Demand and production increases are common themes in the outlook for oil in 2014.
Articles Tagged "eia"
Reuters reported that oil prices dipped 3%, its lowest daily drop in 5 months, as crude inventories in the US reach their highest levels since 1990 according to the EIA.
Reuters reported that Brent crude oil reached above $108 per barrel as concerns over the Cyprus debt crisis have eased. Signs that the US Federal Reserve will continue its stimulus programs have also helped Brent crude to recover from a 3-month low.
Reuters reported that the United States’ oil consumption dropped unexpectedly in December, which pulled down the total annual demand last year at lowest level since 1996, according to the Energy Information Administration.
The Bakken Shale is fueling an upturn in fortunes for the US oil industry and could be the prime driver of oil production growth in the US over the next decade.
Analysts see Brent prices easing and WTI ending the year where it began, but do not rule out more volatility over Q4.
Spread between WTI and Brent crude the emerging oil story of 2011.
Oil prices eased modestly early on March 28 after advancing rebels in Libya announced that they would be able to resume crude exports in a week and Qatar promised to help them market their product on world markets.The price remains 8 percent higher than it was a month ago, and 30 percent higher than a year ago, challenging global economic recovery.
As China demonstrates its political clout at the G20 summit in Seoul, the country continues to make headlines in economic and energy news as the China National Petroleum Company (CNPC) has made an agreement with Shell to develop oil sands. CNPC, the parent of PetroChina, reported that its president, Jiang Jiemin and Royal Dutch Shell Plc (NYSE:RDS.B)CEO Peter Voser signed a memorandum of agreement in Beijing on "integrated co-operation" of oil and gas projects in Canada and coal bed methane development in China.
The month of October is National Energy Awareness Month, and amid the precursory anticipation of trick or treat customs, this month offers a chance to consider some worthwhile investment opportunities in this sector.