all available information about oil wealth
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Crude oil prices are down 2%… and Brent is below $85 – (update)
Crude oil prices fell by more than 2%, at the end of trading today, Monday, April 17 (2023), amid fears of a global economic recession that may affect demand. Markets had started the morning trading on the upside, supported by OPEC + plans to cut more production, and investors looked to Chinese economic data for…
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Is oil production in and south of Sudan affected by the political conflict?
Oil production in Sudan and its south has become a new concern in global markets, in light of the intensification of political conflict between military leaders for the third day in a row, amid fears of a civil war. Oil production in Sudan – the smallest producer in the OPEC + alliance – is estimated…
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Saudi oil export revenues fell by $2.8 billion in February
Saudi oil export revenues declined, during last February, on an annual basis, with the decline in average oil prices compared to the same period in 2022. And official data – seen by the specialized energy platform – showed that Saudi Arabia’s oil revenues decreased, in February, by 11.7%, compared to the same period in 2022.…
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Crude oil prices are rising… and Brent is above $86
Crude oil prices rose marginally, during today’s trading, Monday, April 17 (2023), amid expectations of an increase in demand and a decline in supplies. This comes with the support of OPEC + plans to cut more production, and investors looked forward to Chinese economic data in search of signs of recovery in demand in the…
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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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Crude oil prices rise by more than 2%, the highest level since January – (update)
Crude oil prices rose by more than 2% at the end of trading today, Tuesday, April 11 (2023), after a volatile session, to record the highest level since January 2023. This comes after Chinese inflation data indicated continued weak demand, but the dollar fell and expectations that the Federal Reserve will stop tightening its policy…
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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,…
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The Energy Information Administration raises oil price forecasts in 2023 and 2024
The US Energy Information Administration raised its forecast for oil prices in 2023 and 2024, and also strengthened its estimates for US crude production. And the Short-Term Energy Outlook report for April 2023 – issued today, Tuesday (April 11), showed that the average price of West Texas Intermediate crude oil may reach $ 79.24 a…
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Pakistan’s fuel imports jump to two billion dollars in March
The value of Pakistan’s fuel imports increased, in March (2023), to record more than two billion dollars, with a growth rate of 9% on a monthly level. This data, issued by the Pakistan Statistics Bureau, indicates an increase in the Asian country’s dependence on fuel imports, according to The Express Tribune newspaper, today, Saturday, April…
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Crude oil prices are gaining for the fourth week in a row – (Update)
Crude oil prices rose, at the end of trading today, Friday, April 14 (2023), amid expectations of a recovery in demand in China with declining supplies, to achieve weekly gains for the fourth time in a row. The International Energy Agency expected global oil demand to grow by two million barrels per day in 2023…