The United Arab Emirates said oil prices would be even higher today without OPEC +, signaling that the agency would continue to resist US pressure to increase production. “Fortunately we have OPEC +,” UAE Energy Minister Al-Mazrouei told the Africa Oil Week conference in Dubai on Monday, according to Bloomberg. OPEC + has prevented “having […]
Tag: Oil Market
Oil: Losses in the week despite today’s gains
Despite today’s recovery from yesterday’s losses, with gains of more than 2%, oil fell on a weekly basis. It is noted that yesterday oil suffered losses in the aftermath of the decision of OPEC + to keep the growth rate of production unchanged at 400,000 barrels per day in December, ignoring the calls of US […]
Oil at a one-month low after the OPEC + decisions
International oil prices ended a tumultuous session, closing at their lowest levels since early October, following the decision of the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC + companies not to increase production more than planned here. and months, despite pressure from the US Biden government for more growth. The OPEC + […]
OPEC +: Expected to keep oil production levels unchanged despite international pressure
Oil prices have reached higher levels since 2014 and crude oil importing countries are feeling the effects. But despite international pressure, OPEC and its allies are unlikely to decide to turn on the taps during the meeting today Thursday. According to CNBC, this probably means that high energy prices will continue until the end of […]