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Search resuls for: "Giovanni Staunovo"


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☆ Oil prices could fall without further OPEC+ cut, analysts say
  + stars: | 2022-12-01 | by ( Ahmad Ghaddar Rowena Edwards | Ahmad Ghaddar | Rowena Edwards | ) www.reuters.com   time to read: +3 min
The group agreed in early October to cut its oil production target by 2 million bpd from November until the end of 2023. Given production restraints on some members of the alliance, the actual cut the group is expected to deliver is closer to between 1 million and 1.1 million bpd. "A further cut in production cannot ... be ruled out," PVM Oil analyst Stephen Brennock said. "Failure to do so risks sparking another selling frenzy," he added, without saying how low he thought prices could go. Amrita Sen, co-founder of consultancy Energy Aspects, told bank Jefferies that she did not expect OPEC+ to change tack yet.
☆ The West is struggling to set an oil price cap that hurts Russia
  + stars: | 2022-11-25 | by ( Julia Horowitz | ) edition.cnn.com   time to read: +6 min
Putin said Thursday that Western plans to introduce oil price caps would have “grave consequences” for energy markets. The oil price cap aims to amend that policy. Shipping services and insurance could be provided to tankers transporting Russian oil — so long as it’s purchased at or below the price cap established by Western nations. “But reality will be different.”Some analysts think the price cap will ultimately be less important than Europe’s oil embargo. “Due to the EU oil embargo and the planned price cap on oil from Russia, oil production there is likely to be significantly curtailed,” Commerzbank said in a note to clients.
☆ Oil rises 2% from multi-month lows on U.S. Gulf output cuts, supply outlook
  + stars: | 2022-09-28 | by ( Laila Kearney | ) www.reuters.com   time to read: +3 min
The outages may only provide a momentary reprieve for oil prices, said Bob Yawger of Mizuho in New York. After shutting some its offshore crude production, BP Plc (BP.L) said the storm didn't pose a threat to its Gulf of Mexico assets and it was redeploying workers to oil platforms. "Oil is currently under the influence of financial forces," said Tamas Varga of oil broker PVM. Iraq's oil minister on Monday said the group was monitoring prices and did not want a sharp increase or a collapse. U.S. crude oil in storage rose by about 4.2 million barrels for the week ended Sept. 23, according to market sources citing American Petroleum Institute figures on Tuesday.
☆ Oil up $2 a barrel from multi-month low on U.S. Gulf supply cuts, softer dollar
  + stars: | 2022-09-27 | by ( Laila Kearney | ) www.reuters.com   time to read: +3 min
An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. "Oil is currently under the influence of financial forces," said Tamas Varga of oil broker PVM. BP and Chevron said on Monday they had shut production at offshore platforms in the Gulf of Mexico as Hurricane Ian approached. read moreThe outages may only provide a momentary reprieve for oil prices, Jim Ritterbusch, of Ritterbusch and Associates, said in a note. Iraq's oil minister on Monday said the group was monitoring prices and did not want a sharp increase or a collapse.
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