Bloomberg:
"Bloomberg Markets AM with Pimm Fox and Lisa Abramowicz.
GUEST: Robin Mills, CEO of Qamar Energy and contributor to Bloomberg View, on Qatar’s deepening relationship with Iran on natural gas.
Running time 05:53"
'via Blog this'
Friday, 21 July 2017
Oil nudges higher; Brent crude below $50 ahead of OPEC meeting
Oil nudges higher; Brent crude below $50 ahead of OPEC meeting:
"Oil prices edged up on Friday ahead of a key meeting of major oil producing nations next week, but Brent held below the $50 per barrel level that was briefly breached for the first time in six weeks in the previous session.
International benchmark Brent crude futures were up 10 cents, or 0.2 percent, at $49.40 per barrel at 0658 GMT.
U.S. West Texas Intermediate (WTI) crude futures were up 7 cents, or 0.2 percent at $46.99 per barrel."
'via Blog this'
"Oil prices edged up on Friday ahead of a key meeting of major oil producing nations next week, but Brent held below the $50 per barrel level that was briefly breached for the first time in six weeks in the previous session.
International benchmark Brent crude futures were up 10 cents, or 0.2 percent, at $49.40 per barrel at 0658 GMT.
U.S. West Texas Intermediate (WTI) crude futures were up 7 cents, or 0.2 percent at $46.99 per barrel."
'via Blog this'
OPEC, Russia to Stand Pat on Oil Deal Even as Glut Persists - Bloomberg
OPEC, Russia to Stand Pat on Oil Deal Even as Glut Persists - Bloomberg:
"OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend. Oil has slumped into a bear market and inventories remain stubbornly high despite a deal between OPEC and 10 countries outside the group to cut output. The implementation of supply curbs is faltering as Libya and Nigeria restore lost production. The trouble for ministers meeting in St. Petersburg to review the progress of the deal is the alternatives look little better than the status quo. If the Organization of Petroleum Exporting Countries abandons the deal and increases oil output, a further plunge in prices would inflict more pain on their economies. And while deepening the production cuts would spark a rally, that might encourage even bigger flows from U.S. shale drillers."
'via Blog this'
"OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend. Oil has slumped into a bear market and inventories remain stubbornly high despite a deal between OPEC and 10 countries outside the group to cut output. The implementation of supply curbs is faltering as Libya and Nigeria restore lost production. The trouble for ministers meeting in St. Petersburg to review the progress of the deal is the alternatives look little better than the status quo. If the Organization of Petroleum Exporting Countries abandons the deal and increases oil output, a further plunge in prices would inflict more pain on their economies. And while deepening the production cuts would spark a rally, that might encourage even bigger flows from U.S. shale drillers."
'via Blog this'
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