all available information about oil wealth
-
Oman Oil: We focus on fossil fuels…and the uncertainty surrounds hydrogen projects
Petroleum Development Oman leads the energy sector in the Sultanate. As it is responsible for producing the largest percentage of crude oil and natural gas, its concession area covers the equivalent of a third of the country’s geographical area, and it owns about 205 producing oil fields and 64 fields for natural gas production. In…
-
Crude oil prices deepen their losses by more than 4%… and Brent is below $73 – (update)
Crude oil prices deepened their losses to more than 4%, at the end of trading today, Wednesday, May 3 (2023), to continue bleeding losses for the third consecutive session. This comes amid investor concerns about a global economic recession, after the Federal Reserve raised interest rates by a quarter of a percentage point. Crude oil…
-
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…
-
Crude oil prices fall in a volatile session… and Brent is above $72 – (Update)
Crude oil prices varied, at the end of trading today, Thursday, May 4 (2023), as US West Texas crude fell, while Brent crude rose above $ 72, in an attempt to compensate for losses that amounted to more than 9% during the previous 3 sessions. This comes as demand concerns among major consumers outweighed signs…
-
Saudi Aramco lowers its oil selling prices to Asia in June
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 month of June 2023. The company decided to lower the official Saudi oil selling prices for Arab Light crude to Asia by 25 US cents to $2.55 per barrel, above…
-
Crude oil prices jump by more than 4% … and record weekly losses – (update)
Oil prices extended their gains to more than 4%, at the end of trading today, Friday, May 5 (2023), but recorded weekly losses for the third time in a row. This comes after the markets witnessed a significant decline amid fears of the economic impact of higher interest rates and slowing Chinese demand. Oil drilling…
-
Crude oil prices rise 1%, and Brent is above $73
Crude oil prices rose more than 1% during trading today, Friday, May 5 (2023), but they are preparing to record weekly losses for the third time in a row. This comes after the markets witnessed a significant drop amid fears of a weak US economy and slowing Chinese demand. Crude oil prices today By 06:51…
-
A report expects oil prices to rise to $105.. When will this happen?
Oil prices witnessed another decline over the past weeks, as they are currently trading below $75 per barrel. This came in the wake of the recent rise that pushed Brent crude prices above $85 a barrel, following the sudden voluntary production cuts announced by members of the OPEC+ alliance in early April 2023, which will…
-
The increase in the operation of new Russian oil wells in the first quarter of 2023
The operation of new Russian oil wells witnessed a noticeable increase in the first quarter of 2023, despite the voluntary reduction in production announced by Moscow until the end of the year. Russian oil companies began operating 2,001 new oil wells in the first three months of the year, up 10 percent on an annual…
-
Conflicting news about an expected setback for Russian oil and coal importers in India
Today, Thursday, May 4 (2023), it was reported that negotiations between Moscow and New Delhi on a bilateral trade settlement in Indian rupees are on hold, which constitutes a major setback for Russian oil and coal importers, but Russian officials quickly dispelled these allegations. They denied the allegations of suspending the rupee trade talks, describing…