all available information about oil wealth
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The global price of a barrel of oil falls and records weekly losses – (Update)
The global price of a barrel of oil decreased by more than 1.5%, at the close of trading today, Friday, January 27 (2023), due to profit-taking and an increase in Russian exports despite Western sanctions. Oil prices rose earlier in the trading, supported by stronger-than-expected US economic growth and hopes for a recovery in Chinese…
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The global price of a barrel of oil has risen… and Brent crude is near $88
The price of a barrel of oil rose globally, during today’s trading, Friday, January 27 (2023), amid expectations of an increase in demand. This comes supported by stronger-than-expected US economic growth and hopes for a recovery in Chinese demand, with coronavirus cases and deaths declining from peak levels last month. The global price of a…
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An expected jump in Iranian oil production from 750 wells
Iranian oil received a new impetus as part of government efforts to boost production, in order to reach the target of 5.7 million barrels per day. Iran’s state oil company has awarded contracts worth $500 million to local companies to revive low-production oil wells in the country, according to the Iranian news agency Mehr. This…
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The largest US refineries are regaining their activity, and the rest are still suffering (report)
The largest US refineries are preparing to return to normal activity after the wave of severe storms that disrupted their production subsided over the past weeks, but other refineries are still suffering, prompting Canadian crude to search for new buyers in Asia. The Port Arthur refinery in Texas is preparing to announce the regularity of…
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Total Energy is accused of “greenwashing”…and the French company is responding
It appears that accusations of “greenwashing” will continue to haunt France’s Total Energy, which has repeatedly asserted that it is on track to achieve carbon neutrality by 2050. The giant energy company has been accused of “greenwashing” since December 2021, as part of an investigation into “misleading commercial practices” in the field of the environment,…
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Shell is considering withdrawing from retail activities in 3 major European countries
Shell – one of the major international oil companies – is heading to exit retail activities in 3 major European countries, due to the repercussions of the energy crisis that has extended in the old continent since last year. The Anglo-Dutch company announced it is considering withdrawing from its home retail business in the United…
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Russian diesel will not be spared from the price ceiling.. and Europe is studying a maximum of $100
The European Union is close to banning Russian oil derivatives transported by sea, particularly Russian diesel, a step that could lead to a scarcity of global supplies and an increase in prices. It is likely that the impact of the ban on Russian oil derivatives will become more severe than the ban on Russian oil…
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The global price of a barrel of oil has risen… and Brent crude is above $86
The price of a barrel of oil rose globally, during today’s trading, Thursday, January 26, 2023, after US crude stocks jumped less than expected. Investors are looking forward to more clarity on supply drivers, including the OPEC+ meeting and the imminent EU ban on Russian oil derivatives. The global price of a barrel of oil…
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Fuel supplies in France are disrupted by the oil workers’ strike
Fuel supplies in France are experiencing a new disruption, after oil workers went on strike today, Thursday 26 January; Protesting the country’s pension reform. The strike continues for 48 hours at oil refineries in France, at the invitation of the oil branch of the General Confederation of Labor, in preparation for the second day of…
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The global price of a barrel of oil is witnessing a volatile session… and Brent is above $86 – (Update)
The global price of a barrel of oil witnessed a volatile session at the end of trading today, Wednesday, January 25 (2023), with the release of US inventories data, and amid hopes for increased demand. After prices fell by more than 1% during trading, US crude ended today’s session marginally higher, while Brent fell slightly.…