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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Rising oil prices despite expectations of abundant supplies

    Rocky
    Rocky
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    Posts : 270867
    Join date : 2012-12-21

     Rising oil prices despite expectations of abundant supplies Empty Rising oil prices despite expectations of abundant supplies

    Post by Rocky Mon 18 Dec 2017, 2:40 am

    [size=30]Rising oil prices despite expectations of abundant supplies[/size]
    18/12/2017 10:50 | Number of readings:
    font size:  Rising oil prices despite expectations of abundant supplies Font_decrease  Rising oil prices despite expectations of abundant supplies Font_enlarge
     Rising oil prices despite expectations of abundant supplies Thumbnail.php?file=download_904960845
    [rtl]Trend Press / Continue[/rtl]
    [rtl]Oil prices rose on Monday as pipeline cuts continue to move North Sea oil and signals that the US oil production boom might slow down even though expectations for 2018 suggest ample supplies even in OPEC-led production cuts.[/rtl]
    [rtl]By 0634 GMT, US WTI crude futures were $ 57.66 a barrel, up 36 cents, or 0.6 percent above the previous settlement price..[/rtl]
    [rtl]Brent crude futures rose to $ 63.59 a barrel, up 36 cents, or 0.6 percent, from the previous settlement price..[/rtl]
    [rtl]Traders say the slight rise in prices was due to the failure of the Fortis pipeline, which carries oil from the North Sea, which provides oil that supports Brent crude, as well as signs that US crude production growth may slow..[/rtl]
    [rtl]Enious, the operator of the Fortis pipeline, declared a state of force majeure in all oil and gas shipments via the Fortis pipeline last week.[/rtl]
    [rtl]In the United States, energy companies cut the number of oil drilling platforms operating for the first time in six weeks to 747 drilling platforms in the week ending Dec. 15, according to Baker Hughes Energy Services, Friday.[/rtl]
    [rtl]US production is also undermining the efforts of the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia and a group of non-OPEC producers, including Russia, to curb production in order to narrow the gap between supply and demand in the market and support prices..[/rtl]
    [rtl]The International Energy Agency (IEA) said world oil markets would post a slight supply surplus of 200,000 barrels per day (bpd) in the first half of 2018, mainly due to the rise in oil production in the United States.[/rtl]




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