Tag Archives: Oil Price

Dubai and Oman crude oil prices are respectively $58.77 and $58.70 per barrel. indicating an upswing of $2.51 and $2.56.

Orbital satellite data suggests that Saudi Arabia’s crude oil inventories have risen slightly since early 2016.

The higher the price goes in the short run the more difficult it will be to return the oil taken off the market.

As the higher oil prices and the cost cuts resulted in strong cash flows for Big Oil. the companies are now trying to reward their shareholders.

US tight oil production has exceeded previous growth expectations and is currently forecast to contribute to a rise in overall US liquids by some 0.6 mb d in 2017 and then 0.9 mb d in 2018.

Iran'.s oil production is about 3.9 million barrels a day. including the 2.2 million barrels exported.

Saudi Arabia and Russia are considering extending the agreement to potentially cover all of next year.

Oil will trade at $50 to $60 a barrel for the ``medium term.`` the IMF said.

While China pushes for the petro-yuan. Russia is also making moves which could have serious implications for the U.S. dollar.

Saudi Arabia is on course with a Saudization policy that aims to reduce its reliance on immigrant labor in the public and private sector.