Oil traded higher on Monday after reports that OPEC and its allies (OPEC +) could re-evaluate their plans for gradual output growth if the US and other countries release quantities from their strategies. inventories. New York’s main contract, light sweet crude for delivery in January, gained 81 cents, or 1.1%, to close at $ 76.75 […]
Tag: OPEC
OPEC SEC: We must be very careful with the increase in production – Signs of surplus in the market
OPEC “sees” signs of oil surplus in the market from next month, with the general secretary of the cartel advising its members and their allies to be “very, very careful” regarding the review of production policy in the regular monthly meetings their. It is recalled that the Organization of the Petroleum Exporting Countries and its […]
WTI Drops Below $ 80.00 As Pressures Increase On The White House To Take Advantage Of SPR Oil Reserves
-637725944240942654.png "WTI Drops Below $ 80.00 As Pressures Increase On The White House To Take Advantage Of SPR Oil Reserves")
Crude oil falls nearly 1% as Democrats pressure the US president to act on high gasoline prices. OPEC + maintains its crude oil production of 400,000 barrels per day, despite pressure from the United States. WTI Technical Outlook: A death cross on the 4-hour chart opens the door for further losses for crude prices. During […]
Saudi Arabia – Emirates do not retreat to the US: No need to increase oil production
Saudi Arabia and the United Arab Emirates have sent “signals” that the OPEC + cartel will continue to resist US pressure to increase its oil production and move very cautiously in this area. US President Joe Biden, worried about the seven-year high in gasoline prices, which has significantly pushed up inflation, has called on the […]
OPEC: Reduces its forecast for global oil demand for the fourth quarter of 2021
OPEC on Thursday cut its forecast for global oil demand for the fourth quarter of 2021 due to high energy prices, although the agency insists on its forecast for strong growth above pre-pandemic rates in 2022. OPEC said in its monthly report that it expects average oil demand to reach 99.49 million barrels per day […]
OPEC + will keep the policy of gradually increasing production of 400,000 bpd unchanged
The Iraqi Oil Minister, Ihsan Abdul-Jabbar Ismail, said on Thursday that the group of the Organization of the Petroleum Exporting Countries and its allies (OPEC +) is expected to keep unchanged its policy of gradually increasing oil production from 400,000 barrels a day at the December meeting, Reuters reported. . The minister added that they […]
K. Hatzidakis: In full operation o Unique Citizen Service Number-1155
“Everything is changing in the service of the citizens by the Ministry of Labor and Social Affairs, EFKA, OAED and OPEC”. This was noted today by the Minister of Labor and Social Affairs, Kostis Hatzidakis, presenting the operation of the Unified Service Number 1555. “Insured people, retirees and employees will no longer need and should […]
WTI advances considerably above $ 82.00 per STEO report showing oversupply in early 2022
WTI bounces away from lows of $ 80,900, gains of $ 1.50. The EIA cut the forecast for oil demand for 2022. WTI Technical Outlook: Bullish pennant on the 4-hour chart, $ 86.00 targets. The Western Texas Intermediate, also known as WTI, advanced in the American session, rising almost 2%, trading at $ 82.93 per […]
UAE: Without OPEC + oil prices would have doubled or tripled
The United Arab Emirates said oil prices would be even higher today without OPEC +, signaling that the agency would continue to resist US pressure to increase production. “Fortunately we have OPEC +,” UAE Energy Minister Al-Mazrouei told the Africa Oil Week conference in Dubai on Monday, according to Bloomberg. OPEC + has prevented “having […]
WTI rises past $ 82.00, to highs since Thursday
Oil prices gained traction for the second consecutive session on Monday. Prospects for increased energy demand continued to support the rebound. The price of WTI crude oil extended Friday’s rise and gained momentum. It is climbing for the second session in a row on Monday. The momentum pushed spot prices to two-day highs around the […]