Global Energy Industry News

What Is the ‘Magic Number’ for the Price of Oil?

April 22, 2016
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By hellenicshippingnews Here’s a number to focus on: $50. That’s per barrel, the price of Brent crude oil at which falling prices started to hurt rather than help shares and other risky assets. Monday’s 6% fall and rebound in oil pushed equities down and back […]

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Oil production in US may drop by at least 0.5-0.6mn b/d yoy: Natixis

April 22, 2016
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By hellenicshippingnews US oil production may drop by at least 0.5-0.6mn b/d yoy (annual average) and by a further 0.5mn b/d in 2017 if oil prices failed to recover over $40/bbl prompt (or $50/bbl at the back-end of 2017 […]

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Iran’s oil production has already surpassed 3.5 million bpd -IRNA

April 18, 2016
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By hellenicshippingnews Iran’s oil production has already surpassed 3.5 million barrels per day, the deputy oil minister said on Saturday, and the Islamic Republic is seeking to increase oil and gas exports in the coming month. “Iran’s crude oil exports will increase to 2 million […]

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Oil industry may see cash tighten as banks face pressure

April 18, 2016
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By hellenicshippingnews U.S. oil and gas companies have been hammered by collapsing crude prices, and now the banks that provide their lifeblood are under pressure to curb their lending to them. This month, the energy industry has entered a regular, twice-annual review period that will determine […]

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