Tag: due
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Oil prices are rising due to the “voluntary cut.” Brent crude is above $78
Oil prices rose again at the beginning of trading today, Tuesday, July 11 (2023), to compensate for some of the losses they incurred during the end of yesterday’s trading, with traders focusing on reducing production by Saudi Arabia and Russia, in addition to the weakness of the dollar. The reduction in oil production by the…
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Postponing the review of fuel prices in India due to the Saudi surprise
Suggestions for postponing the review of fuel prices in India began to emerge after Saudi Arabia’s decision to voluntarily reduce its production by one million barrels of oil per day for a month starting on July 1, after the ministerial meeting of the “OPEC +” alliance, yesterday, Sunday, June 4, 2023, and the price increase…
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Nigerian oil exports are looking for buyers… 20 shipments suspended due to France’s strikes
Nigerian oil exports are still facing the repercussions of France’s two-month-old strikes against the regulation to raise the retirement age, without response from the French government. France’s strikes coincide with the seasonal maintenance season for refineries in most European countries, which contributed to increasing pressure on Nigeria’s oil exports, according to Bloomberg. Nigerian oil exports…
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The closure of one of the largest oil fields in the North Sea due to exceptional taxes
Canada’s Canadian Natural Resources International has decided to shut down the Ninian field, one of the largest oil fields in the North Sea, given difficult market conditions, due to high natural gas production costs, unexpected taxes and lower UK business prospects. The company is working to “accelerate the abandonment” of its two remaining Ninian South…
