• USD/KZT
    373
  • EUR/KZT
    437
  • RUB/KZT
    5.5
  • CNY/KZT
    45.6

Oil steady after IEA lowers demand forecast, U.S. stocks fall

Almaty. August 13. Information Center - Oil prices held steady on Thursday after the International Energy Agency lowered its 2020 oil demand forecast following unprecedented travel restrictions and data showing a decline in U.S. inventories provided some support, Reuters reports.

Brent crude LCOc1 fell 7 cents, or 0.1%, to $45.36 a barrel by 0933 GMT, and West Texas Intermediate (WTI) CLc1 was down 3 cents, or 0.1%, to $42.64 a barrel.

“The oil market enjoys some calm summer weeks, seemingly taking a break from the turbulent times earlier this year,” said Norbert Rücker, analyst Swiss bank Julius Baer.

The International Energy Agency cut its 2020 oil demand forecast on Thursday and said reduced air travel because of the COVID-19 pandemic would lower global oil consumption this year by 8.1 million barrels per day (bpd).

The Organization of the Petroleum Exporting Countries (OPEC) also said on Wednesday that world oil demand will fall by 9.06 million bpd this year, more than the 8.95 million bpd decline expected a month ago.

Russian Energy Minister Alexander Novak said on Thursday he did not expect any hasty decisions on output cuts when a monitoring committee of OPEC and its allies, known as OPEC+, meets next week as the oil market has been stable.

Last month OPEC+ eased the cuts to around to 7.7 million bpd until December from a previous reduction of 9.7 million bpd, reflecting a gradual improvement in global oil demand.

Prices found some support as U.S. crude oil, gasoline and distillate inventories dropped last week as refiners ramped up production and demand improved, a government report showed. [EIA/S]

Oil prices have been range-bound since mid-June with Brent trading between $40 and $46 per barrel, and WTI between $37 and $43.

“The market moved from chronic oversupply in April-May to a deficit by June,” said Ehsan Khoman, head of MENA research and strategy at MUFG. “The underlying oil market deficit is becoming more evident and, along with a broader reflation narrative, is keeping oil prices on an even keel.”

Markets are still awaiting a breakthrough on a U.S. stimulus package and keeping watch on frayed U.S.-China ties ahead of trade talks on Aug. 15.


Источник: Reuters

ru Более 20 миллионов тенге похищено в рамках госпрограммы «Енбек» в

ru В Нур-Султане у должника по алиментам изъяли Toyota Land Cruiser

en Kazakhstan is set to improve its consumer protection system

kz Оралда пойыз әйел адамды қағып кетті

ru В Алматы планируют снести здание Аэровокзала

ru Алматинские специалисты обнаружили ГМО в импортных печенье и лапше

en Kazakhstan's Trade House to open in Azerbaijan

ru Выездной туризм в Казахстане просядет в 2020 году в четыре

ru Как отличить у ребенка простуду от COVID-19, объяснил врач

kz Қазақстанда іскерлік белсенділік қалпына келе бастады

ru Полиция Алматы переведена на усиленный вариант несения службы

ru В какие страны могут летать казахстанцы

ru Страны ООН сознались в запоздалой реакции на коронавирус

ru Цена нефти Brent на бирже ICE опустилась ниже $41

ru Погода в Казахстне 22 сентября

ru В Алматы мужчина пострадал в результате хлопка газовоздушной смеси

ru ВВС США предупредили о падении российского спутника на Землю

ru Почти треть ВПП страны находится в теневом секторе

en Diplomas issued in Kazakhstan to be recognized in Europe

ru Бывший замглавы Минздрава подозревается в растрате 500 млн тенге

kz Қазақстанда адам саудасы бойынша 50-ден астам қылмыс анықталды

ru Более 400 санузлов появится вдоль республиканских трасс в РК

ru ЕАЭС: как перешагнуть через барьеры?

ru Казахстанцы потеряли более миллиарда тенге из-за финансовых пирамид

ru Бизнесмены России и Украины могли отмыть более $3 млрд через

en London exhibition to highlight two of Kazakhstan’s most influential non-conformist

ru Карантин привел к рекордным продажам ноутбуков

kz Қазақстанда астық экспортының әлеуеті қандай

ru Казахстанский теннисист стартовал с победы на турнире в Германии

ru Птичий грипп убил 180 000 кур за сутки в СКО