Day: November 27, 2017

CNOOC Limited has announced today Libra block in Brazil has already started production. The Libra block is located approximately 180 kilometers off the Rio de Janeiro coast. The block had its first oil produced with the Pioneiro de Libra FPSO, destined to extended well tests, with the purpose of evaluating the dynamic behavior of the oil reservoir and deepening…

Betting on price swings in oil costs the least in three years before next week’s OPEC meeting. Implied volatility of options on second-month West Texas Intermediate futures sank to 20.94% Friday, the lowest level since October 2014, according to data compiled by Bloomberg. Volatility has been sinking as futures move steadily higher, with prices reaching…