about us | newsletter | contact | archive | members area
Christian Traunfellner, Immofinanz
There is an increasing need for high-quality office properties»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Oil prices rise on strong demand and uncertainty over Syria conflict

Oil prices rose on Monday, supported by strong demand and uncertainty over the conflict in Syria, although another run-up in U.S. drilling activity kept a lid on gains, Reuters news reads.

2017-04-10 09:54:54

U.S. bank Goldman Sachs said after the rig data release that year-on-year U.S. oil production ′would rise by 215,000 barrels per day in 2017′ once a backlog of production waiting to be brought back online was considered, according to the same source.

The soaring U.S. output contrasts with a supply cut led by the Organization of the Petroleum Exporting Countries (OPEC), which hopes to prop up prices by reducing supplies in the first half of 2017 - and maybe beyond.

"Reduced OPEC volumes and stronger U.S. output will result in a deeper discount for U.S. crude and support greater exports from the U.S. to Asia over the coming months," BMI Research said. It added, though, that in terms of overall volumes, "the U.S. will remain a small player in Asia as OPEC actively protects its market share."

Beyond the United States, other producers are also benefiting from OPEC′s supply cuts and tighter market. Brazil′s oil exports have soared 65 percent since February 2016, to a record of more than 1.46 million bpd, according to government data obtained by Reuters.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  4530 Views
Daily Info
Bucharest wants to expand its Old Town

Bucharest's Old Town, the city's historic district, will expand to include 50 other streets in the city center, Bucharest mayor Gabriela Firea. The Old Town will also include ...

American auto parts producer closes factory in Northern Romania

US auto parts producer TRW Automotive will close its wheel factory in Baia Mare, Nothern Romania.

Telekom Romania launches first loans in partnership with Alior Bank

Telekom Romania, one of the biggest local telecom groups, has launched its first two loans in partnership with Polish lender Alior Bank.

Fondul Proprietatea exits Conpet

Fondul Proprietatea, the fund managed by Franklin Templeton, has sold its minority stake in Conpet, the operator of the oil transport network in Romania.

The state of the economy is a reflection of public policy, says FIC

The Foreign Investors Council (FIC) considers that recent negative economic data which drew the attention of politicians are the result of legislation that was adopted without...

 
 
   
advertising

advertising

advertising

advertising

More on News
TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

JLL Romania: 80 per cent of buildings under construction built according to international green standards

Stability and sustainability are the words that can describe the Romanian office market in 2017, according to Madalina Marinescu, Office Department consultant JLL Romania....

AFI Europe Romania: Romanian office market was exceptionally successful in 2017

The Romanian office market in 2017 was exceptionally successful, fuelled mainly by increased expansions and new entries in the IT&C, BPO sectors, as Tal Roma, Business Deve...

CW Echinox: Green certifications now a standard on the Romanian real estate market

2017 was a well-performing year for Bucharest's office market, with many new occupiers and expansions, and the delivered projects were rapidly absorbed, leading to a signif...

Great potential comes with big challenges

The residential market in Romania registered new record investments in 2017, one of its best years so far - and analysts said the trend will continue for sure this year.

Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...