Japanese and Indian officials are working to find ways to sell national crude oil reserves along with the US and other major economies to cut prices, seven government sources familiar with the plans told Reuters. Such an announcement can be made even today, according to a source who has become aware of the discussions. The […]
Tag: Oil Market
Crude gains after reports that OPEC + will react to the release of strategic stocks
Oil traded higher on Monday after reports that OPEC and its allies (OPEC +) could re-evaluate their plans for gradual output growth if the US and other countries release quantities from their strategies. inventories. New York’s main contract, light sweet crude for delivery in January, gained 81 cents, or 1.1%, to close at $ 76.75 […]
At 7 week low oil – Losses over 4% per week
At the lowest level of the last seven weeks, the oil closed on Friday, recording losses for the fourth week in a row, the biggest negative series in almost 20 months. Oil prices came under pressure today as the new lockdown in Austria rekindled concerns about demand. The Austrian government announced today that the country […]
Slow 3% dip amid worries about new lockdowns
Oil prices fell sharply on Friday as the new lockdown in Austria rekindled concerns about demand. The Austrian government announced today that the country will enter a 10-day lockdown which could be extended up to 20 days, in order to reduce the number of new cases of COVID-19 galloping in recent days. Earlier this week, […]
Oil: Profits of around 1% against the background of the coordinated release of stocks
Recovery for oil prices on Thursday, which moved away from the 6-week low recorded at yesterday’s meeting. US crude futures have fallen from their recent highs as traders appear to have “costed” the impact of a possible coordinated oil release from US and China strategic reserves, said Edward Moya, an Oanda analyst. However, “the oil […]
China is also ready to release oil from its strategic reserves
China will release some crude oil from its strategic reserves, following the US call a few days ago for joint action in this area, in order to de-escalate energy costs internationally. The two presidents, Xi Jinping and Joe Biden, respectively, discussed the benefits of such a move in a teleconference on Monday, declaring Beijing a […]
‘Dive’ for oil – US crude lost $ 80 / barrel
Heavy losses for oil at Wednesday’s meeting, with the US crude losing $ 80 a barrel and its price is at its lowest level since early October. The “black gold” dip came after the South China Morning Post reported that Joe Biden and Xi Jinping discussed during their recent meeting the possibility of the US […]
Small losses for crude
Oil prices closed with mixed signs on Tuesday, with US crude closing with small losses and Brent climbing to the upside. The pressure on the US contract was caused by the statements of the leader of the House of Representatives, Steny Hoyer, who disagreed with the views expressed for the use of the government in […]
OPEC SEC: We must be very careful with the increase in production – Signs of surplus in the market
OPEC “sees” signs of oil surplus in the market from next month, with the general secretary of the cartel advising its members and their allies to be “very, very careful” regarding the review of production policy in the regular monthly meetings their. It is recalled that the Organization of the Petroleum Exporting Countries and its […]
IEA: Sees drop in oil prices
The International Energy Agency (IEA) said on Tuesday that the rise in oil prices could soon subside as the US leads the recovery in global supply. Oil prices have jumped to over $ 80 a barrel in recent weeks, reaching the highest level in seven years as demand outstrips supply. The price rally has led […]
