Tag: day
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Oil prices are rising for the third day, and Brent crude is above $80
Oil prices rose, during today’s trading, Thursday, July 13 (2023), to continue to reap gains for the third day in a row, amid hopes for a recovery in demand. This came after US inflation and economic data raised hopes that the Federal Reserve might have fewer hikes in interest rates, with the dollar falling. Oil…
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OPEC + production increases marginally in June .. and Russia cuts 440 thousand barrels per day (survey)
OPEC + oil production rose marginally last June, despite the decline in Russian production as part of Moscow’s pledges to cut production. A recent survey showed that the OPEC + alliance kept its crude oil production almost unchanged in June, amid anticipation of production levels in July, with the implementation of large additional cuts by…
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Energy sources: Saudi Arabia extends oil production cuts by one million barrels per day
Sources revealed that the Kingdom of Saudi Arabia is ready to announce, within a few days, the extension of the voluntary oil production cut by one million barrels per day, in the month of August (2023). And the sources indicated, in exclusive statements to the specialized energy platform, that the step of extending the production…
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Oil prices are falling for the second day, and Brent crude is below $74
Oil prices fell, during trading today, Friday, June 23 (2023), to continue bleeding losses for the second session in a row, amid fears of a global recession that may limit demand. Oil markets are heading for a weekly decline of more than 3%, with a higher-than-expected rise in interest rates in Britain and warnings of…
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Indian Oil Minister: We import one million barrels of oil per day from Iraq…and we are planning for more
Indian Oil Minister Hardeep Singh Puri confirmed that his country is seeking to increase its imports from Iraq, in order to raise the total Indian oil supplies, which currently amount to about one billion barrels. New Delhi places the highest priority on a multidimensional and comprehensive partnership with Baghdad. Puri headed his country’s delegation to…
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10 tenders to support oil production in Kuwait to 3 million barrels per day
Aiming to boost Kuwait’s oil production to 3 million barrels per day by 2025, up from 2.8 million barrels per day now, the Gulf state’s oil sector is preparing bids worth more than $700 million. Today, Sunday, June 18 (2023), the CEO of the Kuwait Oil Company, Ahmed Jaber Al-Aidan, announced his country’s commitment to…
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A report expects an increase in oil prices and a decrease in supply by 2 million barrels per day
A recent report sheds light on the developments in oil prices, according to global oil stocks that have not witnessed a decline due to the abundance of supply in the markets. The report – issued by the Swiss investment bank “UBS” – confirmed that although demand for oil remains strong, supply from several locations witnessed…
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OPEC + production declines in May .. and Russia cuts 410 thousand barrels per day (survey)
OPEC + oil production declined, during May (2023), by about 670 thousand barrels per day on a monthly basis, supported by the voluntary cuts announced by Saudi Arabia, Russia and a number of coalition countries last April, which raised production cuts to 3.6 million barrels per day. A recent survey showed that OPEC and its…
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A report reveals a decline in Russian oil production by 300,000 barrels per day
Participants in global markets seek to verify Moscow’s commitment to reducing Russian oil production to 9.5 million barrels per day, in the period from March 2023 until the end of the year, as part of a group of voluntary production cuts for several member states of the OPEC + alliance, with the aim of achieving…
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Gasoline prices in America are down 26% before the Memorial Day holiday
Gasoline prices in America continue to decline year-on-year, as global crude oil prices continue to decline, amid economic uncertainty and oversupply. A report issued by the US Energy Information Administration, today, Thursday, May 25, 2023, showed that the average retail price of regular gasoline – adjusted for inflation – in the United States was $…
