Oil prices rose on Thursday, after OPEC + reached an agreement to comply with the existing policy of increasing oil production by 400,000 barrels per day for January. The cartel, however, left the door open for any adjustments in production, depending on new market developments, against the background of the release of crude stocks from […]
Tag: oil
OPEC + remains firm in its policy
LAST UPDATE: 17.52 OPEC + reached an agreement on Thursday to adhere to its current policy of increasing oil production by 400,000 barrels per day in January, according to Reuters, despite fears that the release of strategic US crude stockpiles and the new variant of the coronavirus called Omicron can lead to a further fall […]
With the ‘left’ came the crude in December – WTI closed below $ 66
Oil ended the first session of December with losses, which lost its initial profits after the news that the first case of the mutated Omicron strain of the coronavirus was detected in the USA. The news sparked fears that the new coronavirus mutation could once again disrupt economic activity and consequently oil demand, driving fuel […]
Oil falls more than 2% amid worries about a slowdown in demand
LAST UPDATE: 14.05 Losses of more than 2% were recorded by oil prices on Tuesday, following the downward trend of the stock markets, as the Moderna CEO Stefan Bancel predicts that existing vaccines will be much less effective In dealing with the new mutation, they rekindled concerns about the further dynamics of the economic recovery […]
Morgan Stanley: Brent downgrades in the first quarter of 2022 due to Omicron
Morgan Stanley downgraded its Brent price estimates for the first quarter of 2022 to $ 82.50 a barrel from $ 95 a barrel, as the market expects the Omicron variant to become a major problem for oil demand. The market seems to be assessing the possibility that the new variant could lead to restrictions and […]
Russia: There is no need for hasty decisions in the oil market due to the Omicron variant
Russia sees no need for urgent action in the oil market over new coroner Omicron, Deputy Prime Minister Alexander Novak said today, downplaying the possibility of changes to the global oil deal. The Organization of the Petroleum Exporting Countries (OPEC) and other countries led by Russia, a group known as OPEC +, will hold online […]
Oil prices recover with profits over 4%
LAST UPDATE: 11.45 Oil prices are recovering at the beginning of the week, offsetting some of the losses after Friday’s slump that reached -13% with traders worried that the new mutation could derail the global economic recovery, affecting oil demand. The possibility of inflating the supply surplus in 2022 with the release of stocks from […]
Oil: Losses of more than 11% as new mutation raises concerns about international demand
Oil prices plunged more than 11% on Friday, falling to an 11-week low as a new coronavirus mutation – found in South Africa and named by the WHO as Omicron – sparked fears of a slowdown in demand as supply is increasing. In particular, the WTI January delivery It sank 13.1% or $ 10.24 to […]
Oil: ‘Dive’ over 10% with the new mutation weight
LAST UPDATE: 18.30 Oil prices plunged more than 10 percent on Friday as a new coronavirus mutation – found in South Africa – sparked fears of possible new lockdown measures that could hurt global demand recovery. In particular, the January delivery WTI fell 11.54% to $ 69.34 a barrel, while the January delivery brent fell […]
OPEC +: Releasing stocks will inflate oil surplus in 2022
The United States is trying to persuade Russia to increase oil production in a bid to cut world prices, the Interfax news agency reported on Thursday, citing the Russian Foreign Ministry. The White House announced on Tuesday that the US will release 50 million barrels of crude oil from its strategic reserves in order to […]
