Medical and Hospital News  
OIL AND GAS
U.S. slowdown lifts oil prices
by Daniel J. Graeber
New York (UPI) Oct 7, 2015


disclaimer: image is for illustration purposes only

Crude oil prices continued a strong forward push Wednesday amid gathering signs the weak market is hurting the trajectory in U.S. shale oil basins.

Brent crude oil continued from Tuesday's dramatic rally to start trading at $52.57, up about 1.3 percent from the previous close. West Texas Intermediate, the U.S. benchmark price for crude oil, gained about the same to start trading in New York at $49.15.

The price for WTI is up more than 6 percent since Monday. Low U.S. rig counts for the week ending Oct. 2 and Russian military intervention in Syria added positive pressure to crude oil prices at the start of the week.

Low crude oil prices means less spending on exploration and production, a trend reflected in low rig counts. Weak oil, meanwhile, is hurting exporting countries like Russia, a situation the White House hinted may have led the Kremlin to take military action in Syria.

Oil field services company Baker Hughes said in a report on September total rig deployments the count in the United States was 848, down 35 from the previous month and 1,082 lower year-on-year. Total rig counts are trending near five-year lows.

The U.S. Energy Information Administration said in its short-term market report total U.S. crude oil production is expected to decline by more than 3 percent from 2015 to 8.9 million barrels per day.

EIA said in its report declines were already reported in the United States because of "unattractive economic returns."

Despite the recent surge, EIA said its 2015 forecast for a Brent average price of $54 per barrel is unchanged from previous estimates. WTI should average about $4 lower than Brent in 2015 and $5 lower in 2016.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
U.S. oil production to decline
Washington (UPI) Oct 7, 2015
Weak economics in the energy sector may lead to a general decline in total U.S. crude oil production, a short-term federal market report finds. The U.S. Energy Information Administration said in its short-term market report total U.S. crude oil production declined by 120,000 barrels per day from August to September. By next year, EIA expects crude oil production to fall from the expecte ... read more


OIL AND GAS
US Coast Guard to suspend search for 'El Faro' survivors

America's children in crossfire of gun control debate

Merkel declares EU asylum rules 'obsolete' as navies tackle smugglers

Obama apologizes to MSF for deadly Kunduz air strike

OIL AND GAS
GPS III Launch Services RFP Released by Air Force

Galileo satellites handed over to operator

New sports technology provides a GPS alternative

Russia, Brazil Sign Contract for Glonass Ground Measuring Station

OIL AND GAS
Our brain's secrets to success

Woman sits dead for hours in Hong Kong McDonald's

2-million-year-old fossils reveal hearing abilities of early humans

How to find out about the human mind through stone

OIL AND GAS
Chinese team now develops a better understanding of microbes in the air

Sneezing monkey, 'walking' fish found in Himalayas: WWF

Study sheds light on powerful process that turns food into energy

Conservationists: Smog disrupting migratory birds in Malaysia

OIL AND GAS
Cholera cases in Iraq top 1,200: ministry

Trio win Nobel Medicine Prize for parasite therapies

Chip-based technology enables reliable direct detection of Ebola virus

Bacteria in ancient flea may be ancestor of the Black Death

OIL AND GAS
China probing provincial governor for graft: state media

Hong Kong former leader charged over corruption

Dalai Lama brushes off health fears after cancelling US tour

Protesters gather in Hong Kong a year since mass rallies

OIL AND GAS
Chinese 'thief' swallowed diamond, tried to flee Thailand

Army's role questioned in missing Mexican students case

OIL AND GAS
China faces 'unprecedented' economic policy challenge: IMF

IMF gloomy on world economy as China slows

World Bank trims Asia forecast but says no China hard landing

China appetite for pricey contemporary art 'suddenly evaporates'









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.