Oil prices head for consecutive weekly losses
Oil prices remain largely flat but head for back-to-back weekly losses, for the first time since the height of Covid-19’s first wave.
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Oil prices remain largely flat but head for back-to-back weekly losses, for the first time since the height of Covid-19’s first wave.
Oil prices are losing ground again on indications that US crude oil inventories rose last week, maintaining the bearish price correction that September has introduced.
Joanna Mainguy, Energy Industry Solution Manager for EMEA at Microsoft, and Sak Nayagam, Global Marketing Director, BakerHughesC3.ai, look at the benefits of a more collaborative approach to the digital transformation business by bringing energy technology expertise together with solutions that optimise productivity and accelerate the industry transition.
Oil prices are continuing to fall, with most concerns focusing on the US, where Covid-19 isn’t slowing down and road fuel demand trembles.
Oil prices continued their decline on Monday, as the market is growing less and less confident that oil demand will recover as quickly as it hoped.
Oil prices rose today, correcting the lows that the week brought, but an overall bearish sentiment remains in the market, on concerns about weaker demand and supply increases.
Oil prices declined today as the market finally prices in the underlying uncertainty over the oil demand’s recovery, Iraq’s cuts compliance and the additional effect of Covid-19 on the economy as a whole.
Samy Helmy, TETRA Technologies, USA, reviews a series of high density, solids-free completion fluids designed for environmentally sensitive wells.
Oil prices edged down today as, while Covid-19 infections continue to multiply, the market did not receive any bullish surprise from the OPEC+ meeting, while it realised non-compliant members still had way to go to compensate for their overproduction.
Average OPEX per barrel of oil equivalent for deepwater production in the region has more than halved since 2013, from roughly US$26 to US$12.70 in 2020, a Rystad Energy report shows.
Oil prices hold on to their gains as another weekly crude storage relief is expected to be announced by the US API institute today, a day before OPEC+ meets.
Oil prices swung to losses, scrapping earlier morning gains, as renewed concerns over the global oil demand outlook outpaced the enthusiasm that another week of stock draws from US inventories brought.