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Tag Archives: Brent crude oil

OPEC sees oil prices returning to $80/barrel by 2020

OPEC forecasters expect oil prices will rise by no more than $5 a barrel a year to reach $80 by 2020, with a slowing in rival non-OPEC production growth not enough to absorb the current oil glut, according to OPEC sources. The sources said the figures came from an updated mid-term strategy report discussed this week by representatives from the ...

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Oil prices dip, stock market rally stems losses

LONDON – Crude oil prices slipped on Wednesday amid a persistent oversupply of physical oil, but stock market gains globally helped to stem the losses. European shares rose in early trade, buoyed by an 8 percent jump in Japanese stocks and the prospect of more stimulus from Chinam soothing investors rattled by recent market turmoil. Yet concerns remained over the ...

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U.S. crude oil steadies from six-and-a-half-year low

LONDON – U.S. crude oil steadied on Friday after falling to its lowest in almost 6-1/2 years as huge stockpiles and refinery shutdowns heightened concerns about global oversupply. Oil had already tumbled more than 3 percent on Thursday, driven by a report that stocks at Cushing, Oklahoma, the delivery point for U.S. crude futures, rose more than 1.3 million barrels ...

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Caught in the cross-fire – non-OPEC, non-shale producers: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – The biggest losers from the current price war between OPEC and the shale producers seem set to be producers outside the Middle East and North America caught in the cross-fire. Expensive production from the North Sea, Canada’s oil sands, offshore megaprojects, weaker African and Latin ...

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