Oil undertone: Brent at $ 55.67

Crude oil prices decline in the international markets. On the platform of ICE Brent changing hands at 55.67 dollars per barrel, a decline of 0.341 percent. Also declined WTI futures, which yields 0.36% and back to $ 52.92.

On Thursday, 12 April 2017, the EIA data on the change in US stocks showed a weekly destocking of 2.166 million barrels against expectations for an increase of 0.087 million and an increase in the previous week to 1.566 million barrels. The data strongly positive for crude assessments, it goes to the decline of these hours of dollar valuations which, as is known, tends to move in the opposite direction to oil prices: the contraction of these hours of the Washington Exchange, after Trump statements (the dollar “is becoming too strong”) therefore supports the black gold prices.

To note that the Egyptian minister of petroleum Tareq el-Molla has announced plans to purchase one million barrels of oil from Iraq per month.

Goldman Sachs also confirmed positive estimates of long-term crude claiming that WTI will rise to $ 57.50 in the second quarter and that Brent will increase to nearly 59 dollars a barrel.

It remains in the background the fear of over-production Use with the EIA which has forecast output growth in stars and stripes by 8.9 million barrels in 2016 to 9.2 million barrels per day in 2017 and 9 , 9 million in 2019.

In Milan, Eni sells 0.85%, 1.02% Saipem and Tenaris 0.63 percent. The sector index STOXX Europe 600 Oil & Gas yields 0.71 percent.

Our News

Canadian Oil Group strategies to reduce Reliance on U.S.

Since U.S. President is spoiling the American relationship with its neighbour to the north, the Canadian oil industry’s biggest trade group is looking for ideas to reduce its dependence on...

Read More

New well in North Sea for Equinor and Partners

Equinor and partners Lundin and Spirit Energy have struck oil in a wildcat well drilled in the central part of the North Sea Equinor, former Statoil has just made a new...

Read More

Good news for Brazil’s economy: Equinor and Exxon partnered for big Oil Auction

Oil companies Exxon and Equinor become partners at a field off the coast of Brazil thus generating a boost for Brazil’s economy, after weeks of political uncertainty. A consortium of Equinor,...

Read More

Lebanon starts Offshore Oil and Gas Exploration

The first phase of exploration in Lebanon’s potential offshore oil reserves has started Lebanese Energy and Water Minister Cesar Abi Khalil has approved an exploration plan submitted by a consortium of...

Read More

World’s Largest Oil Traders are competing to buy Petrobras’ Nigerian assets

Vitol, Glencore, and Shell are in the running to buy the Nigerian oil assets of Brazil’s state oil firm Petrobras The world’s three largest oil traders are competing to buy the...

Read More

Venezuela suffers but his president buys Oil for Cuba

Maduro buys $440 million foreign oil and send it to Cuba on friendly credit terms while Venezuelans starve. Venezuela has been buying foreign crude to continue supplying political allies such as...

Read More

Shell and Total to develop gas project in Oman

Total and Shell as operators will develop several natural gas discoveries located in Oman. Oman, the biggest Middle East oil producer outside Opec, signed two separate agreements with France’s Total and...

Read More

Poland Cuts Russian Oil Import Dependence

Poland is reducing its dependence on imports from Russia but at a cost Last year Poland’s imports of Russian oil dropped to their lowest level since 2005, according to a report...

Read More

Iran Oil Show 2018

At the exhibition Iran stressed the importance of Iran’s role in the energy market and the will to keep low oil prices. Over 4,000 domestic and foreign companies are participating in...

Read More

Eni, new oil discovery in Egypt

Italian oil company Eni announced an oil discovery in the Egyptian Western Desert. Eni has announced a new oil discovery in the Faghur basin, in the Egyptian Western Desert, 103 km...

Read More

Saudi Arabia needs oil at nearly $90 to balance its budget

Saudi Arabia’s efforts to revive economic growth are still dependent on oil prices, even as the kingdom tries to reduce its reliance on revenue from crude exports. Higher oil prices have...

Read More

Gazprom’s TurkStream reaches Turkish shore

With this new pipeline Russia will pump more natural gas into the European market. Russia’s Gazprom has completed the sea portion of the first line of the TurkStream offshore gas pipeline...

Read More

Become a partner

Our Partners


If you are interested in becoming a Dealoil partner please get in touch by emailing us at info@dealoil.co.uk. We look forward to hearing from you. The Dealoil team