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Oil prices dip over signs of rising supply category
Nov. 1, 2018
Source: Reuters

Oil prices dip over signs of rising supply

Oil prices in the international market dropped today over signs of increasing supply and rising concerns of weak demand due to global economic slowdown. Benchmark Brent crude futures contract fell 0.61%, and were traded at $74.58 per barrel. US WTI crude futures dipped to $64.90 a barrel. Data releases by EIA yesterday showed a climb in crude oil inventories for a sixth straight week.

Oil prices drop again category
Aug. 17, 2018
Source: Reuters

Oil prices drop again

Concerns over slower global economic growth sent oil prices down for another time this week. Brent crude oil futures LCOc1 were down at $71.38 per barrel. U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped to $65.42 a barrel. Data released on Wednesday showed crude oil output rose by 100,000 barrels per day to 10.9 million bpd in the week ending Aug 10.

Oil prices edge up category
Aug. 2, 2018
Source: Reuters

Oil prices edge up

Oil Prices edged up today after the last couple of days saw a decline in the crude costs. Brent crude futures LCOc1 rose by 0.4%, at $72.64 a barrel. West Texas Intermediate (WTI) crude CLc1 futures climbed 0.4%, to $67.92 a barrel. Energy Information Administration (EIA) reported U.S. crude inventories for the last week at 3.8 million barrels capacity, owing to a surge in import.

Surge in US stockpiles category
July 24, 2018
Source: Platts

Surge in US stockpiles

As the focus of investors shifted towards oversupply concerns, crude oil futures declined during mid-morning trade in Asia. Economists are raising concerns about oversupply risk stating that geopolitical risks are traditionally short-lived. Data from EIA shows a hike of 5.84 million-barrel in US crude stocks. Investors are worried that this increase in stockpiles might become a trend and so they are looking for fresh data from EIA this week.

Permian Basin to become world’s largest oil patch category
April 25, 2018
Source: World Oil

Permian Basin to become world’s largest oil patch

The Permian shale play is all set to become the world’s largest oil patch over the next decade. According to the Energy Information Administration, output in the basin is forecast to reach 3.18 MMbpd in May.The oil reserve size with enhanced technology and efficiency are fueling the rampant growth.

US LNG exports increased fourfold in 2017 category
March 28, 2018
Source: World Oil

US LNG exports increased fourfold in 2017

According to the U.S. Energy Information Administration (EIA) report, the exports of U.S. liquefied natural gas (LNG) increased from 0.5 Bcfd in 2016 to 1.94Bcfd in 2017. Shipments went to more destinations with an expansion in LNG exports. All LNG exports from US in 2017 originated from Louisiana’s Sabine Pass liquefaction terminal and reached almost 25 nations with 53% shipped to three countries- Mexico, South Korea and China.

EIA-US Shale output might hit a new record category
March 14, 2018
Source: Energy World

EIA-US Shale output might hit a new record

The U.S. Energy Information Administration (EIA) has recently said in a monthly productivity report that U.S. shale production is expected to rise to a record high 6.95 million bpd in April. The report highlights that the expected increase is majorly driven by production gains in oil in the Permian and Eagle Ford formations. However, enhanced crude supply in the US is seen as a potential threat to global supply balance.

Reuters-Brent crude prices plummeted category
March 1, 2018

Reuters-Brent crude prices plummeted

As reported by Reuters, Brent crude prices slipped back consecutively for a second day owing to weak economic figures from China and growing U.S. oil inventories. Traders across the globe expressed their concern regarding an international economic slowdown as China reported that factory growth has sunk to its lowest rate since 2016.

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