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3106 News
  • Roncador oil field deal boosts Statoil Brazil production 175%

    Norwegian resources giant Statoil, has confirmed a 25% purchase of the Roncador oil field owned by Petrobas. The deal will almost triple Statoil’s south American output and forms part of Statoil’s long-term strategic planning. read » last month
  • Record US oil output tempers gains a little

    The oil price is higher Friday, as the Forties pipeline closure continues to add to upward pressure on oil stocks. Oil price gains come despite news of rising US oil output. read » last month
  • Forties pipeline repair could take weeks

    The oil price topped $65 per barrel Tuesday, a price not achieved since 2015, on news a major North Sea pipeline would be shutdown for ‘a matter of weeks’. The news exacerbates growing output concerns on geopolitical tensions and pushed the price of Brent Crude and US WI oil higher. read » last month
  • Geopolitical concerns support

    The oil price turned positive in early Monday afternoon trading, reversing an earlier fall. Oil production related news was mixed, with likely rising US production countering geopolitically-output related news elsewhere. read » last month
  • Oil price rise comes despite higher US output

    The oil price is rising again Friday and looks likely to end the week little changed from where it began, despite earlier price falls. Renewed support has come in the form of higher Chinese oil imports data and the threat of a strike by one Nigeria’s main oil worker unions. read » last month
  • US oil inventories fall

    The oil price is edging higher Thursday, as investors shrug off news that US oil production rose last month. Meanwhile, news that oil stocks fell, helped push prices higher. read » last month
  • Investors keep close watch on oil output details

    The oil price fell Tuesday, on news the US’ oil output capacity rose again last week. That news comes just days after OPEC and some non-OPEC members, confirmed their decision to extend the current output cap until the end of 2018 read » last month
  • Investors keep close watch on oil output details

    The oil price fell Tuesday, on news the US’ oil output capacity rose again last week. That news comes just days after OPEC and some non-OPEC members, confirmed their decision to extend the current output cap until the end of 2018 read » last month
  • Review to take place on June 21

    Oil prices rose after OPEC and non-OPEC members Thursday agreed to extend the current output cap, until the end of 2018. The group also stated its intention to meet on June 21, to discuss the situation and make changes to the cap agreement, if required. read » last month
  • Delegates still discussing details

    The oil price is rising Thursday, as reports suggest the output cap extensions has been agreed. No formal announcement has been made by OPEC. read » last month
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