oil production


Oil prices extend gains, but higher output caps rise

TOKYO, March 16 — Oil prices crept higher today after the International Energy Agency said global crude demand would accelerate this year, but warned supply is growing at a faster pace. NYMEX crude for April delivery was up 5 cents, or 0.1 per…

Global airline industry sees robust 4Q17 earnings

KUALA LUMPUR: The global airline industry saw robust earnings before interest and tax (EBIT) profit margin of 8.6 per cent of revenues in the fourth quarter of 2017 (4Q 2017) — broadly unchanged compared with the same period in 2016. The International Air Transport Association (IATA) said the industry’s performance reaffirmed signs that industry profitability […]

Moody’s sees crude oil medium-term price at US$45 to US$65 per barrel

KUALA LUMPUR: Moody’s Investors Service (Moody’s) has raised its medium-term price band for crude oil to US$45 to US$65 per barrel (bbl), from US$40 to US$60 per bbl. In a statement yesterday, Moody’s said the continued Organisation of Petroleum Exporting Countries (OPEC)-led production restraints and strong global demand growth have contributed to declining global inventories, […]

Hengyuan, Petron extend losses on rising US oil production


KUALA LUMPUR (March 13): Shares of oil and gas players continue to head south this morning on rising oil production in the US. Hengyuan Refining Co Bhd fell 11 sen or 1.19% to RM9.14, with 1.27 million shares exchanging hands. The stock has been on a downward trend since Feb 27 where it closed at RM15.10, following a fall to RM8.35 on March 7. It had earlier fallen to a low of RM8.86 at 9.19am. Shares of Petron Malaysia Refining & Marketing Bhd also fell 34 sen to RM10.14, withRead More

Oil slips as higher U.S. output looms despite dip in drilling


SINGAPORE (March 12): Oil prices gave up earlier gains on Monday as rising U.S. output loomed over markets, despite a slowdown in rig drilling activity. U.S. West Texas Intermediate (WTI) crude futures were at $61.91 a barrel at 0755 GMT, down 13 cents, or 0.2 percent. Brent crude futures were at $65.38 per barrel, down 11 cents, or 0.2 percent, from their previous close. Analysts said a liquidation of long positions had contributed to the dips. “Money managers liquidated 15,416 long positions in WTI last week while creating 4,386 newRead More

Oil prices rise on reduced US drilling activity, booming job market

SINGAPORE, March 12 — Oil markets climbed today on the back of a drop in the number of US rigs drilling for more production and as the US economy continued to create jobs, which industry hopes will drive higher fuel demand. US West Texas…

Oil up after sell-offs amid optimism about Trump meeting Jong-un

LONDON, March 9 ― Crude oil futures rose today after two days of sell-offs amid optimism over a planned meeting between North Korea’s Kim Jong-un and US President Donald Trump. Kim also pledged to refrain from further nuclear or missile…

Oil prices fall with Wall Street as US crude output, stockpile rise

NEW YORK, March 8 — Oil prices tumbled yesterday as financial markets slid amid concerns that Washington’s plans for import tariffs could spark a trade war, and after US government data showed an increase in crude inventories and output. Brent…

Import taxes, soybean production to affect 2018 CPO prices

KUALA LUMPUR: The higher import tax imposed on crude and refined palm oil by India and soybean oil production are factors which can influence crude palm oil (CPO) prices in 2018. Palm Oil Analytics owner and co-founder, Dr Sathia Varqa said India’s import tax hike was the fourth in less than six months, and imposed […]

Oil prices fall as Trump adviser’s exit stokes trade war fears

SINGAPORE, March 7 — Oil prices fell today, pulled down by weaker stock markets after a key advocate for free trade in the US government resigned, stoking concerns Washington will go ahead with import tariffs and risk a trade war. Soaring US…