all available information about oil wealth
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Oil prices rise by more than 1.5%.. Brent crude is above $85 – (Update)
Oil prices rose by more than 1.5% for the third consecutive session at the end of trading today, Wednesday, February 8 (2023), with optimism about the demand for crude and the decline of the US dollar. This comes despite the rise in oil stocks in the United States for the seventh week in a row,…
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Oil prices are rising… and Brent crude is near $84
Oil prices rose marginally during trading today, Wednesday, February 8 (2023), amid limited movements in the price of the US dollar. This comes as investors await more data on US oil inventories to get more clues on demand trends. Oil prices today By 07:31 a.m. GMT (10:31 a.m. Mecca time), the price of benchmark Brent…
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Moscow responds to developments in the ceiling of Russian oil prices
Moscow described the “waivers” of the Russian oil price cap as tangible evidence of continued demand for Russian supplies. On Tuesday, February 7 (2023), the European Commission published an explanation of the decision to impose a price cap on Russian oil products, in which it specified the cases to which the price ceiling does not…
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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…