WTI rallied above $ 77.00 on Thursday as oil continues to trade with a positive bias. OPEC + is likely to stick to existing policy at the next meeting, which means another 400,000 BPD hike is likely from February. Oil prices have been trading within recent ranges on Thursday, with first-month WTI futures in recent […]
Tag: OPEC
OPEC: The payment of allowances December 2021
According to an announcement by OPEC, on December 31, the following allowances will be paid: Housing Allowance: 274,924 beneficiaries – 33,223,563 euros Minimum Guaranteed Income: 243,005 beneficiaries – 53,328,245 euros Disabilities: 173,859 beneficiaries – 71,143,840 euros Housing Assistance: 885 beneficiaries – 304,531 euros Expatriate Allowance: 6,320 beneficiaries – 222,621 euros Uninsured Hyper. Pension (Law 1296/1982): […]
OPEC: What benefits will be paid on December 31
OPEC announces that on December 31, 2021, the last working day of the month, as usual, the following benefits will be paid: Housing Allowance: Beneficiaries, 274,924 – 33,223,563 euros. Minimum Guaranteed Income: Beneficiaries, 243,005 – 53,328,245 euros Disabilities: Beneficiaries, 173,859 – 71,143,840 euros Housing Assistance: Beneficiaries, 885 – 304,531 euros. Expatriate Allowance: Beneficiaries, 6,320 – […]
EIA crude oil stocks fall 0.91 million barrels versus expected extraction of 1,237 million barrels
Commercial crude inventories in the United States fell 0.910 million barrels in the week ended November 26, a weekly report published by the United States Energy Information Administration (EIA). This was less than the expected draw of 1,273 million barrels. Distillate stocks registered a larger than expected increase of 2.16 million barrels (the forecast was […]
OPEC + sees higher oil supply surpluses from January to March as a result of Omicron
According to a document cited by Reuters, OPEC + it expects global oil supply surpluses to widen to 2 million barrels per day (BPD) in January, to 3.4 million barrels per day in February and then to 3.8 million barrels per day in March. OPEC + reportedly sees the impact that Omicron-related travel restrictions are […]
WTI continues with impressive bounce, moves above $ 72.00
WTI continues to push higher and is now trading around $ 72.00, and has almost reversed 50% of Friday’s decline. Analysts saw last Friday’s fear of the Omicron variant prompted an overblown sell-off. Oil prices continue to push higher, with WTI futures rising more than $ 4.0 on the day and again trading at 72.00%, […]
On November 30, OPEC will pay the benefits
On Tuesday, November 30, 2021, the Welfare Benefits and Social Solidarity Organization (OPEC) will pay the benefits. Specifically, OPEC will pay the following benefits: – Child allowance: Beneficiaries 820,486 – 179,800,000 euros. – Housing allowance: Beneficiaries 281,450 – 34,200,412 euros. – Minimum Guaranteed Income: Beneficiaries 238,537 – 52,575,463 euros. – Disabilities: Beneficiaries 173,827 – 71,412,487 […]
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 […]
Marginal losses for crude ahead of next week’s OPEC + meeting
Oil fell sharply on Wednesday, with investors on hold after the rise of US crude stocks, as they wait for the “response” of OPEC + to the coordinated release of strategic stocks from various countries. The U.S. Energy Information Administration said Wednesday that U.S. crude stockpiles rose 1 million barrels in the week ended Nov. […]
USD / CAD at eight-week highs near 1.2700, boosted amid broad USD surge after Powell rename
USD / CAD is at eight week highs and is testing 1.2700 amid USD strength after Powell’s renomination. The lack of major Canadian economic events this week means that the pair will be driven by oil, risk appetite and the dynamics of the US dollar. The USD / CAD It flew to fresh eight-week highs […]