as much as 10.95 million barrels last week to 482.4 million barrels, a record high for 13 consecutive weeks, according to data from the Energy Information Administration (EIA). Analysts expect an increase of 3.4 million barrels. Oil supplies at Cushing, Oklahoma, rose as much as 1.2 million barrels, also more Dair expectations. US crude oil imports rose as much as 869 000 barrels per day to 7.7 million barrels per day. According to Tariq Zahir, a manager at Tyche Capital Advisors in Laurel Hollow, New York, the figure is the most bearish of some of this time, it is very surprising, even for someone who is bearish as himself. The level of oil production rose as much as 201 000 barrels per day to 15.9 million barrels per day, according to EIA data, still in high record. Refinery utilization rate rose as much as 0.7% to 90.1% of total capacity. Gasoline supplies rose as much as 817 000 barrels, compared with analyst expectations for a decline of 1.0 million barrels. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 10, 2015 Author Report Share Posted April 10, 2015 Moving Oil Stable Asian session, the WTI Surviving at the Top Level $ 50 Friday, April 10th, 2015 Crude oil prices are steady in Asian trading session on Friday after volatility reached the highest level in a week, with oil prices moved above $ 50 per barrel. On the New York Mercantile Exchange, light sweet crude for May contract traded the range of $ 50.75 a barrel, down by $ 0.04 in the electronic session. Meanwhile Brent in London rose by $ .015 be $ 57.84 per barrel. Oil prices have risen in three of the last four trading sessions, with investors still closely monitor the level of oil production OPEC and the US, turmoil in the Middle East and Iran's nuclear deal. On Thursday, Iran's supreme leader, Ayatollah Ali Khamenei said that the US and the partner that we should negotiate with the repeal of all sanctions on the country immediately after the end of the agreement reached. His comments gave a bullish on Brent oil prices as they introduce additional political obstacles to complete the nuclear deal in June, the agreement has the potential to add 800,000 barrels per day of Iranian crude oil to the global market which is now abundant pasoaknnya, said analyst Tim Evans at Citi Futures . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 13, 2015 Author Report Share Posted April 13, 2015 Oil Crawling Up In Asian Session Monday, April 13th, 2015 Oil prices climbed in Asian trading session on Monday following a slick performance on Friday, as traders add their bullish positions on oil in a slowing rate of US oil drilling. Large investors predict that the price of oil has hit bottom, according to US government data. Financial managers and other large speculators on the price of oil futures and options add to their long positions as much as 52 million barrels in the week ended April 7, according to data from the US Commodity Futures Trading Commission. This figure is the biggest weekly gain since 2011, according to CFTC data. ANZ said that speculators in the market seems to predict a decline in oil prices has ended. While saying that oil prices probably will not go down much deeper, ANZ also said that the possibility of oil prices will not rally. According to ANZ, although there are tentative signs of an increase in the level of demand and the number of rigs fell to the lowest level since 2010, surplus oil in the global markets triggered by the increase in US oil supplies and the output of Saudi Arabia which rose to a record high will limit the potential rally. On the demand side, the level of Japan's machinery orders fell for a second month in February, signaling a weak level of business investment that can hinders the government's attempt to escape from the economic problems for decades. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 14, 2015 Author Report Share Posted April 14, 2015 Oil Stable In Positive Territory Tuesday, April 14th, 2015 US crude oil futures tend to be higher on Tuesday amid expectations of declining stocks of US shale oil reserves for the first time in the last 4 years, but analysts warned the global oil supply is excessive as the increase in the rate of Chinese exports. EIA estimates that US oil shale production fell 45,000 barrels to 4.98 million barrels per day in May from April, indicating a decrease in the shale oil output was booming, but the middle of the fall in world oil prices since June slowdown the pace of shale oil production. Although the Middle East political instability also helped boost oil prices, but the high rate of global oil production and the strengthening of the stock price has limited the increase in oil. Supply of oil from the Middle East, such as Saudi Arabia and Iraq is still rising. While in Asia, China reportedly exported 750,000 tons of crude oil in March, the largest export volume since 2006, indicating that the Chinese began to shortage of oil storage capacity Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 15, 2015 Author Report Share Posted April 15, 2015 IEA Estimate Global Oil Demand Increases Wednesday, April 15th, 2015 Oil demand will rise this year more than previous estimates, according to estimates from the International Energy Agency (IEA), which was released Wednesday. Expectations of the IEA to rise sharply in the level of oil demand in 2015 occurred after Iran proposes member countries Organization of Petroleum Exporting Countries (OPEC) to cut production. The price of oil is currently trading at about half the price in June last year, making the oil-producing countries and companies is difficult to profit. Despite the decline in prices, some manufacturers continue to increase the number of supply, with Saudi Arabia, the largest exporter in OPEC, confident that the price reduction will make US shale oil production types are more expensive to less economical. However, a number of small oil producing countries in the Middle East also feel the impact of falling oil prices. Iranian Oil Minister Bijan Zanganeh memangks menguruslkan that OPEC production quota levels at least as much as 5% on Tuesday, according to local oil ministry's website. This happens after world powers agreed on a framework agreement with Iran over its nuclear program, triggering anxiety increased excess supply in the oil market if Iran sanctions lifted. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 16, 2015 Author Report Share Posted April 16, 2015 Brent Crude Oil Touch Highest Level in 2015 Thursday, April 16th, 2015 Brent Crude Oil soared to its highest level in 2015 above $ 63 per barrel on Thursday, after the previous day had rallied more than 5 percent. While US oil futures also jumped to a $ 56.69, the highest level in 2015, before finally fell down. Oil rally of more than 5 per cent trigger transition investor sentiment became bullish on oil prices. Moreover, at the same time there are reports of US oil production decline significantly, where the level of oil production in the US for an average of four weeks turned negative for the first time since July 2014. Institutions own EIA estimates strengthening world oil market prices are still less likely due to the amount of OPEC oil supply is still high, even potentially increased sharply after Iran embargo removed, but on the one hand the rate of world oil demand began to improve. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted April 17, 2015 Author Report Share Posted April 17, 2015 OPEC Output Up, Oil Prices Down Friday, April 17th, 2015 Oil prices moved down at the beginning of the session on Friday, ending the rally this week, after OPEC said that its output soared in March, adding an excess of global oil supply. Organization of the Petroleum Exporting Countries (OPEC) said that the level of oil production in March rose as much as 810,000 barrels per day (bpd), be 30.79 million barrels per day which is equal to one-third of global supply. Thanks to the decline in output from the United States and other manufacturers due to the decline in oil prices since June last year, OPEC said demand for oil this year will be higher than previously estimated. Jamie Webster, analysts and experts at IHS OPEC in Washington, said the OPEC strategy to suppress the high-cost producer is quite effective, but OEPC member states seems to have lost focus and produce as much oil as they can. Reports from OPEC will probably reinforce the perception that the major oil producing countries are risking part of the market ahead of a potential increase in the export of Iranian oil after the framework agreement with the country's nuclear program. Quote Link to comment Share on other sites More sharing options...
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