The three-day uptrend in oil ended on Wednesday, with both US crude and Brent prices falling sharply as a result of the increase in US stocks for the third consecutive week and the strengthening of the dollar. As reported by the US Energy Information Administration (EIA) earlier today, US crude reserves strengthened in the week […]
Tag: oil
A ‘breath’ of $ 84 oil
On the way to $ 84 a barrel, oil is moving on Tuesday, recording gains for the third consecutive session, as the lifting of travel restrictions by the US and the growing signs of recovery of the global economy from the coronavirus pandemic have strengthened its prospects. , while the supply of crude oil remains […]
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 […]
US Secretary of Energy calls on OPEC to increase production
US Secretary of Energy Jennifer Granholm on Friday called on oil-producing countries to immediately increase oil production in order to reduce the cost of living. The US government official made the move just one day after the decision of the OPEC cartel and its allies (who together form the OPEC + scheme) to continue with […]
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 […]
Sorry, President Biden, OPEC is not to blame for oil
Shortly before the next OPEC teleconference, US President Joe Biden blamed the current situation with high oil prices in Russia and OPEC. “If you take a look at the prices of gas and oil, it is a consequence of the refusal so far of Russia or the OPEC member countries to pump more oil,” he […]
“There is nothing we can do.” In Sri Lanka, a ship with tons of chemicals completely sank to the bottom
Off the coast of Sri Lanka, a vessel with 25 tons of chemicals completely sank to the bottom. Due to difficult weather conditions in the near future, its wreckage will not be obtained, reports Associated Press. A container ship with chemicals completely sank off the coast of Sri Lanka on June 17 – almost […]
Oil rises: Demand may not recover until 2025, according to IEA
Investing.com – After recording drops on Monday due to the resumption of production in the Gulf of Mexico and the end of strikes in Norway, WTI crude rose this Tuesday to recover $ 40 a barrel, as did the Brent , at $ 42. All this, on the day that the International Energy Agency (IEA) estimates that global energy […]
Norway uses oil fund to boost economy
The government plans to return to orthodoxy from 2021, with growth rebounding to 4.4%. The economy is much less hard hit by the coronavirus than expected. Let go of ballast, but not too much. For the Norwegian government, the 2021 budget proposal presented on Wednesday should make it possible to revive the economy, although less hard hit […]