EIA

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EIA expects anti-Iran oil sanctions to be prolonged

The U.S. Energy Information Administration (EIA) forecasts the U.S. oil sanctions imposed on Ian will remain in place until 2020. "EIA assumes that US sanctions on Iranian oil exports will remain in place through the end of the …

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Brent oil exceeds $67

Oil prices rose today as expectations that the OPEC would start cutting supply overshadowed a big crude stock build last week. WTI Futures for December delivery traded 0.6% higher to $56.77 per barrel at 1:08 AM ET (05:08 GMT) on the …

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 Oil price to reach $137 in 2040?

The International Energy Agency (IEA) has improved its forecast for oil price by 6% to $88 per barrel in 2025 and by 0.9% to $112 per barrel in 2040, according to IEA’s World Energy Outlook 2018 report. According to the New …

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IEA executive director to visit Baku in autumn

Executive director of the International Energy Agency (IEA) Fatih Birol will visit Baku in September, Azerbaijan’s Energy Ministry said. The information was announced at the meeting of Azerbaijani energy …

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IEA: OPEC+ may accomplish its mission in May

OPEC and its allies appear to have accomplished their mission of bringing global oil stocks to desired levels as early as in May, the International Energy Agency said in its monthly report . "It is not for us to …

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EIA hikes Brent price outlook

US Energy Information Administration (EIA) has raised its forecast on crude oil prices for 2018 and 2019, along with revising upwards its estimates on US crude production for both years. According to the agency's short-term energy …

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US output records jeopardize oil markets

US crude oil production broke 10 million barrels a day in November for the first time since production peaked in 1970, the Energy Information Administration said in a monthly report. The US produced 10.038 million barrels a day in …

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IEA: OPEC counties fulfill OPEC+ oil cut deal 88%

Global supply and demand for crude oil will be largely balanced next year, as growth in consumption helps erode a three-year-old overhang of unused fuel and should mostly offset a steep rise in output, the International Energy Agency said in its …

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 Oil drillers responsible for WTI weakness - Reuters

The U.S. Energy Information Administration (EIA) is distorting oil prices by being far too optimistic in its forecasts for U.S. production, the chief executive of Continental Resources, Harold Hamm, said. Hamm blames EIA for both …

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EIA improves forecast for oil prices

The US Energy Information Administration raised its 2016 and 2017 forecasts for WTI and Brent crude prices.  In its monthly energy outlook report, the government agency forecast an average price of $ 43.57 a barrel for WTI this …

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