Oil and Gas Industry Latest News

27.01.2016 World Bank Lowers 2016 Forecasts for 37 of 46 Commodity Prices, Including Oil

The World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections.

26.01.2016 EIA: Natural Gas Prices Expected to Rise Over Next Two Years

The average natural gas spot price at the benchmark Henry Hub for December 2015 of $1.93 per million British thermal units (MMBtu) was the lowest monthly average since March 1999.

13.10.2015 OPEC Raises Forecast for Russian Oil Production

OPEC has once again increased its forecast for oil production in Russia to 10.75 mln barrels per day in 2015, according to the OPEC October oil market report, published Monday.

11.09.2015 Oil Could Plunge to $20, Goldman Sachs Says

Oil could plunge as low as $20 a barrel amid a glut of production around the world, Goldman Sachs analysts said Friday in a new report, writes USA TODAY
That's a level not seen in more than a decade.

09.09.2015 Platts Survey: OPEC Pumps 31.26 Million Barrels of Crude Oil Per Day in August

Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.26 million barrels per day (b/d) in August, down 140,000 b/d from the July level of 31.4 million b/d as several member countries, including Saudi Arabia, trimmed output, according

08.09.2015 Trend: "OPEC Finished as an Oil Price-setting Mechanism" (exclusive)

By Aygun Badalova – Trend:

OPEC is finished as an oil price-setting mechanism, Sam Barden, the director of SBI Markets, an international commodity trading and advisory company believes.

02.09.2015 Russia Ready to Continue Talks with OPEC on Oil Price Stabilization: Report

Russia is ready to continue consultations with OPEC on oil price stabilization issues, deputy Prime Minister Arkady Dvorkovich said Monday, commenting on a recent call by the group for cooperation between oil-producing nations to counteract the recent plunge in prices to

27.08.2015 Saudi Arabia ‘Could Cut Billions’ from Budget Amid Plunging Oil Prices – Report

Saudi Arabia is preparing to cut billions of dollars from its budget amid a steady drop in crude oil prices, a Bloomberg report suggests. Reportedly, Riyadh is currently working with advisers to review capital spending plans and delay some projects.