Repsol: oil output down in the first quarter
(CercleFinance.com) - Spanish oil company Repsol on Wednesday reported provisional production numbers that were down for the first quarter, on the back of lower oil prices.
Production reached 705,000 barrels per day in the first three months of the year, down from 727,000 barrels per day in the first quarter of 2018 and 722,000 in the last three months of 2018, the group said.
This fall in production occurred in an environment of lower oil prices, with the barrel of Brent having fallen back to 63.1 dollars in the first quarter, against 68.8 dollars a year earlier.
Yet, the shares in Europe's fifth biggest oil company were up 1.8% this morning, largely outperforming European peers.
Repsol will report its final first-quarter results on 30 April.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Production reached 705,000 barrels per day in the first three months of the year, down from 727,000 barrels per day in the first quarter of 2018 and 722,000 in the last three months of 2018, the group said.
This fall in production occurred in an environment of lower oil prices, with the barrel of Brent having fallen back to 63.1 dollars in the first quarter, against 68.8 dollars a year earlier.
Yet, the shares in Europe's fifth biggest oil company were up 1.8% this morning, largely outperforming European peers.
Repsol will report its final first-quarter results on 30 April.
Copyright (c) 2019 CercleFinance.com. All rights reserved.