Oil has risen above $ 80 again, but trading has been calmer on Friday. Traders await a response from the United States after OPEC + ignored calls for a further increase in production. After significant volatility in recent days, US oil prices are enjoying calmer trading on the last day of the week, having ignored […]
Tag: OPEC
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: One-time financial assistance, amounting to 6,000 euros, to people injured in the fires of July / August 2021
A one-time financial aid of 6,000 euros to people who were injured in the fires of July / August 2021 was announced by the Organization for Welfare Benefits and Social Solidarity (OPEC). In particular, as stated in a statement of the Organization, in the context of policies to support vulnerable groups of the population, OPEC […]
WTI down but within recent ranges ahead of key OPEC + meeting
WTI has fallen back to $ 83.00 in recent trade, but remains within the approximate $ 81.00-$ 85.00 range of the past few weeks. OPEC + is expected not to deviate from plans to increase production at a rate of 400,000 bdp / month. Most analysts remain optimistic about the short-term outlook for oil with […]
USD / CAD returns to 1.2400 after a brief test of the 21 DMA
USD / CAD returned to the 1.2400 level after briefly testing its 21 DMA above 1.2420. This week, the pair focuses on the OPEC + and Fed meetings, as well as US and Canadian labor data. The USD / CAD it is currently flirting with the 1.2400 level, up around 0.2% on the day, amid […]
WTI extends rally for seventh day in a row, rises above $ 81.50
The Western Texas Intermediate (WTI) increases as the winter season approaches, the demand for energy products increases. The OPEC + decision was based on the belief that oil demand will decline once other energy markets stabilize. The US Baker Hughes rig count for the week ending October 15 increased to 543 from the estimate. El […]
WTI extends correction from multi-year highs and retreats below $ 76.00 level
WTI receives some continuation sales for the second day in a row on Thursday. An unexpected surge in US stocks turns out to be a key factor motivating profit-taking. The crude WTI is extending the retracement drop of the previous day, from the highest level since November 2014 around $ 79.80, and witness some continuation […]
WTI goes up for the sixth day in a row, looking at $ 80.00
West Texas Intermediate hit a seven-year high at $ 79.23. The current energy crisis keeps WTI’s bullish bias unchanged. WTI: A breakout above $ 80.00 could pave the way to $ 90.00, as shown on the weekly chart. El West Texas Intermediate (WTI), the benchmark US oil index is advancing for the fifth day in […]
WTI hits seven-year highs above $ 78.00 after OPEC + deal
OPEC + left the agreement of 400,000 barrels per day unchanged, WTI up 3%. Western Texas Intermediate (WTI) posted a seven-year high at $ 78.20. From a technical perspective, the bullish bias remains. At the beginning of the European session, oil prices were within a range of $ 75.31 and $ 76.00. However, an announcement […]
WTI rebounds firmly towards $ 76 while OPEC + is expected to keep oil production policy unchanged
OPEC and its allies (OPEC +) are likely to maintain their current oil production policy of adding 400,000 barrels per day (bpd) to the market in November.as reported by Reuters citing three OPEC + sources. This occurs before the on-line meeting of the alliance at 13:00 GMT amid speculation of a further increase in supply […]