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LONDON, Feb 4- Oil prices fell on Wednesday after a new build in U.S. crude stock levels put a global glut back in focus, cutting short a rally that pushed up prices by about 19 percent over the past four sessions. But a report from the industry group American Petroleum Institute showing U.S. crude stocks rose more than 6 million barrels last week pushed prices down on...
Depsite forex headwinds and lower crop prices, Mike Mack, CEO of Syngenta, explains why the low oil price will be a tailwind for the company in 2016.
Many believe the oil price slide is over. However, Neil Atkinson, head of analysis at Lloyd's List Intelligence, disagrees, saying that with a surplus in major oil supply and a sluggish oil demand will persist for the first half of 2015.
Neste Oil is dropping the "Oil" in its company name. Matti Lievonen, company CEO, explains that 40 percent of its profit came from renewable energy.
Matti Lievonen, CEO of Neste Oil, says the company is pleased with its fourth-quarter results, which demonstrate its objective to stay strong and "robust."
Mark Lewis, senior analyst at Kepler Cheuvreux, says there is an "unprecedented" drop in rig count, but adds that oil will not see a sustained rally until the second half of the year.
Mike Nicholson, CFO of Lundin Petroleum, says the company is in a strong position to "cope with what market throws at us".
Alejandro Barbajosa, vice president of Crude Middle East & Asia-Pacific at Argus Media, says the stabilizing effect of falling oil rig counts may only materialize in mid-2016.
Despite the recent rally, oil markets remain way oversupplied amid too little demand, says Victor Shum, vice president at IHS Energy Insight.
Oil prices have rallied off post-crisis lows, possibly marking the rout's bottom as producers' cutbacks begin pinching supply, some analysts said.
SINGAPORE, Feb 4- Oil prices fell on Wednesday as renewed concerns over global demand and high stock levels halted a rally that pushed up prices by about 19 percent over the past four sessions. Brent crude was 50 cents lower at $57.41 a barrel by 0336 GMT, after gaining almost 6 percent on Tuesday and off a near six-year low of $45.19 reached in mid-January.
Thierry Apoteker, executive chairman at TAC Economics, expects Brent crude to hit $70 a barrel sometime this quarter and $90 a barrel later this year.
Oil extended losses on Wednesday, reversing a four-session rally, after US crude inventories rose by 6.3 million barrels.
JJ Kinahan, chief strategist at TD Ameritrade, discusses the significance of the S&P 500 hitting the 2,050 level overnight, along with the rotation between fixed income and stocks.
Daryl Guppy, CEO at Guppytraders.com, says U.S. crude is seeing a short-term rally within the context of a downtrend, while benchmark Brent could rally to $60-62 a barrel before retreating again.
SINGAPORE, Feb 4- U.S. crude futures fell more than 2 percent in early Asian trade on Wednesday, after a tumbling dollar had pushed up prices by about 19 percent over the last four sessions. Estimates by industry group American Petroleum Institute that U.S. crude stockpiles rose more than 6 million barrels last week, in a fifth straight week of climbs, helped drive...
*Asian share markets set for gains after Wall St jump. SYDNEY, Feb 4- Oil prices were holding hefty gains in Asia on Wednesday having rallied 19 percent in just four sessions, while the U.S. dollar nursed big losses as a revival in risk appetite swept through crowded trading positions. Benchmark Brent crude oil finished Tuesday with a gain of $2.25 to $57.00 a barrel,...
Petrobras shares jumped more than 15 percent after a local newspaper reported that Brazilian President Dilma Rousseff has decided to replace the CEO.
John Carey, executive vice president & portfolio manager at Pioneer Investments, discusses the rebound in crude oil prices despite the imbalance between supply and demand.
Discussing the economics of oil, and what kinds of acquisitions investors can expect ahead, with Kinder Morgan Chairman and CEO Rich Kinder.