about us | newsletter | contact | archive | members area
Marius Vacaroiu, Policolor
Tax changes have made us elaborate more budget impact assessments this year»
  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  |  4478 Views
Daily Info
EIB offers Romania 13 billion Euro financing in 25 years

The European Investment Bank (EIB) has granted Romania 13 billion Euro worth of loans since starting its operations in the country, in 1992, according to a report of the insti...

Germanos stores in Romania rebrand into Telekom

Telekom Romania, the second-biggest telecom group on the local market, has started the rebranding process of the Germanos shops into Telekom.

OMV Petrom doubled its profit last year

OMV Petrom had a 2.49 billion RON profit in 2017, more than double than it had recorded in 2016 (1.04 billion RON), according to a report by the company.

Complet Electro Serv appoints Cristian Laza as new CEO

Complet Electro Serv, part of Altex Romania, has appointed Cristian Laza as CEO of Complet Electro Serv, producer and distributor of electric-IT equipments.

Mol Group posts highest profit in a decade in 2017

Mol Group announced its financial results for 2017. Mol increased its EBITDA by 14 per cent outperforming its 2017 target on the back of a strong financial and operational del...

 
 
   
advertising

advertising

advertising

advertising

More on News
President Iohannis meeting Juncker and Tusk in Brussels, modifications in Romanian justice among topics

President Klaus Iohannis is to meet on Wednesday, in Brussels, with President of the European Commission Jean-Claude Juncker and with President of the European Council Dona...

1 Comment

Contract for the purchase of 227 Piranha V armored personnel carriers, signed in presence of PM Tudose

The contract for the purchase of 227 Piranha V armored personnel carriers was signed on Friday in the presence of Prime Minister Mihai Tudose, Deputy Prime Minister Marcel ...

President Iohannis: The Romanian society is mature and active and needs a state to match it

President Klaus Iohannis stated, on the occasion of the annual meeting with the heads of diplomatic missions accredited in Bucharest, that the Romanian society is a mature ...

2 Comments

Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot ...

1 Comment

PM-designate Dancila: "It's important to implement governing programme"

Prime Minister-designate Viorica Dancila stated that it's important to put into practice the governing programme, but also 2018- the Centennial Year and prepare to take ove...

1 Comment

Iohannis: Romania's progress bound to stable legislation able to punish abuses

Romania's progress is inseparably bound to a coherent, stable legislation able to punish abuses and dishonesty, said President Klaus Iohannis, pointing out that the governm...

4 Comments

Mihai Tudose announces his resignation as prime minister

Mihai Tudose announced on Monday evening, at the end of the Social Democrat Party (PSD) National Executive Committee (CExN) meeting, that he resigns as prime minister of Ro...