Category: Petroleum Prices
-
Crude oil prices rise for the fourth session, recording the highest level since January – (Update)
Crude oil prices rose at the end of trading today, Tuesday, April 4 (2023), to continue to reap gains for the fourth consecutive session, supported by OPEC + moves aimed at stabilizing the markets. And 9 of the countries of the OPEC + coalition, led by Saudi Arabia, decided to make voluntary production cuts of…
-
Crude oil prices fell for the first time in 5 sessions… and Brent near $85 – (Update)
Crude oil prices witnessed a difference at the end of the day, Wednesday, April 5 (2023); US crude fell after 4 sessions of gains, pressured by fears of an economic recession that might limit demand, while Brent crude rose near $85 a barrel. Crude prices rose, supported by lower US oil inventories and OPEC’s announcement…
-
Crude oil prices rise and record gains for the third week in a row – (Update)
Crude oil prices rose at the end of trading today, Thursday, April 6 (2023), recording a third consecutive weekly gain. Fears of a supply shortage in light of the production cuts targeted by the OPEC + alliance and the decline in US oil stocks overshadowed concerns about the decline in global economic growth. Baker Hughes…
-
Crude oil prices are falling… and Brent is below $85
Crude oil prices fell, during today’s trading, Thursday, April 6 (2023), for the second consecutive session; US economic data raised concerns about a possible global recession and reduced demand. Prices are heading towards achieving weekly gains after OPEC + announced more production cuts and the decline in US oil stocks. Crude oil prices rose for…
-
Saudi Aramco raises its official selling oil prices to Asia in May
Saudi Aramco announced the official prices for selling shipments of Arab Light crude to its customers in Asia, Europe and the United States, during the coming month of May (2023). The company decided to raise the official Saudi oil selling prices for Arab Light crude to Asia by 30 US cents to $2.80 per barrel,…
-
Crude oil prices are marginally higher.. and Brent is above $85
Crude oil prices rose marginally during trading today, Wednesday, April 5 (2023), supported by expectations of a decline in US crude inventories, as well as the latest production cut targets set by the OPEC + alliance. The rise in prices for the fifth session in a row comes after the decision of 9 of the…
-
India abolishes exceptional taxes on oil as global prices fall
It seems that the recent decline in oil prices has prompted India to abandon the exceptional taxes imposed on crude producers, and has also made adjustments to taxes on some types of fuel. New Delhi had previously pledged to review the tax rate linked to fluctuations in oil prices in global markets, according to what…
-
Crude oil prices rise for the fourth session, and Brent is above $85
Crude oil prices rose during trading today, Tuesday, April 4 (2023), to continue to reap gains for the fourth consecutive session, supported by OPEC + moves aimed at stabilizing the markets. And 9 of the countries of the OPEC + coalition, led by Saudi Arabia, decided to make voluntary production cuts of 1.66 million barrels…
-
OAPEC Secretary General warns of new risks in the oil market
OAPEC Secretary General, Engineer Jamal Issa Al-Loughani, warned of new risks facing the global oil market, which is witnessing uncertainty after the re-introduction of the “No OPEC” bill. Today, Monday, April 3 (2023), the Secretary-General of the Organization of Arab Petroleum Exporting Countries (OAPEC) stated that some US senators are trying to put pressure on…
-
Crude oil prices rise 2%… and record monthly and quarterly losses – (Update)
Crude oil prices rose by about 2%, at the end of trading today, Friday, March 31 (2023), with fears of supply shortages, but they recorded monthly and quarterly losses. The markets had started Asian trading on the decline with the return of fears of a global recession affecting demand. Baker Hughes data showed that the…
