• Latest
  • Trending
Oil Prices Fall on Renewed Coronavirus Concerns as China Cases Mount

Oil Gains as US Production Slowly Returns After Freeze

February 22, 2021
Covid-19: Nigeria Records New High  as Confirmed Cases Pass 1000 Mark

Covid Vaccines :We Have to Work with the Country We Have, Not the One We Wish We Had, Nigeria’s Disease Control Boss, Ihekweazu Says

February 26, 2021
Britain Bans New Huawei 5G Kit Installation from September 2021

Reeling from US sanctions, China’s Huawei Plans Foray into Electric Vehicles

February 26, 2021

Niger State Governor Says Federal Government Not Helping in Securing Kagara Schoolboys’ Release

February 26, 2021
Biden to Sign Executive Orders Reversing Trump Actions in First Days in Office, to Rejoin WHO and Paris Accord

US Conducts Air Strikes on ‘Iran-backed Militia’ in Syria

February 26, 2021

Parents Need to Be Involved in Children’s Learning Process to Halt Dwindling Quality of Education, Polly Alakija Says

February 26, 2021
ARISE.TV HEADLINES 26-02-21

ARISE.TV HEADLINES 26-02-21

February 26, 2021

Bandits Abduct Over 300 Schoolgirls in Nigeria’s Northwestern Zamfara State

February 26, 2021
Buhari ‘Disgusted’ By CNN, BBC Coverage of #EndSARS Protests

Buhari Warns Against Ethnic Profiling, Promises to Deal With Insurgents

February 26, 2021
RwandAir to Become First in Africa to Implement IATA Travel Pass

RwandAir to Become First in Africa to Implement IATA Travel Pass

February 26, 2021
ARISE XCHANGE

ARISE XCHANGE

February 25, 2021
Admiral Joe Aikhomu, Chairman Ocean Marine, Dies at 65

Admiral Joe Aikhomu, Chairman Ocean Marine, Dies at 65

February 25, 2021
Nathaniel, 9, Travelled to London to Get a Prosthetic Eye. Now He Needs £850,000 to Live after Leukaemia Diagnosis (WATCH)

Nathaniel, 9, Travelled to London to Get a Prosthetic Eye. Now He Needs £850,000 to Live after Leukaemia Diagnosis (WATCH)

February 25, 2021
ARISE Correspondent Receives Covid Vaccine in UK, Investigates Low Uptake in Black Community

ARISE Correspondent Receives Covid Vaccine in UK, Investigates Low Uptake in Black Community

February 25, 2021

ARISE NEWSDAY

February 25, 2021
Mozambique Receives First Batch of Sinopharm Covid-19 Vaccine Doses

Mozambique Receives First Batch of Sinopharm Covid-19 Vaccine Doses

February 25, 2021
Abuja Plane Crash: Seven Air Force Personnel Buried in Military Cemetary

Abuja Plane Crash: Seven Air Force Personnel Buried in Military Cemetary

February 25, 2021
Nigeria’s Attorney General Malami Won’t Allow New Anti-graft Boss Bawa Succeed, Sagay Says

Nigeria’s Attorney General Malami Won’t Allow New Anti-graft Boss Bawa Succeed, Sagay Says

February 25, 2021
Ivorian Opposition Seeks to Upset Ouattara’s Parliamentary Majority

Ivorian Opposition Seeks to Upset Ouattara’s Parliamentary Majority

February 25, 2021

Global Business Report

February 25, 2021

Morning Show

February 25, 2021
India Releases New Rules to Regulate Social Media, Digital News Platforms

India Releases New Rules to Regulate Social Media, Digital News Platforms

February 25, 2021
Over 1.3 Million Texans Still Grappling With Water Supply Disruptions

Over 1.3 Million Texans Still Grappling With Water Supply Disruptions

February 25, 2021
Report: More Than 6,500 Migrant Workers Have Died During Qatar’s World Cup Prep

Report: More Than 6,500 Migrant Workers Have Died During Qatar’s World Cup Prep

February 25, 2021
Nigerian Journalists are Criminals for Calling Bandits Criminals, Sheikh Gumi Alleges

Nigerian Journalists are Criminals for Calling Bandits Criminals, Sheikh Gumi Alleges (Full Interview)

February 25, 2021
Following Devaluation of Naira, Fitch Upgrades Nigeria’s Outlook to ‘Stable’

Fitch Revises Nigeria’s 2021 GDP Growth Forecast to 1.6% from 2.3%

February 25, 2021
Qantas Aims to Restart Most International Flights in October

Qantas Aims to Restart Most International Flights in October

February 25, 2021

Moderna Set to Test Coronavirus Booster Shot For South African Strain

February 25, 2021
ARISE.TV HEADLINES 25/02/21

ARISE.TV HEADLINES 25/02/21

February 25, 2021
After Public Outcry, Ghana Police Shut LGBT Centre in Accra

After Public Outcry, Ghana Police Shut LGBT Centre in Accra

February 25, 2021
Aston Martin Expects Better 2021 Sales after Deep Losses

Aston Martin Expects Better 2021 Sales after Deep Losses

February 25, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Friday, February 26, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Business

Oil Gains as US Production Slowly Returns After Freeze

February 22, 2021
Reading Time: 2min
0 0
0
Oil Prices Fall on Renewed Coronavirus Concerns as China Cases Mount
Share on FacebookShare on Twitter

Oil prices rose on Monday as the slow return of US crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandemic.

Brent crude was up 76 cents, or 1.2%, at $61.67 a barrel by 0104 GMT, after gaining nearly 1% last week. US oil rose 74 cents, or 1.3%, to $59.98 a barrel, having fallen 0.4% last week.

Abnormally cold weather in Texas and the Plains states forced the shut down of up to 4 million barrels per day (bpd) of crude production along with 21 billion cubic feet of natural gas output, analysts estimated.

Oilfield crews will likely take several days to de-ice valves, restart systems and begin oil and gas output. US Gulf Coast refiners are assessing damage to facilities and may take up to three weeks to restore most of their operations, analysts said, with low water pressure, gas and power losses hampering restarts.

“With three quarters of fracking crews standing down, the likelihood of a fast resumption is low,” ANZ Research said in a note.

“Longer term, the fall in capital expenditure at U.S. shale oil companies this year will keep drilling activity subdued, leading to output remaining below pre-pandemic levels,” ANZ said.

For the first time since November, US drilling companies cut the number of oil rigs operating due to the cold and snow enveloping Texas, New Mexico and other energy producing centres.

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

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

Add New Playlist