Wednesday, August 5, 2026
Goldman Sachs: Oil prices won’t hit $100 until December- oil and gas 360

Goldman Sachs: Oil prices won’t hit $100 until December

Oil Price Goldman Sachs still expects Brent Crude prices to hit $100 per barrel this year, but only in December compared to earlier expectations of $100 oil as soon as mid-2023, the bank said in a new note in which it cut its average Brent price to $92 a barrel this year from $98. Despite the cut in oil price

Russia says it will cut oil production over Western caps- oil and gas 360

Russia says it will cut oil production over Western caps

Yahoo Finance MOSCOW (AP) — Russia announced Friday that will cut oil production by 500,000 barrels per day next month after Western countries capped the price of its crude over its action in Ukraine. “As of today, we fully sell all our crude output, but as we stated before, we will not sell oil to those who directly or indirectly adhere to

OPEC won’t boost output amidst Russia’s threats to cut oil production- oil and gas 360

OPEC won’t boost output amidst Russia’s threats to cut oil production

World Oil (Bloomberg) – Russia’s partners in the OPEC+ oil coalition signaled they won’t boost oil production to fill in for cutbacks announced by Moscow. The OPEC+ group, led by Saudi Arabia, will maintain output despite plans by the Kremlin to cut 500,000 bpd in retaliation for international sanctions, according to delegates who declined to be identified. Oil jumped after Russia’s

U.S. rig count increased by 7, is at 580- oil and gas 360

U.S. rig count had an increase of 2 this week, at 761

Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 2 over last week, resulting in a total count of 761 rigs. Canada had an increase of 1 over last week, resulting in a total Canadian count of 250 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Ardmore Woodford,

Enbridge books Q4 loss due to goodwill impairment charge- oil and gas 360

Enbridge books Q4 loss due to goodwill impairment charge

Oil Price Canada’s pipeline operator Enbridge (NYSE: ENB) reported on Friday a loss for the fourth quarter of 2022, compared to a profit for the same period of 2021, due to a non-cash goodwill impairment of US$1.86 billion (C$2.5 billion) in its gas transmission reporting unit. Enbridge, which moves large volumes of oil and gas in North America –including on

Oil prices rise, headed for weekly gains-oil and gas 360

Oil prices rise, headed for weekly gains

Investing TOKYO – Oil prices advanced on Friday and were heading for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide. Brent crude (LCOc1) was up 14 cents, or 0.3%, at $45.10 by 0043 GMT, heading for a gain of about 1.6% this