|
1. Crude oil futures retreat after overnight rally on vaccine news, US stock
draw
MOSCOW (MRC) -- Crude oil futures slipped during mid-morning trade
in Asia Dec. 3 after rallying overnight following fresh reports of COVID-19
vaccine approvals in the UK, crude oil inventory draw in the US and as signs of
progress on OPEC+ talks emerge, reported S&P Global. At 10:40 am Singapore
time (0240 GMT), ICE Brent February contract was 13 cents/b (0.27%) lower from
the Dec. 2 settle at USD48.12/b, while the January NYMEX light sweet crude
contract was down 15 cents/b (0.33%) at USD45.13/b. The markers retreated
slightly during early Asian trade Dec. 3 after rising 1.75% and 1.64% to settle
at $48.25/b and USD45.28/b, respectively, on Dec.2 as outlooks improved amid
COVID-19 vaccine optimism and an unexpected US crude inventory draw.
http://www.mrcplast.com/news-news_open-380449.html
2.
Brent hits nine-month high as OPEC+ commits to partial quota
extension
MOSCOW (MRC) -- Oil prices settled higher Dec. 3 after an OPEC+
meeting ended with a compromise deal that would see production rising
incrementally after December, reported S&P Global. NYMEX January WTI settled
36 cents higher at USD45.64/b, while ICE February Brent was up 46 cents at
USD48.71/b. Unable to agree on a long-term production plan, OPEC and its
partners will set output levels month to month, aiming to release crude
gradually onto the market without tipping it into a supply glut during an
uncertain recovery from the pandemic, ministers said Dec. 3. Front-month ICE
Brent last settled higher March 5, while WTI finished just under its most recent
high seen Nov. 25. The deal calls for the OPEC+ alliance to boost production by
an initial 500,000 b/d in January, after which ministers will meet monthly to
determine whether to adjust that for the month ahead.
http://www.mrcplast.com/news-news_open-380450.html
3.
Chevron makes USD14bn capital and exploratory budget for 2021
MOSCOW
(MRC) -- Chevron Corporation has made a 2021 organic capital and exploratory
spending program of USD14 billion and lowered its longer-term guidance to USD14
to USD16 billion annually through 2025, accoring to The Daily. This capital
outlook will continue to prioritize investments that are expected to grow
long-term value and deliver higher returns and lower carbon, including over
USD300 million in 2021 for investments to advance the energy transition.
“Chevron remains committed to capital discipline with a 2021 capital budget and
longer-term capital outlook that are well below our prior guidance,” said
Chevron Chairman and CEO Michael Wirth.
http://www.mrcplast.com/news-news_open-380399.html |
