Crude Oil Price

[dan_s]

You can track the real-time movement of NYMEX crude oil futures prices at this website: https://www.investing.com/commodities/crude-oil

Make it one of your "Favorites".

The oil price that you see quoted in the business news is the front month NYMEX crude oil contract for West Texas Intermediate ("WTI").

Another website to check is: http://www.cmegroup.com/

[dan_s]

Iraq said that it has reduced its oil production by 160,000 barrels a day and will comply with cuts it agreed to make under an OPEC output deal according to oil minister Jabbar Al-Luaibi as reported by Bloomberg.It was also reported that OPEC and its partners will fulfill their implementation of a deal to cut output, having already announced 60 to 70 percent of the promised cuts. Countries including Saudi Arabia, the United Arab Emirates, Russia, Kuwait, Qatar and Iraq have announced cutbacks that account for the bulk of the deal reached last year, Kuwaiti oil minister Essam Al-Marzouk said Monday. Full implementation won’t be immediate, but rather a “process” carried out in the coming six months, according to the minister, who is chairing the committee to oversee compliance with the accord. “We are very confident that the remaining countries will abide by the cuts.”

[dan_s]

Europe's harsh winter may be having an impact on oil demand. Go to http://www.weatherbell.com/premium/ and watch the January 11 update. Most of Europe is getting hammered and the COLD WINTER is expected to get worse.

A lot of homes in Europe still burn oil to heat their homes.

[dan_s]

Weather does impact global oil production. Read: http://www.oilandgas360.com/general-fro ... opec-deal/

Most companies shut down completion operations in North Dakota during the winter.