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11.12.24 - 17:32
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Low global demand creates opportunity for more US sanctions on Russian oil, Yellen says (Reuters EN)
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UPDATE 1-Low global demand creates opportunity for more US sanctions on Russian oil, Yellen says Adds quotes, more on oil, background, paragraphs 2-7 WASHINGTON, Dec 11 (Reuters) - The United States is continuing to look for creative ways to reduce Russia's oil revenue and lower global demand for oil creates an opportunity for more sanctions, Treasury Secretary Janet Yellen said on Wednesday....
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11.12.24 - 17:13
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US crude oil output rise to record high last week, EIA data shows (Reuters EN)
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US crude oil output rise to record high last week, EIA data shows NEW YORK, Dec 11 (Reuters) - U.S. crude oil production rose by 118,000 barrels per day (bpd) to a record high of 13.631 million bpd in the week ended Dec. 6, data from the U.S. Energy Information Administration showed on Wednesday. The previous weekly record for U.S. oil output was 13.513 million bpd, hit most recently in the week ended Nov 29. EIA began rounding weekly output to the nearest 1,000 bpd starting with the week ended...
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11.12.24 - 16:46
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US-Rohöllagerbestände sinken stärker als erwartet (Dow Jones)
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DOW JONES--Die Rohöllagerbestände in den USA haben sich in der Woche zum 6. Dezember verringert. Sie fielen nach Angaben der staatlichen Energy Information Administration (EIA) um 1,425 Millionen Barrel gegenüber der Vorwoche. Von Dow Jones Newswires ......
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11.12.24 - 16:45
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WTI Holds Gains On Surprise Crude Draw; US Production Hit New Record Highs (ZeroHedge)
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WTI Holds Gains On Surprise Crude Draw; US Production Hit New Record Highs
Oil prices are up this morning on the possibility of tighter sanctions on Russian crude and held its gains after US inflation data matched expectations.
US consumer prices rose 0.3% in November, meeting expectations and leaving traders to focus on a report that the Biden administration is considering tougher sanctions on Russia's oil trade. Curtailing Russian barrels could tighten the market and drive up prices before President-elect Donald Trump takes office. Details of the possible measures were still being worked out, according to people familiar with the matter.
The market is focused on the official crude inventory data from the US Department of Energy after API reported a small buildup last week.
API
Crude +500k
Cushing -1.5mm
Gasoline +2.85mm
Distillates +2.45mm
DOE
Crude -1.425mm
Cushing -1.298mm
Gasoline +5.086mm - biggest build since January
Distillates +3.235mm
T...
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11.12.24 - 16:24
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Norway oil firm sued over alleged links to Israeli firm operating in illegal settlements (The Guardian)
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Exclusive: Complaint says Equinor is unlawfully connected to Israel's Delek Group, which has been flagged by UN human rights commissionerThe Norwegian oil company Equinor is being sued over alleged business links to the Israeli energy company Delek Group, which has been flagged by the UN high commissioner for human rights for operating in illegal settlements in Palestinian territory.A legal complaint being filed on Thursday by Greenpeace Norway claims Equinor has breached Norway's transparency act by failing to conduct proper due diligence or limit damage from its connection to Delek Group. The act aims to aid companies “in meeting challenges of human rights abuses”. Continue reading......
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11.12.24 - 16:02
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Ölpreise steigen - Opec senkt Nachfrageprognose (DPA-AFX)
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NEW YORK/LONDON (dpa-AFX) - Die Ölpreise sind am Mittwoch etwas gestiegen. Ein Barrel (159 Liter) der Nordseesorte Brent zur Lieferung im Februar kostete zuletzt 72,86 US-Dollar. Das waren 68 Cent mehr als am Vortag. Der Preis für ein Barrel der US-Sorte ......
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11.12.24 - 14:20
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OPEC again cuts 2024, 2025 oil demand growth forecasts (Reuters EN)
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UPDATE 1-OPEC again cuts 2024, 2025 oil demand growth forecasts Adds detail from paragraph 2 LONDON, Dec 11 (Reuters) - OPEC lowered its forecasts for 2024 and 2025 global oil demand growth on Wednesday in the fifth consecutive cut to the producers group's monthly report. The weaker outlook highlights the challenge facing OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia....
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11.12.24 - 14:02
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OPEC says Russia made small cut to oil output in November (Reuters EN)
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OPEC says Russia made small cut to oil output in November MOSCOW, Dec 11 (Reuters) - Russia's crude oil output in November edged down by 7,000 barrels per day (bpd) to about 8.99 million bpd, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday, citing data from secondary sources such as consultancies. This was broadly in line with Russia's monthly output quota of 8.98 million bpd under the OPEC+ deal and including voluntary cuts....
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