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Top related persons:
Goldman Sachs - 1 Brent - 1 Daan Struyven - 1
Top related locs:
Long Beach , California Eureka OPEC Saudi Arabia Russia
Top related orgs:
Beta Operating - 2 Goldman - 1 OPEC - 1 Brent - 1

Search resuls for: "Beta Operating"


2 mentions found


☆ Oil prices edge higher after weekly loss as Goldman sees supply deficit on summer fuel demand
  + stars: | 2024-06-10 | by ( Spencer Kimball | ) www.cnbc.com   time to read: 1 min
Platform Eureka, an offshore oil and gas platform operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. Crude oil futures rose slightly on Monday as analysts see summer fuel demand pushing the market into a supply deficit in the coming weeks. Goldman Sachs analysts said Brent should rise to $86 in the third quarter as summer transportation and cooling demand pushes the market into a "sizeable" deficit of 1.3 million barrels per day. Here are today's energy prices:Oil prices posted a loss last week after OPEC+ agreed to increase production starting in October through September 2025. OPEC+ can delay, pause or reverse its decision to raise production if needed to stabilize the oil market, Goldman analyst Daan Struyven told clients in a Sunday note.
Persons: Goldman Sachs, Brent, Daan Struyven Organizations: Beta Operating, Goldman Locations: Eureka, Long Beach , California, OPEC
☆ U.S. crude oil extends losses on OPEC+ increasing supply later this year
  + stars: | 2024-06-04 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +1 min
Platform Ellen and Elly, offshore oil and gas platforms operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. U.S. crude oil fell more than 1% on Tuesday, extending a recent losing streak to erase most of its gains for the year after OPEC+ announced plans to increase production starting in October. U.S. crude oil and global benchmark Brent both hit four-month lows earlier in the session. U.S. crude has fallen for five consecutive sessions now, with the July contract tumbling 3.6% on Monday in the wake of the OPEC+ meeting last weekend. Here are Tuesday's closing energy prices:In a surprise move, eight producers led by Saudi Arabia and Russia laid out a detailed plan to gradually phase out 2.2 million bpd of production cuts from October 2024 through September 2025, meaning oil supply will start increasing in the fourth quarter of this year.
Organizations: Beta Operating, OPEC, Brent Locations: Long Beach , California, Saudi Arabia, Russia
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