all available information about oil wealth
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Oil prices jump 4%… Brent crude is above $83 – (Update)
Global oil prices continued to consolidate their gains by more than 4% at the end of the day, Tuesday, February 7 (2023), supported by optimism about demand in China. Crude prices also received support from concerns about the closure of a major export terminal in Turkey after the country was hit by a devastating earthquake…
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The Energy Information Administration raises oil price forecasts in 2023
The US Energy Information Administration raised its forecast for oil prices in 2023, and also strengthened its estimates for US crude production. And the Short-Term Energy Outlook report for February 2023 – issued today, Tuesday (February 7) – showed that the average price of West Texas Intermediate crude oil may reach $ 77.84 per barrel…
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Fuel supplies in France stop again. Electricity production drops 4%
Fuel shipments were halted in France on the third day of a national strike against pension reform, reigniting fears of a supply shortage, as the strike at refineries continued for 48 hours. The French energy company, Total Energy, said that shipments of oil products from French sites were halted due to the strike today, Tuesday…
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The price of a barrel of Kuwaiti oil confuses the new budget of the Petroleum Corporation
The budget of the Kuwait Petroleum Corporation may witness a change during the new fiscal year (2023-2024), after the decline in the price of a Kuwaiti oil barrel in the new budget. Sources said that the budget of the Kuwait Petroleum Corporation and its subsidiaries for the next fiscal year, which is scheduled to begin…
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Russian oil exports to India outperform Saudi Arabia and Iraq
India continues its record purchases of Russian oil, taking advantage of lower prices due to Western sanctions; In January 2023, it jumped to 1.27 million barrels per day, according to “Vortexa” shipping analytics. Today, Monday, February 6, 2023, the Financial Express newspaper stated that India’s appetite for Russian oil has reached unprecedented rates, and Russian…
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Will oil prices rise to $180?.. Omani Energy Minister answers (video)
Omani Energy Minister Salem Al-Awfi said that oil prices are difficult to determine accurately. Even the expectations of international financial institutions differ from month to month. Today, Monday, February 6, 2023, Al-Awfi said that the production of oil and condensate exceeds 1.1 million barrels per day, with the possibility of increasing production quickly without delay,…
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The closure of the largest oil refinery in Pakistan .. and the industry is on the verge of collapse
The largest oil refinery in Pakistan closed its doors for about a week. Due to the unavailability of crude oil, in light of threats of an imminent collapse of the industry. The Kenergico refinery, formerly known as Beco Petroleum, has been shut down and production will resume on February 10; In line with the schedule…
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The global price of a barrel of oil rises 1% and records monthly losses – (Update)
The price of a barrel of oil rose globally by more than 1% at the end of trading today, Tuesday, January 31, amid anticipation of the position of central banks regarding raising interest rates, but it recorded monthly losses. This comes with expectations of a recovery in demand from China and despite fears of further…
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Fuel prices in Qatar for the month of February 2023… a new increase for gasoline
Fuel prices in Qatar for February (2023) are set to witness a slight increase in gasoline prices, after being fixed during January (2023) prices. Today, Tuesday, January 31, Qatar Energy Company announced new gasoline and diesel prices in the country, which are scheduled to start working tomorrow, Wednesday, February 1 (2023), according to what the…
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India’s refineries buy Russian oil in Emirati dirhams instead of dollars
Indian refineries have started exchanging the UAE dirham for US dollars, to pay for most of the quantities of Russian oil purchased, depending on trading companies headquartered in Dubai, United Arab Emirates. Indian refiners and traders fear that they will not be able to continue settling trades in dollars, especially if the price of Russian…