Tag: price
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Sources reveal the fuel price plan in Egypt before an official (private) meeting
The Automatic Pricing Committee for Oil Derivatives is preparing for a meeting to set fuel prices in Egypt, during the first week of next July (2023), a meeting that comes after a few weeks of moving diesel prices alone, which raises speculation about trends. The government towards moving prices again, or not. Informed sources revealed,…
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The price of a barrel of Algerian oil is down 21% in 3 months
A recent report revealed that the price of a barrel of Algerian oil declined by about 21% during the first quarter of this year (2023), affected by fears of a global economic recession that may affect demand. A report by the Organization of Arab Petroleum Exporting Countries (OAPEC) on the global oil situation in the…
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Lowering oil price expectations to $95 at this date (report)
Swiss investment bank UBS has lowered its oil price forecasts from the second half of 2023 to the first quarter of next year (2024). The investment bank expected more withdrawals from the strategic oil reserves in light of the additional voluntary production cut announced by several OPEC+ countries, with increasing demand during the summer. The…
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Energy Information Administration cuts oil price forecasts to below $80
The US Energy Information Administration cut its oil price forecasts for 2023 and 2024 by more than 7%, and cut its estimates for crude production in the United States. According to the Short-Term Energy Outlook report for May 2023, issued today, Tuesday, May 9, 2023, the average price of West Texas Intermediate crude oil is…
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Saudi Aramco share price jumps 2%.. and two experts expect its rise to continue
Aramco’s share price jumped higher today, Sunday, May 7 (2023), achieving gains of 2%, with the approaching date of announcing the company’s quarterly business results. The Saudi oil giant is preparing to announce its business results for the first quarter of this year (2023), on Tuesday, May 9, which is expected to witness strong quarterly…
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“Energy” re-publishes the oil price forecasts of 10 experts. The vision will be achieved after 4 months
In light of the worsening economic conditions, geopolitical events, and features of oil demand at the end of 2022, forecasting and analyzing oil prices for the year 2023 was a daunting task for analysts and experts. This is due to the difficult scene in the oil markets, as economic crises, recession fears, and challenges facing…
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The price of Iranian oil to Asia rises in May, following in the footsteps of Saudi Arabia
Next May, the price of a barrel of Iranian oil destined for Asia will increase by about $0.3 compared to the current month of April, with the same value by which Saudi Aramco increased its shipments during the next month. And the National Iranian Oil Company announced the official selling prices for shipments for the…
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Russian oil is flowing to India and China above the price ceiling levels
India and China turned a blind eye to the US warnings, as they continue to import Russian oil at prices that exceed the ceiling set by Western countries in an attempt to reduce Moscow’s energy revenues. Beijing and New Delhi captured the vast majority of Moscow’s oil exports in April (so far) at prices above…
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India declares its position on buying Russian oil above the price ceiling
India has defended its Russian oil imports, which have peaked recently, stressing that it faces its biggest economic threat. New Delhi confirmed the possibility of buying Russian crude at a level close to or exceeding the price ceiling imposed by the West in the aftermath of Moscow’s war on Ukraine, according to a report published…
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The IMF cuts oil price forecasts by $23 in 2023
The International Monetary Fund (IMF) expressed a negative view regarding the expectations of global oil prices, suggesting that they will decrease by more than 24% during the current year (2023), with the deterioration of global economic growth prospects. According to the World Economic Outlook 2023 report, issued by the Monetary Fund today, Tuesday (April 11,…