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The US Department of Energy is now reviewing its estimates for the development of the US energy market almost every month, as shale production in the country continues to outpace forecasts. Thus, in the forecast updated in February, it is expected that the rate of daily oil production in the US by the end of 2019 will be 12,650,000 barrels. The Ministry increased its January estimate by 401 thousand barrels. Compared with the forecast published two years ago, the assessment of the Ministry has increased by 1 million 610 thousand barrels. Oil production in the United States in January exceeded a record 12 million barrels per day 2 months ahead of schedule. It is expected that the new world record for daily production above 13 million barrels will be set by the United States by the end of 2020.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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