Saudi Arabia and the United Arab Emirates (UAE) could help calm oil markets by pumping more crude, the International Energy Agency (IEA) said on Friday, according to Reuters. It should be noted that the United Arab Emirates and Saudi Arabia are the two oil producers with the largest surplus capacity. “Oil prices are rallying once […]
Tag: oil
OPEC: Expects further boost in oil demand in 2022
OPEC kept unchanged its forecasts for the increase in oil demand in 2022 to 4.2 million barrels per day, in its monthly report on the world market that it published today, as broadcast by foreign agencies. The Organization expects oil demand in the Organization for Economic Co-operation and Development (OECD) group of countries to grow […]
Russia could earn an extra $ 65 billion if the oil rally is maintained
Russia’s budget could receive more than $ 65 billion in extra revenue this year thanks to rising oil prices, boosting the Kremlin’s economic position as the country faces potential US and European sanctions threats. Ukrainian crisis. Prices will have to stay around current levels of $ 90 a barrel this year to boost revenue by […]
Nearly $ 90 oil: WTI gains after resumption of US-Iran talks
Crude futures traded lower on Wednesday, but US benchmark prices remained below their all-time highs. The resumption of indirect talks between the US and Iran may have “contributed to the recent weakening of prices”, but the countries remain “far from any agreement that could lead to a new supply increase”, said Michael Hewson, chief market […]
US crude stockpiles cut by the EIA announced
The U.S. Energy Information Administration (EIA) announced Wednesday that U.S. crude stockpiles fell 4.8 million barrels for the week ended Feb. 4. On average, analysts forecast an increase of 100,000 barrels, according to a survey by S&P Global Platts. The U.S. Petroleum Institute said late Tuesday that U.S. crude stockpiles had fallen by 2 million […]
Oil: Brent falls after the uptrend
Brent is falling after a seven-week earnings streak that pushed crude to its highest level since 2014. Contracts in London fell 0.8% after previously reaching $ 94 a barrel. A Texas refinery with 593,000 barrels a day closed due to the weather, and prices rose after the news. The margins for heating oil have risen […]
Saudi Arabia raises oil prices in Asia
Saudi Arabia has pushed up oil prices for its main market, Asia, after crude rose to nearly $ 95 a barrel. State-owned Saudi Aramco raised prices for all types of Asian customers in March, according to Bloomberg, citing knowledgeable individuals. The company raised its price for Arab Light in the region by 60 cents from […]
Oil: Broaden 7-Year Highs – $ 92 Crude Rally at $ 92 a Week
Significant gains in oil prices on Friday, with black gold extending 7-year highs as winter storms sweep the US, boosting demand for heating oil and while supply concerns remain with investors moving away from stocks. technology in favor of less volatile goods. “A move to $ 100 for crude should not be ruled out in […]
New seven-year high for oil – Over $ 92
Oil continues to rise, reaching a new seven-year high of over $ 92 a barrel and almost every indicator indicates that the rally will continue, according to Bloomberg. Oil is trading at its strongest level in recent years, suggesting reduced supply. Diesel is also being launched due to a cold snap that is hitting the […]
US crude exceeded $ 90 / barrel for the first time since 2014
Oil prices closed with significant gains on Thursday, with US crude climbing above $ 90 a barrel for the first time in more than 7 years, amid concerns about oil production. Undoubtedly, winter storms in parts of the United States will affect oil production, said analyst Phil Flynn. Cold weather can hit oil production and […]
