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Tag: oversupply
Oil-sands companies expanding production despite oversupply
2015-09-06 23:20:46| Oil & Gas - Topix.net
Oil-sands companies are poised to crank up billions' worth of new production just when the market doesn't need it, deepening a supply glut even as profit margins in the high-cost sector shrivel. Major producers, such as Suncor Energy Inc., ConocoPhillips Co., Husky Energy Inc. and others, are pressing ahead with expansions that could add roughly 800,000 barrels per day of fresh capacity in northern Alberta by 2018, according to new data compiled by ARC Financial Corp. Oil prices fell to near four-month lows on Monday after a steep drop in Chinese stock markets and on more evidence of a global oil supply glut that has halved prices over the past year.
Tags: companies
production
expanding
oversupply
Oil prices drop with fresh oversupply concerns
2015-08-07 01:00:00| Offshore Technology
Oil prices dropped on Friday amidst oversupply concerns and are expected to end the week more than 5% lower.
Oil prices remain near multi-month lows due to oversupply concerns
2015-08-06 01:00:00| Offshore Technology
Oil prices remain near multi-month lows due to continuing oversupply concerns despite a larger drawdown of US inventory.
Fall in oil prices due to oversupply concerns
2015-08-03 01:00:00| Offshore Technology
Oil prices have dropped due to concerns of increasing over supplying and contracting demand in China, which is one of the biggest consumers of the fuel.
Oil prices dip due to oversupply concerns
2015-07-31 01:00:00| Offshore Technology
Oil prices have dropped due to increased concerns of oversupply worldwide following an announcement by the Organization of the Petroleum Exporting Countries (OPEC) hinting at continuing the production rate.
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