Tag: oil
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Oil prices continue to rise.. Brent crude is near $83
Oil prices continued to rise today, Tuesday, July 25 (2023), amid indications of scarce supplies, and pledges by the Chinese authorities to support the economy to greater degrees, which contributed to raising sentiment in the markets. Crude prices had achieved a significant rise for the first time in weeks, as it exceeded the barrier of…
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Revenues from Saudi oil exports declined by 37.7% in May
Revenues from Saudi oil exports declined, during last May, on an annual basis, with the decline in average oil prices compared to the same period in 2022, and the Kingdom’s start implementing the voluntary production cut of 500,000 barrels per day. Official data – seen by the specialized energy platform – showed that Saudi Arabia’s…
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Oil prices rise 2%, recording the highest level in 3 months – (Update)
Oil prices rose by more than 2% at the close of trading today, Monday, July 24 (2023), to record their highest levels in 3 months, after a series of volatile sessions during the past week. Traders expect further rate hikes from US and European central banks, but tight supplies and hopes for Chinese stimulus have…
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Oil prices are turning higher… and Brent crude is near $82 (update)
Oil prices turned higher during trading today, Monday, July 24 (2023), as a shortage of supplies overshadowed fears of an economic recession. Traders expect further rate hikes from US and European central banks, but tight supplies and hopes for Chinese stimulus have supported Brent above $80 a barrel. Markets are assessing the prospects for economic…
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Oil prices fall 2%… and Brent crude is below $79 – (update)
Oil prices fell by almost 2% at the close of trading today, Monday, July 17 (2023), to continue bleeding losses for the second session in a row, amid fears of declining demand. Chinese economic data showed slowing growth in the second quarter; What raised concern about demand in the world’s second largest oil consumer, with…
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Expectations of a rise in oil prices above $ 90 .. A survey of the “energy”
Most of the readers of the specialized energy platform expect oil prices to rise above the $90 per barrel barrier in the coming weeks, supported by the OPEC+ countries’ moves to cut production. The markets are facing a shortage of supplies, during the coming period, after Saudi Arabia announced the extension of the voluntary cut…
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Only one scenario raises oil prices to $100
Anas Al-Hajji, editorial advisor for the specialized energy platform, energy economics expert, said that oil prices may rise to the $100 barrier, but this will only happen in one case. Al-Hajji explained, in an episode of his program, “Energy humanitiesHe presented it in the Twitter spaces, entitled “A preliminary look at the oil markets in…
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Oil prices rise 2%, recording weekly gains – (Update)
Oil prices rose by 2% at the end of trading today, Friday, July 21 (2023), to achieve gains for the fourth consecutive week, amid hopes for a recovery in demand. This comes at a time when the markets are assessing the prospects for economic stimulus in China after weak economic data and the decline in…
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Iran participates in the development of 8 oil refineries on 3 continents
The government of Iranian President Ibrahim Raisi has placed the development of oil refineries in a number of friendly countries at the top of its strategy to increase oil exports and circumvent the US sanctions imposed on Tehran. With the passing of two years of Raisi’s government, the strategy has begun to bear fruit, as…
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Oil prices rise 1%, and Brent crude is above $80
Oil prices rose, during trading today, Friday, July 21 (2023), to continue to reap gains for the second day in a row, amid hopes for a recovery in demand. This comes at a time when the markets are assessing the prospects for economic stimulus in China after weak economic data and the decline in oil…
