Subscribe free to our newsletters via your
. GPS News .




OIL AND GAS
WTI, Brent search for traction
by Daniel J. Graeber
New York (UPI) Oct 30, 2014


disclaimer: image is for illustration purposes only

Crude oil prices indices moved down in parity Thursday following reports that OPEC output would hold steady and U.S. production had increased marginally.

Major stock indices struggled to find a consensus in Thursday trading after the U.S. Federal Reserve announced an end to the stimulus program known as quantitative easing. The Nikkei 225 Index was up 0.67 percent while the DAX index in Europe posted a drop of 0.92 percent.

West Texas Intermediate crude oil prices for December delivery drifted off its Wednesday mark to trade down 0.62 to $81.58 in early Thursday trading.

WTI, the U.S. benchmark, has been drifting toward the $80 mark because of supply and demand dynamics in the U.S. market. The U.S. Energy Information Administration said in its weekly report crude oil production for the week ending Oct. 24 averaged 8.97 million barrels per day, an increase of about one half of one percent from the previous week and 14 percent above the same week in 2013.

Brent crude oil followed a similar course, trading down 0.62 to $86.50 in early Thursday trading. Brent and WTI both have shed about 20 percent of their values since mid-summer, though long-term contracts for the international benchmark show a drift toward $90.

Abdalla el-Badri, secretary-general of the Organization of Petroleum Exporting Countries, said Wednesday the 12-member group will likely keep its output steady.

"Don't panic," he said. "I am sure the market will balance itself."


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








OIL AND GAS
Algeria's Sonatrach to probe offshore energy
Algiers, Algeria (UPI) Oct 30, 2014
Algerian energy company Sonatrach announced plans to carry out its first ever offshore drilling campaign by the end of next year. Interim Chief Executive Officer Said Sahnoun announced the plans during the signing ceremony for contracts awarded during the latest licensing round. State-owned Sonatrach "intends to drill its first offshore well by the end of 2015," he said Wednesday ... read more


OIL AND GAS
World losing 2,000 hectares of farm soil daily to salt damage

Salt-loving plants key to sustainable food production

No-till agriculture may not bring hoped-for boost in global crop yields

Chewing too much hassle? Japan's got just the thing

OIL AND GAS
Molecular electronics process enables DNA-based computer circuitry

Quantum holograms as atomic scale memory keepsake

Precise and programmable biological circuits

Superconducting circuits, simplified

OIL AND GAS
Brazil inks deal for Gripen aircraft

US agrees deal to buy 43 more F-35 fighters: Pentagon

Brazil, Argentina to negotiate over Gripen aircraft

Charles River Analytics awarded NASA contract to improve aviation safety

OIL AND GAS
Dongfeng, Huawei partner for Internet-enabled cars

Renault chief sees Europe auto market slowing in 2015

Tritium targets Europe for its EV fast charger

A Big-Data Approach To Estimating EV Range

OIL AND GAS
France's Hollande in Canada to drum up trade

Mandarin compulsory as Portuguese town seeks foothold in China

Tanzania to start major port construction in 2015

Manufacturing moving from China to US: survey

OIL AND GAS
Mature forests store nitrogen in soil

Global consumption driving tropical deforestation

Sean Parker to pay fines and build app for Big Sur wedding damages

First Detailed Map Of Carbon Stocks In Mexico Forests Unveiled

OIL AND GAS
Copernicus operations secured until 2021

IceBridge Flies Around the Pole

ECOSTRESS Will Monitor Plant Health

China to help map Guyana's mineral resources: minister

OIL AND GAS
Special UO microscope captures defects in nanotubes

Electric charge along microbial nanowires imaged

Nanoparticles get a magnetic handle

Solid nanoparticles can deform like a liquid




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - 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. 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. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.