all available information about oil wealth
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Crude oil prices are turning higher… and Brent is near $74 – (Update)
Crude oil prices turned up by more than 1%, at the end of trading today, Monday, March 20, 2023, after a volatile session, amid fears of a global economic recession. And raised risks in the global banking sector fears of a recession that could lead to a decline in demand for fuel and ahead of…
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Aramco signs an agreement to establish the first global center for logistics services in Saudi Arabia
Saudi Aramco signed a new agreement with DHL, the global logistics services company, to establish the first global center for logistics services in the region, in the Kingdom. Today, Monday, March 20 (2023), the popular and integrated Saudi company in the field of energy and chemicals announced the signing of a shareholder agreement to establish…
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Does the Saudi-Iranian agreement support cooperation in the field of energy? (article)
Read in this article • Saudi Arabia plans to invest in Iran’s energy infrastructure • Iran relies heavily on oil and gas as a primary source of income • Investment in Iran can happen quickly when diplomatic relations between the two countries are normalized • Saudi Arabia does not wish to enter into a conflict…
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Crude oil prices are down 2.5%, and Brent is $71
Crude oil prices fell more than 2.5%, during trading today, Monday, for the second consecutive session, amid fears of a global economic recession. And raised risks in the global banking sector fears of a recession that could lead to a decline in demand for fuel and ahead of a possible hike in interest rates by…
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Oil price losses continue.. Saudi Arabia and Algeria warn of market collapse
Oil prices continued their losses for the third day, recording their lowest level in more than a year, on the back of fears of a global economic collapse, in the wake of the bankruptcy of a number of US banks, led by Silicon Valley Bank. The uncertainty in the oil markets – amid US moves…
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Crude oil prices rise by more than 1% … and Brent is near $ 75 – (update)
Crude oil prices rose by more than 1%, at the end of today’s trading, Thursday, March 16 (2023), after 3 sessions of losses, as a result of which they fell to their lowest levels in 15 months. Oil markets calmed somewhat after Swiss regulators threw away a financial lifeline to Credit Suisse, but fears of…
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Mexican Pemex is preparing to get out of the debt crisis in 2023
The debts of the Mexican oil company “Pemex” constitute a heavy burden after the Ministry of Finance stopped paying them, since the second half of (2022), but this year may witness a breakthrough, in light of its benefit from the gains in oil prices. The company is studying the available options for how to pay,…
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French refineries are preparing for the eighth strike round on March 20
French refiners are preparing to take part in the eighth round of strike against the regulation to raise the retirement age, which has been criticized by all trade and professional unions in France. And 4 oil refineries out of 6 working in France announced their readiness to stop working on the day of the eighth…
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Crude oil prices recorded a weekly loss of 13%… and Brent is under $73 – (update)
Crude oil prices fell, at the end of trading today, Friday, March 17 (2023), with fears of an economic recession, to record strong weekly losses of about 13%. Crude prices rose in early trading, supported by Saudi Arabia and Russia’s assurances of their commitment to the OPEC + decision to reduce oil production by two…
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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…