Tags: Brent Crude
Russian Output Reached 30-Year High Ahead of Meeting with Oil Producing Countries
Russia produced 10.91 million barrels per day in March. This recorded as the highest in 30 years and raising the doubt on the production freeze.
Premier Oil's Loss Deepens in 2015 as Global Oil Industry Falls
Premier Oil posted a widened loss in the year 2015 amid lower oil price. The firm also urged the government to promote infrastructure policies in the North Sea to lure investment.
US oil explorers anticipated to report a loss of $14 billion
US oil explorers are expected to report a combined loss of about $14 billion for the year 2015, as a result of the sharpest oil price slump in a generation. Bankruptcies and disappointing debt exchanges have led the oil explorers to cut thousands of staffs, trim dividends, and abandon drilling projects to preserve capital and resist insolvency.
EIA cuts 2016 production forecast for US
The US Energy Information Administration (EIA) has lowered outlook for the US crude production in 2016. EIA has reduced the forecast for 2016 by one percent in the US oil production.