Tag: oil
-
Crude oil prices are rising… and Brent is near $78
Crude oil prices rose slightly, during today’s trading, Thursday, April 27 (2023), in an attempt to reduce the huge losses incurred during the previous two sessions. The major decline in the oil markets was driven by fears of a US recession and an increase in Russian oil exports. This reduced the impact of OPEC+ production…
-
Oil revenues in Ghana achieve the highest level in 2022
Ghana’s oil revenues rose to an all-time high in 2022, with the government taking in a total of $1.43 billion. However, oil production in the country declined by 6% on an annual basis to 51.76 million barrels last year, or about 142 thousand barrels per day, according to what was reported by the Public Interest…
-
Two oil discoveries in less than 24 hours in Guyana and the Gulf of Mexico
The oil sector in Guyana and the Gulf of Mexico witnessed the announcement of two new oil discoveries by the leading American Hess Corp., and the German Wintershall Dea. And Hess Corp announced a new oil discovery in the “Lancet Fish 1” area in the Stabroek block off the coast of the small Latin state…
-
Crude oil prices are rising… and Brent is near $81
Crude oil prices rose marginally during trading on Wednesday, April 26 (2023), in an attempt to reduce bleeding losses, after falling by more than 2% in the previous session. Reports of declining crude oil and fuel inventories in the United States have refocused investors on strong demand in the world’s largest oil consumer. Crude oil…
-
Crude oil prices fall by more than 2%… and Brent is below $81 – (update)
Crude oil prices fell by more than 2% at the end of trading today, Tuesday, April 25 (2023), after two sessions of gains. This comes with uncertainty about the global economic outlook and a rising US dollar, which outweighed investor optimism about demand in China and expectations of lower US oil inventories. Crude oil prices…
-
Crude oil prices rise by more than 1% … and Brent is near $ 83 – (update)
Crude oil prices rose by more than 1%, at the end of trading today, Monday, April 24 (2023), with the decline in the US dollar and optimism about demand in China. This comes amid expectations of a decline in global fuel demand, which outweighed support from the possibility of supply cuts due to OPEC+ supply…
-
The price of Iranian oil to Asia rises in May, following in the footsteps of Saudi Arabia
Next May, the price of a barrel of Iranian oil destined for Asia will increase by about $0.3 compared to the current month of April, with the same value by which Saudi Aramco increased its shipments during the next month. And the National Iranian Oil Company announced the official selling prices for shipments for the…
-
OPEC’s share of India’s oil imports falls to its lowest level in 22 years
India’s oil imports, during the fiscal year ending in March (2023), witnessed a significant increase in Russian oil flows, at the expense of the oil of OPEC countries. India hastened to seize the largest number of cheap Russian shipments over the past period, with Moscow turning towards Asian markets after Western countries imposed sanctions on…
-
Crude oil prices fell by more than 2%, recording the lowest level in 3 weeks – (Update)
Crude oil prices fell by more than 2%, at the end of trading today, Thursday, April 20 (2023), to continue losses for the second day in a row, recording their lowest levels in 3 weeks. This comes amid expectations of an interest rate hike after recent economic data from the US and China failed to…
-
Crude oil prices are rising…and recording strong weekly losses – (Update)
Crude oil prices rose, at the end of trading today, Friday, April 21 (2023), in an attempt to reduce the losses incurred during the previous two sessions. Despite this, the oil markets recorded strong weekly losses, with increasing uncertainty about the economy and interest rates, as the increase in US gasoline stocks raised concerns about…
