OPEC announces that the extraordinary financial support will be paid to the beneficiaries until April 21, 2022, Holy Thursday as follows: – Disability Welfare Allowances: Beneficiaries, 138,515 – 27,703,000 euros – Child Allowance: Beneficiaries, 577,105 – 89,299,308 euros – YYY: Beneficiaries, 223,529 – 46,418,822 euros – Uninsured Seniors of Law 1296/1982: Beneficiaries, 16,401 – 3,280,200 […]
Tag: OPEC
The other ‘war’ between OPEC + and IEA
By Costas Raptis At a time when all eyes are on the “cold war” of Russia and the West (which, of course, is quite warm in terms of the territory of long-suffering Ukraine), a different “cold war” brings the big exporters into conflict with the large oil consumers. In other words, again the West with […]
OPEC tells EU it is impossible to replace possible losses of Russian oil
OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst shocks to oil supplies and that it would be impossible to replace them. OPEC Secretary-General Mohamed Barcido made the remarks in a meeting with EU officials on Monday, according to a transcript of a speech […]
WTI will close for the second consecutive week lower at $96.50
WTI is expected to finish lower for the second week in a row, with traders citing this week’s EIA stock release announcements. WTI is currently trading a bit lower on the day at $96.50 after almost hitting March lows on Thursday. Technical selling after breaking below a long-term pennant could see WTI test $90, but […]
WTI Hits New Multi-Week Lows, Looking for a Test of the $93.50 Level
Oil prices fell on Thursday, reaching new multi-week lows at $95.50, as bears point to a drop towards $90. Early prices should break below the March lows of $93.50. The EIA’s massive oil stock release announcements plus technical selling appear to be weighing on sentiment at the moment. oil prices went down on Thursday, since […]
WTI falls below $100 again on optimism over Russia-Ukraine peace talks
Oil traded with a bearish bias on Friday amid optimism over Russia-Ukraine peace talks and focus on releasing crude oil reserves. WTI fell below $100 a barrel and hit new weekly lows below $98.00, with bears targeting March lows at $93.50. oil prices continued to trade with a bearish bias on Friday, with WTI futures […]
OPEC ‘gets a divorce’ from the International Energy Agency
The Organization of the Petroleum Exporting Countries (OPEC) has said it will stop using International Energy Agency (IEA) data to assess compliance with OPEC member production quotas. According to the Anadolu agency, the decision was made after an extraordinary meeting held via video conference on Thursday. OPEC has agreed to replace the ILO with consulting […]
WTI trades below $100, clings to huge intraday losses
Oil markets continue to trade erratically and with heavy losses on the day after the US SPR release announcement. 1 million BPD will be released over the next six months, keeping pressure on WTI, which is currently trading near $102. OPEC+ agreed to a production increase of 432,000 BPD starting in May, which helped keep […]
OPEC+ agrees to an increase in the production quota of 432,000 bpd, in line with expectations
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to increase oil production quotas by 432,000 barrels per day (bpd) starting in May, as was widely expected by analysts, and as recommended by the group’s Joint Ministerial Monitoring Committee, whose meeting concluded a few minutes ago, Bloomberg reported Thursday. The next OPEC+ […]
WTI bounces back after brief dip below $100
WTI has been volatile on Tuesday and is currently trading at $102.50, near the middle of the $98.50-$107.80 range. Prices have been weighed down by positive headlines from Russia and Ukraine and ongoing concerns about the Chinese lockdown. oil prices have seen several moves on Tuesday. Previous month WTI futures are currently trading at $102.50, […]
