Crude crashed to its lowest in 17-years as virus lockdowns cascade through the world’s largest economies. The market has been roiled by cratering demand and…
Tag: Brent Crude Oil Benchmark
2019 U.S Oil producers will pump an average 12.06 million barrels a day
EIA expects global liquid fuels consumption to increase by 1.5 million b/d in 2019, with growth largely coming from China, the United States, and India.
Crude oil prices are trending up
Crude oil prices are projected to range between US$58 and US$68 per barrel over the next few months in tandem with industry expectations, according to Hibiscus Petroleum Bhd managing director Dr Kenneth Gerard Pereira.
He said the benchmark Brent crude oil, currently trading at US$63 per barrel, was a strong indication of underlying demand due to growing world population.
“Crude oil prices are strong and trending up, it is not as volatile as it was before,” he told reporters at the Hibiscus Petroleum corporate and business update here yesterday. Read more