Oil ended Wednesday’s session with small gains, which was enough for the US crude to reach another close at its highest level since October 2014. Crude contracts mostly moved in negative territory today, following the agreement between OPEC and its OPEC + allies to increase production by 400,000 barrels per day in March, continuing to […]
Tag: oil
Unexpected drop in US crude stockpiles last week
U.S. crude stockpiles fell unexpectedly in the week ending Jan. 28, according to data released Wednesday by the Energy Information Administration (EIA). In particular, according to EIA data, US crude stockpiles fell by 1 million barrels last week, contrary to the estimates of analysts in a poll by S&P Global Platts who expected stockpiles to […]
OPEC +: Unlikely to accelerate oil production, sources say
The OPEC + alliance is likely to stick to plans for a modest increase in its oil production target at its meeting today, according to alliance sources who spoke to Reuters, despite pressure from top consumers for more supply after rising crude prices. at a seven-year high. OPEC +, which produces more than 40% of […]
Putin’s financial ‘arsenal’ to withstand a war in Ukraine
By Christopher Helman How can Vladimir Putin afford the cost – directly and indirectly – of a new war in Ukraine? Easy – since it has been prepared for years. The reserves of the Central Bank of Russia today amount to a record amount of 640 billion dollars. To understand the size, this amount is […]
Full speed to seven-year high oil
Oil is trading at $ 89 a barrel, a seven-year high, largely due to limited supplies and geopolitical tensions in Europe and the Middle East, raising concerns about further unrest. US President Biden has said he will consider imposing personal sanctions on President Putin if Russia invades Ukraine. Also Monday, the Houthi movement in the […]
Oil: Earnings over 2% per week
Oil prices closed lower on Friday, but retained their gains on a weekly basis, recording the fifth consecutive 5-day rise. “Crude oil prices may not have a $ 100 non-refundable ticket, but data on oil supply suggests it could catch up by the summer,” said Edward Moya, an OANDA analyst. He stressed that “the next […]
At a high of more than 7 years the crude amid supply concerns
At a high of more than 7 years, oil ended on Wednesday, as geopolitical tensions and optimistic expectations for the development of demand this year continued the price rally. “Brent and US crude prices have reached new seven-year highs as geopolitical tensions have helped keep prices ‘down’, and the temporary shutdown of the oil pipeline […]
IEA: In 2022 oil demand will exceed pre-coronavirus levels
Global oil demand will surpass pre-pandemic levels this year, thanks to rising coronavirus immunization rates and as recent surges of the virus have not proven serious enough to justify a return to strict quarantine measures, the International Energy Agency has said. IEA). In its monthly report on the oil market, the IEA raised its estimate […]
OPEC: Micron and interest rates unlikely to hurt oil demand
The Organization for the Petroleum Exporting Countries (OPEC) reiterated on Tuesday that global demand for oil would grow strongly in 2022 despite the Omicron variant of the coronavirus and the expected interest rate hikes, predicting that during the year. OPEC’s optimistic assessment comes at a time when oil prices have reached their highest level since […]
At the highest level since 2014 brent
Brent crude is widening, hitting a seven-year high as geopolitical tensions in the Middle East and concerns about Omicron’s impact on demand eased. Houthi fighters in the mosque claimed to have launched a drone strike in the United Arab Emirates – OPEC’s third largest producer – which caused an explosion and fire on the outskirts […]
