The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Oil extends slide as Russia talks of easing OPEC supply curbs

Pubdate:2018-05-25 09:31 Source:liyanping Click:
NEW YORK (Bloomberg) -- Oil prices slid for a third day in New York after Russia signaled that phasing out historic supply curbs that eliminated a worldwide glut may be on the table.

West Texas Intermediate futures slipped as much as 1.8% on Thursday, extending the pullback from a three-year high. Russia and the Organization of Petroleum Exporting Countries will discuss whether it’s appropriate to scale back output cuts, Russian Energy Minister Alexander Novak said in St. Petersburg, adding that Russia and Saudi Arabia agree market conditions will dictate any decision.

Russia and other members of the OPEC-led coalition of oil producers are broaching the possibility of easing output limits at a time when American shale drillers are pumping record amounts of crude. Still, the dual threat of supply disruptions from Iran and Venezuela -- which together account for about 14% of OPEC’s production -- may arrest any steep price slide.

“The discussions over OPEC possibly raising production is definitely raising some concern,” said Phil Flynn, an analyst at Price Futures Group in Chicago.

West Texas Intermediate for July delivery slid 70 cents to $71.14/bbl at 11:05 a.m. on the New York Mercantile Exchange.

Brent futures for July settlement were down 65 cents at $79.15 on the London-based ICE Futures Europe exchange, and traded $8.01/bbl above WTI. That spread closed at the widest since April 2015 on Wednesday.

The benchmarks are diverging as rising inventories in the U.S. weigh on American futures while risks to supply from Iran to Venezuela buoy Brent. A lack of pipelines in the prolific Permian Basin shale play in Texas is exacerbating the swelling U.S. surplus as American production tops 10 MMbpd.

U.S. inventories expanded by 5.78 MMbbl to about 438 MMbbl last week, data from the Energy Information Administration showed. That was a surprise increase compared with the 2-MMbbl decline predicted in a Bloomberg survey.

Still, traders and analysts are expecting stockpile withdrawals in coming weeks that should support prices. Data provider Genscape Inc. was said to report that inventories fell by about 475,000 bbl between May 18 and May 22 at the key pipeline hub in Cushing, Okla.

Yuan-denominated futures for September delivery were up 0.1% to trade at 485 yuan a barrel on the Shanghai International Energy Exchange. The contract declined 0.1% to 484.6 yuan on Wednesday.

The U.S. and Venezuela expelled each other’s top diplomats after President Donald Trump’s administration imposed sanctions in the wake of a disputed election in the Latin American nation.

 
主站蜘蛛池模板: 亚洲午夜成人片| 国产高清不卡一区二区| 好吊妞视频这里有精品| 国产成人在线观看免费网站| 亚洲色偷拍区另类无码专区| 中文字幕精品无码亚洲字| 日本免费a视频| 毛片基地免费观看| 成年女人18级毛片毛片免费观看 | 天天干天天插天天| 国产仑乱无码内谢| 亚洲av永久无码精品三区在线4 | 99精品无人区乱码1区2区3区 | 日本欧美一级二级三级不卡| 国产精品网站在线观看免费传媒| 亚洲综合色网站| 91精品欧美激情在线播放| 精品国产不卡一区二区三区| 日本二区在线观看| 国产一区二区三区美女| 久久精品国产99精品国产亚洲性色| 26uuu页面升级| 波多野结衣69| 天天干天天草天天| 亚洲精品国产精品国自产观看| 5╳社区视频在线5sq| 欧美三级香港三级日本三级| 国产老师的丝袜在线看| 亚洲色欲久久久综合网东京热| 99国产欧美久久久精品蜜芽| 看免费的黄色片| 在线成人播放毛片| 亚洲制服丝袜一区二区三区| 黑人巨大白妞出浆| 无翼乌全彩里番蛇姬本子| 出差被绝伦上司侵犯中文字幕| 中文字幕热久久久久久久| 精品亚洲一区二区三区在线观看| 成人久久久久久| 啦啦啦资源在线观看视频| 久久久久久久综合狠狠综合|