Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Wednesday, 20 June 11:10 (GMT -05:00)



Stock and commodities markets

USA Outpaces Russia to Become World’s Biggest Oil Producer


 

In March 2018, the United States outpaced Russia in terms of oil production. This means that the USA is now the biggest producer of crude oil in the world.
 
In March, American oil companies were producing 10,425 million barrels a day on average while their Russian peers produced only 10,298 million barrels a day on average. Russia is now the second-biggest producer of crude oil in the world while Saudi Arabia is the third-biggest one with 9,907 million barrels produced daily.

The first time the USA came close to Russia in terms of oil production was in February 2018 - 10,298 million b/d against 10,264 million b/d respectively. Saudi Arabia came in third with 9,935 million b/d. According to JODI, while Russia’s daily oil production showed no change and Saudi Arabia’s production shrank by 0,28%, the USA actually continued boosting its oil production, which eventually made America number one.

The U.S. oil export increased by 3.7% up to 1.664 million barrels a day in March. At the same time, Saudi Arabi saw its oil export decline by 1,8% down to 7,122 million barrels a day. There was no clear info on the Russian export. For now, it’s assumed that the export didn’t change much over the reporting period and stayed above 5 million barrels a day.

At the same time, JODI reported American refineries boosted their production by 4,9% up to 16,713 million barrels a day while their Russian and Saudi peers shrank their production a little – under 0,5 percent.

 

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Saudi Arabia Raises Oil Prices for Asian and European Buyers

Saudi Arabia is reported to have raised oil prices for Asian and European importers. This is confirmed by Bloomberg.

Publication date: 09 June 10:26 PM

Market Players Play Oil Price Guessing Games

The international market of crude oil seems to be in panic. Yet, the panic is snowballing. The reason for that is said to be the statement made by Russian Energy Minister Alexander Novak about the possibility of easing the OPEC+ deal in June 2018, which came as a surprise to the international trading community.

 
Publication date: 29 May 01:41 PM

Crude Oil Goes Above $80/b, Morgan Stanley Improves Oil Forecast

On Thursday, May 17th, Brent oil exceeded $80/b for the first time in 3,5 years. The last time the price reached this level was on November 25th, 2014.

Publication date: 17 May 11:20 AM

Oil Prices At $79/b, Russian Ruble Still Weak. Why?

On Tuesday, May 15th, Brent oil reached $79/b. Strange as it may seem, the Russian Ruble hasn’t reacted to this so far, even though this always has been a positive sign for Russia’s national economy and currency heavily reliant on crude oil prices. Moreover, the currency has been going slightly down for a while despite being backed by higher oil prices.

Publication date: 15 May 01:19 PM

Russia Isn’t Interested In OPEC+ Anymore

Right in advanced of the forthcoming OPEC+ summit some experts doubt that Russia is still interested in the agreement. The strategic objectives of the OPEC+ deal are almost reached. The imbalance in the global oil market has almost been eliminated. The cost of a barrel of Brent oil has increased by more than 100% since late 2016. At this point Brent oil is trading above 70 dollars per barrel. On Q1 2018, the OPEC made 400 million dollars a day more than 12 months before.

Publication date: 28 April 07:57 AM

Who Loses and Wins from Oil Prices At $70/b?

High oil prices have two sides of one coin. On the one hand, while oil producers are  benefiting from today’s oil prices over $70/b, this seems to be  creating an extra pain for oil consumers worldwide. What exactly has been happening to oil-producing economies?

Publication date: 28 April 06:10 AM

American Oil Export to Europe Quadruples Thanks to OPEC+

As predicted by many experts, the OPEC+ agreement has been favoring American shale oil producers. The export of American oil to Europe has quadrupled. The thing is that the agreement between the OPEC and Russia-led non-OPEC oil producers pushed oil prices high enough to make American shale oil production profitable again.

Publication date: 26 April 05:26 AM

Russian Oil Production Is About To Peak and Start Declining in the Near Future

According to Finanz, with reference to the International Energy Agency, Russia has been benefitting from its oil production and export for decades. However, this is about to change in the future since the Russian oil industry is about to see its production peak, which means it will inevitably start going down further down the road.

Publication date: 16 April 05:31 AM

US-China Trade War Drops Oil Prices

The trade war between the United States and China is underway. Yet, it has already led to some consequences. For example, international experts say that this war has been the reason for the current weakness of the global market of cryptocurrencies. At the same times, Finanz experts claim that this trade war has dropped oil prices.

Publication date: 06 April 01:09 PM

USA Almost Doubles Oil Export in 2017

In 2017, the United States’ oil export reached 1,1 million barrels on average, which is almost twice as much as exported in 2016. These figures are confirmed by the EIA.

Publication date: 30 March 12:49 AM