Brent crude futures dropped 38 cents, or 0.5%, at $80.30 per barrel.
oil supply
Posted inExploration & Production
Oil rises on US crude stocks and demand optimism
Oil prices continue their rally this week, on the back of an expected decline in US crude stocks and a coming uptick in global demand
Posted inDRILLING & PRODUCTION
Oil prices flat as trader focus shifts to India and Iran
Oil prices are starting the week largely flat as developments in India and the prospect of returning Iranian supplies balance the market’s enthusiasm for a coming global demand uptick
Posted inDRILLING & PRODUCTION
US will temporarily grant eight countries waivers to continue importing Iranian oil
This comes as the US treads the line between sanctions on Iran and potential oil supply disruptions
Posted inDRILLING & PRODUCTION
New survey: OPEC will augment oil supply in second half of 2018
In a poll conducted with 66 oil industry executives, market traders and analysts, one week ahead of a critical OPEC-non-OPEC meeting in Vienna, 46 of those polled said they expected the world’s biggest oil exporters to raise output in Q3 and Q4 of 2018.
Posted inDRILLING & PRODUCTION
MENA region’s oil supply performance boosts amid tense geopolitical environments, reports APICORP
The report notes the effect of a number of geopolitical issues leading up to the second quarter of 2014, when crude supply began to overtake total demand resulting in an imbalance that reached 1.5 million barrels per day in 2015.