Week Letter Latest on the Oil& Gas market January the 21th - January the 25th
Headlines this week US oil and gas firms are ready to spend as confidence grows Iran Looks To Boost Oil, Gas Production Capacity With $1B Deals
Last week headlines Oil Majors Bet Big On Offshore Drilling In 2019 (Jan 14) Oil rises on OPEC output cuts, hopes of easing in US-China trade tensions (Jan 17)
Daily News Monday Tuesday US oil and gas firms are ready to spend as confidence grows. U.S. oil and gas executives appeared to be more bullish than the global average of positive voices which DNV GL recorded at 76 percent. (CNBC.com Iran Looks To Boost Oil, Gas Production Capacity With $1B Deals. According to S&P Global Platts, the nine deals signed on Tuesday are expected to add nearly 90,000 bpd to Iran s production capacity within the next three years (oilprice.com) Wednesday Thursday Surprise Crude Inventory Build Sends Oil Lower. The American Petroleum Institute (API) reported a large surprise crude oil inventory build of 6.55 million barrels for the week ending Jan 18, compared to analyst expectations that we would see a small draw in crude oil inventories of 42,000 barrels.(oilprice.com) Venezuelan oil sanctions could hit your wallet. The current crisis and unrest in Venezuela could lead to sanctions against the country s oil exports, which could cause your gas and diesel prices to spike. (foxbusiness.com) Russia comes in as China s top crude oil supplier, ahead of Saudi Arabia. Russia was Friday China s largest crude oil supplier in 2018, its third year in a row ahead of Saudi Arabia, customs data showed on Friday. (CNBC.com)
Oil and Gas Prices WTI Price 53,00$ (January 25) Brent Price 60,80$ (January 25) (Stats from www.oilprice.com) Natural Gas 2,997$ (January 25)
Expectations for next week (Week 5) During week 4 we got the news that Russia is the biggest oil supplier to China. Still ahead over Saudi Arabia. Thinking of this, how will this affect the oil production cuts in Russia and will Saudi Arabia increase their export since they have been the major exporter to China? Iran looks to boost their oil and gas production for a value of 1B$. With these deals says the energy minister in Iran they can increase their production over 90,000 bpd. Disclaimer European Oil Investor Groups purpose is to give the latest news in the oil & and industry. We presents the latest news from well known newspapers in the oil & gas industry. European Oil Investor group is analysing the oil market and the content is not meant for encourage our readers to invest.
Summary of the week WTI price: January 18th 52,65$ January 25th 53,00$ BRENT price: January 18th 61,47$ January 25th 60,80$ Natural Gas price: January 18th 3,122$ January 25th 2,997$ Us Petroleum Stocks (million barrels): 1,094,2 barrels crude oil, January 18th. (www.eia.gov) Us Oil rig count: 1050 (-25) rigs January 18th. (http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-rigcountsoverview)
About European Oil Investor Group European Oil Investor Group started in August 2017, with the purpose to connect people in the Oil & Gas industry. Together our network have reached over 1000 people, who can share news and seek new partners. European Oil Investor Group are very happy to say we guided several companies to find new projects and new collaborations through us. To be part of our network, follow our facebook page and our website. For Contact, E-mail us at: info@eoig.se http://www.europeanoilinvestorgroup.com/