Tag: day
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A report reveals a decline in Russian oil production by 300,000 barrels per day
Participants in global markets seek to verify Moscow’s commitment to reducing Russian oil production to 9.5 million barrels per day, in the period from March 2023 until the end of the year, as part of a group of voluntary production cuts for several member states of the OPEC + alliance, with the aim of achieving…
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Gasoline prices in America are down 26% before the Memorial Day holiday
Gasoline prices in America continue to decline year-on-year, as global crude oil prices continue to decline, amid economic uncertainty and oversupply. A report issued by the US Energy Information Administration, today, Thursday, May 25, 2023, showed that the average retail price of regular gasoline – adjusted for inflation – in the United States was $…
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Crude oil prices are rising for the second day, and Brent is above $75 a barrel
Crude oil prices rose for the second day in a row, supported by the US’s announcement of its plans to buy huge quantities of crude oil to fill its strategic reserves. At the same time, a batch of weaker-than-expected Chinese data indicated that the soft economy failed to lower prices, as the market focused on…
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Equinor aims to increase its production outside Norway to 400,000 barrels of oil equivalent per day
The Norwegian company Equinor is diversifying its portfolio of oil and gas projects outside Norway as part of plans to increase production by 2030. The global leader in the oil and gas sector has made the final decision to invest in a new $9 billion project in Brazil, after years of consideration and appreciation. The…
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Agency: Iraqi oil exports will not exceed 3.3 million barrels per day in May
Iraqi oil exports in May 2023 are expected to remain close to last month’s levels, given the continued suspension of production in the Kurdistan Region of Iraq and exports via Turkey. Additional Iraqi oil export capacity from the southern export ports in the Persian Gulf is “limited,” a senior Iraqi oil official told S&P Global…
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Canadian oil prices rose after 320,000 barrels per day of production stopped
Canadian oil prices witnessed a significant increase, after the production of about 320 thousand barrels per day, or 3.7% of the country’s production, was halted due to the ongoing forest fires in Alberta 5 days ago. The fires also restricted natural gas processing operations to approximately 450,000 cubic feet per day, according to information seen…
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Crude oil prices rise for the second day and record weekly losses – (Update)
Crude oil prices rose by about 3%, at the end of trading today, Friday, April 28 (2023), for the second consecutive session, but recorded losses for the second week in a row. Disappointing US economic data and uncertainty about further interest rate hikes affected the outlook for oil demand, sending prices below $80 a barrel.…
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The Sultanate of Oman’s production of oil and condensate exceeds one million barrels per day in February
The Sultanate of Oman’s production of crude oil and condensate exceeded the barrier of one million barrels per day, during last February. Recent data showed that the Sultanate of Oman’s production of crude oil and condensate, during the month of February, amounted to 29.7 million barrels, at a rate of 1.06 million barrels per day.…
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Crude oil prices rise for the second day, and Brent is above $75
Crude oil prices rose, during trading today, Friday, March 17 (2023), for the second session in a row, in an attempt to regain some gains after the losses they suffered at the beginning of the week. The rise was supported by Saudi Arabia and Russia’s assurances of their commitment to the OPEC + decision to…
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Crude oil prices are falling for the second day, and Brent is below $80 a barrel
Crude oil prices continued to decline, today, Tuesday, March 14 (2023), for the second day in a row, as Brent crude fell by 1%, after declining at the close of trading yesterday, Monday, by more than 2.5%, after announcing the collapse of the “Silicon Valley” bank. American. The collapse of the “Silicon Valley” Bank left…