Oil prices closed with gains on Thursday, continuing the good start of “black gold” entering 2022, while traders are following the developments in Kazakhstan and the oil production cuts in Libya. Dozens of people were killed in Kazakhstan on Thursday as security forces responded to protests across the country over rising fuel prices. The Collective […]
Tag: oil
The spread of Omicron brought profits for oil
Crude futures were higher on Wednesday, even after the OPEC + countries agreed to increase production for February and after the data showed an increase in US stocks. The reason was the rapid spread of the Omicron variant that alarmed investors. The world benchmark, the British Brent gained 1.5% sta 81.22% per barrel, while the […]
OPEC +: Agreement to increase production by 400,000 barrels / day in February
OPEC and its allies (OPEC +) decided to further boost their production at their meeting today, despite forecasts for tighter conditions in world markets in the coming months. OPEC + gave the green light for another production increase of 400,000 barrels per day in February, four sources told Reuters. OPEC + has decided to gradually […]
Oil: Possible production increase by OPEC +, after the reduction in Libya – ‘Small’ the effects of Omicron
LAST UPDATE: 22.08 Libya expects its oil production to drop by another 200,000 barrels a day next week as workers try to repair a damaged pipeline, according to Bloomberg. The latest shutdown comes less than two weeks after militias closed the largest field, Sharara, causing production to fall by about 350,000 barrels a day. Together, […]
Russia: Oil production is recovering after the fall of 2020
Russia’s annual oil production increased by more than 2% last year, thanks to the easing of production cuts by OPEC after a reduction caused by the pandemic in 2020, as data showed on Sunday, Reuters reported. Russia’s oil and gas condensate production rose to 10.52 million barrels a day last year, according to energy ministry […]
Venezuela-N. Maduro: Oil production reached 1 million barrels / day
Venezuela, a once-thriving oil-producing country whose output has plummeted dramatically in the last ten years, is close to one million barrels a day, its president, Socialist Nicolas Maduro, said on Saturday that it wanted to increase it to two. million “in 2022. “We are reaching one million this year, the goal for next year is […]
The biggest rally of 12 years for oil – Profits over 50% in 2021
The biggest annual gains of the last 12 years were recorded by the oil prices in 2021, in an impressive rally fueled by the recovery of the world economy after the recession of 2020 due to the coronavirus pandemic. In particular, the Brent completes the 2021 with total gains 51%, while the american crude with […]
Oil profits in 2021 exceed 50%
For the biggest annual gains of the last 12 years, oil prices are heading for an impressive rally for 2021 fueled by the recovery of the world economy after the 2020 recession due to the coronavirus pandemic. In particular, Brent is heading for a total profit of 53% in 2021, while WTI is heading for […]
A Breath of $ 77 US Crude – At 5-Week High Brent
Oil prices ended the week with gains, with US crude making 7×7 in its biggest profitable series since the eight-day rally that ended on February 10, 2021, according to FactSet. At the end of the year, the oil market finds momentum on the one hand by easing concerns about the impact of the Omicron mutation […]
Small losses for oil after a rally of six sessions
Oil is falling after its biggest earnings streak since February as the market weighed in on a series of supply cuts against lower quotas in China, the world’s largest importer of crude, according to Bloomberg. In particular, the crude type West Texas Intermediate February Delivery is currently at $ 75.99 a barrel, down 0.74%. At […]
