• EKSPLORASI.ID
  • MONETER.ID
  • BANTEN.CO
Minggu, Juni 22, 2025
  • Login
EKSPLORASI.ID
  • HOME
  • BERITA
  • INDEPTH
  • RAGAM
  • ENGLISH NEWS
  • OPINI
  • VIDEO
  • FOTO
  • INFOGRAFIS
  • INDEKS
No Result
View All Result
  • HOME
  • BERITA
  • INDEPTH
  • RAGAM
  • ENGLISH NEWS
  • OPINI
  • VIDEO
  • FOTO
  • INFOGRAFIS
  • INDEKS
No Result
View All Result
EKSPLORASI.ID
No Result
View All Result
Home BERITA

Oil Rises After Month Of Steady Decline But Oversupply Still Weighs

by Eksplorasi.id
1 Agustus 2016
in BERITA
0
Oil Rises After Month Of Steady Decline But Oversupply Still Weighs

A gas station attendant pumps fuel into a customer's car at PetroChina's petrol station in Beijing, China, March 21, 2016. REUTERS/Kim Kyung-Hoon

0
SHARES
45
VIEWS
Share on WhatsappShare on Facebook

Eksplorasi.id.Oil rose on Monday, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by plentiful crude supplies, a flood of refined products, and a weakening economic outlook.

Brent crude was at $43.72 per barrel at 0440 GMT (12:40 a.m. ET), up 19 cents from its last close in July, when it lost 12 percent over the month.

U.S. West Texas intermediate was at 41.76 per barrel, up 16 cents from July’s last close. WTI shed 13 percent in July.

 “Oil prices rose on the day but appear vulnerable to concerns of oversupply,” ANZ bank said, with traders pointing to an influx of new orders with the start of August.

Overproduction of crude and a wave of refined products were the main factors weighing on oil.

“Last week’s crude build in the U.S. and the return of production in both Canada and Nigeria was a rude awakening that rebalancing (of oil markets) is probably further away than the market thought,” Singapore Exchange (SGX) said.

Responding to an expected drop in demand, top exporter Saudi Arabia on Sunday slashed the September price for its light crude for Asian customers by $1.30 a barrel.

This is the largest cut in nearly a year, ahead of an expected fall in demand in October when about 1 million barrels per day (bpd) of refining capacity in Asia will be shut for maintenance.

Output from the Organization of the Petroleum Exporting Countries (OPEC) in July likely reached its highest in recent history, at 33.41 million bpd from a revised 33.31 million bpd in June.

In Libya, the state oil company said it welcomed the reopening of oil ports following a deal between the U.N.-backed government and an armed force, saying it would begin work to restart disrupted exports soon. The country is aiming to boost exports to 900,000 bpd by the end of the year.

In the United States, drillers last week added oil rigs for a fifth consecutive week as part of the biggest monthly rig count increase in over two years, adding three oil rigs to a total of 374.

Just as oil supplies rise, new economic concerns have emerged.

Japanese manufacturing activity shrank in July and new export orders contracted the fastest in more than 3-1/2 years, a survey showed on Monday.

In South Korea, July exports fell at the fastest pace in three months, far worse than expectations, contracting 10.2 percent on-year to $41.05 billion.

Its July crude imports fell 5.8 percent from a year earlier to 88 million barrels, official data showed on Monday.

Eksplorasi/Dian/Source

Eksplorasi.id

Eksplorasi.id

Next Post
Tiga Proposal ESDM Masuk Top 99 Inovasi Pelayanan Publik

ESDM Akan Umumkan CNC 100 Tambang Batubara

Tinggalkan Balasan Batalkan balasan

Alamat email Anda tidak akan dipublikasikan. Ruas yang wajib ditandai *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Pelaku Batu Bara Kian Terhimpit Pengenaan PBB Baru

Pelaku Batu Bara Kian Terhimpit Pengenaan PBB Baru

9 tahun ago
Bupati Purwakarta Instruksikan Awasi Agen Elpiji ‘Nakal’

Jawa Timur: Pertamina Tambah Pasokan Gas Melon 13 Persen

9 tahun ago

Sering Dibaca

  • Potensi Uranium Indonesia 77 Ribu Ton, Bisa Penuhi Kebutuhan Listrik 40 Tahun

    Potensi Uranium Indonesia 77 Ribu Ton, Bisa Penuhi Kebutuhan Listrik 40 Tahun

    0 shares
    Share 0 Tweet 0
  • Menyigi Kedekatan Massa Manik dan Grup Danatama

    0 shares
    Share 0 Tweet 0
  • Ini Data Lokasi Pengeboran Minyak Ilegal di Banyuasin

    0 shares
    Share 0 Tweet 0
  • FSRU Lampung Terima 1 Kargo LNG dari Tangguh

    0 shares
    Share 0 Tweet 0
  • PLN Kembangkan Energi Mikro Hidro Di Sumba

    0 shares
    Share 0 Tweet 0

RSS Moneter.id

EKSPLORASI.ID

© 2020 Eksplorasi.id - REFERENSI BERITA ENERGI

Navigate Site

  • REDAKSI
  • KETENTUAN LAYANAN
  • PEDOMAN SIBER
  • HUBUNGI KAMI

Follow Us

No Result
View All Result
  • HOME
  • BERITA
  • INDEPTH
  • RAGAM
  • ENGLISH NEWS
  • OPINI
  • VIDEO
  • FOTO
  • INFOGRAFIS
  • INDEKS

© 2020 Eksplorasi.id - REFERENSI BERITA ENERGI

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In