Azerbaijan’s state energy company SOCAR assumes an oil price of $40 per barrel in its 2017 budget, the company’s president, Rovnag Abdullayev, told reporters on Thursday. Source: Reuters
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U.S. gasoline demand fell 2.4 percent in February from a year earlier, the second straight monthly decline, according to data released on Friday by the U.S. Energy Information Administration that suggested the market may have trouble repeating last year’s record volumes. Gasoline demand fell 218,000 barrels per day to 8.988 million bpd in February, according to the EIA’s petroleum supply monthly report. Source Reuters
The U.K. economy posted its worst performance in a year as the dominant services industry felt the impact of an intensifying squeeze on living standards. Source Bloomberg
The company supplied a record 178.3 Bcm to what it calls the Far Abroad (Europe plus Turkey, excluding members of the former Soviet Union), but reported sales volumes to those countries slipped 1.1% because of lower sales prices. Oil & Gaz 360