The following warnings occurred:
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined variable $awaitingusers - Line: 34 - File: global.php(844) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/global.php(844) : eval()'d code 34 errorHandler->error
/global.php 844 eval
/showthread.php 26 require_once
Warning [2] Undefined array key "mybb" - Line: 1952 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 1952 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 629 mark_thread_read
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(732) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(732) : eval()'d code 5 errorHandler->error
/showthread.php 732 eval
Warning [2] Undefined array key "additionalgroups" - Line: 7162 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 7162 errorHandler->error
/inc/functions_user.php 844 is_member
/inc/functions_post.php 406 purgespammer_show
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(474) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php(474) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 474 eval
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showimages" - Line: 741 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 741 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 746 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 746 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "invisible" - Line: 1506 - File: showthread.php PHP 8.0.30 (Linux)
File Line Function
/showthread.php 1506 errorHandler->error
Warning [2] Undefined variable $threadnotesbox - Line: 30 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 30 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $addremovesubscription - Line: 79 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 79 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $forumjump - Line: 86 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 86 errorHandler->error
/showthread.php 1533 eval




Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Brent hits $64 on oil supply curtailment
#1
Brent hits $64 on oil supply curtailment
February 18, 2021

[/url][Image: Oil-barrels.jpg]

Oil barrels
[size=undefined]
[/size]



 

Brent oil price jumped further yesterday, spurred by curtailed supplies in the southern United States (U.S.) state of Texas caused by extremely cold weather conditions.

International benchmark Brent crude traded at $64.38 per barrel after closing Wednesday at $63.35 a barrel.

American benchmark West Texas Intermediate (WTI) traded at $60.88 per barrel at the same time for a 1.38per cent increase after it ended the previous session at $60.05 a barrel.

Breaking another psychological barrier, the price of Brent surpassed $64 a barrel for the first time since January 22 when it traded at $64.58.

Bitter cold weather across the US, the world’s largest energy-consuming country, has caused an energy crisis unlike anything seen in years.



Cold weather from the Arctic to the US Midwest brought overall temperatures to their lowest levels since 2011. This resulted in the freezing of natural gas pipelines, wind turbines and the closure of oil wells, triggering electricity distribution problems and massive blackouts in some states.

At least 15 people have lost their lives since last week due to weather-related incidents, including traffic accidents.

Unprepared for the plunging temperatures brought by the winter storm, most of the oil companies halted their operations.

Occidental Petroleum Corp., the second-largest oil producer in the Permian Basin of West Texas and New Mexico, said it would reduce deliveries due to complications from the historic freeze in the region.

Prices of Brent and WTI have been restrained by the massive production cut decision of OPEC+ led by Saudi Arabia in February and March. On the back of the group’s production cuts, Saudi Arabia pledged to further cut 1 million barrels of production, which was exactly what the markets needed amid the pandemic-driven supply glut and low demand.

With Saudi Arabia’s voluntary reduction, the production cut of OPEC+ will reach 8.125 million barrels per day (bpd) for February and 8.05 million bpd in March, thus reducing output in February by 925,000 bpd and 850,000 bpd in March relative to output rates in January.

Investors are now expecting the announcement of US crude oil inventory data by the American Petroleum Institute and the US Energy Information Administration (EIA) on Wednesday and Thursday respectively.




[url=https://thenationonlineng.net/#linkedin]
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Fuel Scarcity Hits Oke Ogun, Leaves Commuters Stranded At Bus Stops (Photo) Edoman 0 833 08-13-2021, 06:04 AM
Last Post: Edoman
  Brent crude price slides to $68.86/barrel Edoman 0 872 08-10-2021, 11:42 AM
Last Post: Edoman
  Oil hits $77, daily petrol subsidy rises to N6.07bn Edoman 0 876 07-06-2021, 08:36 AM
Last Post: Edoman
  Petrol Market Price Hits N241, Pushes Subsidy To N76 Per Litre Edoman 0 768 04-29-2021, 11:41 AM
Last Post: Edoman
  Petrol Landing Cost Hits ₦216, Daily Subsidy Now ₦4.64 Billion Edoman 0 807 04-21-2021, 08:32 AM
Last Post: Edoman
  Oil Price Hits $71.28 On OPEC's Decision Edoman 1 978 03-09-2021, 09:34 AM
Last Post: Edoman
  New Petrol Price Imminent As Landing Cost Hits ₦180 Per Litre Edoman 0 602 02-16-2021, 07:11 AM
Last Post: Edoman
  Fuel Subsidy Returns As Open Market Price Of Petrol Hits ₦183 Per Litre Edoman 0 652 01-16-2021, 08:20 AM
Last Post: Edoman



Users browsing this thread: 1 Guest(s)