Oil Price Archives - Panorama Insurance Brokers

Oil prices decline as EIA reports first weekly U.S. crude-stock climb in 7 weeks

(MarketWatch) Oil prices declined on Thursday after U.S. government data revealed a weekly climb in U.S. crude inventories, on the heels of six consecutive weeks of declines, raising expectations of an oversupplied market as uncertainty continues to surround the outlook for demand. The Energy Information Administration reported Thursday that U.S. crude inventories rose by 2… Read More

Brent outlook for 2020 stands at $42.35 as Guyana expected to lift 2 million more barrels

New oil producer Guyana is expected to lift 2 million barrels more of Liza crude this year, representing the country’s share of 5 million barrels; 3 million of which have already been exported. Oil production got underway in the South American country in December 2019, the eve of a year when the world was rocked… Read More

Oil hits 5-month high just days ahead of Guyana’s 3rd lift

Just days ahead of Guyana lifting its third million-barrel oil cargo, Reuters said in a report on Wednesday oil prices rose to their highest since early March after U.S. crude inventories fell sharply and the dollar weakened. However, mounting coronavirus infections had investors worried about the demand outlook. Brent crude ended the session up 74… Read More