Tag: oil
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Crude oil prices are down 2%.. and Brent is under $82
Crude oil prices fell about 2%, during trading today, Thursday, April 20 (2023), to continue the losses for the second day in a row, recording their lowest levels since the OPEC + announcement to cut production. This comes as the US dollar rose, amid expectations of an interest rate hike, after recent economic data from…
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Russian oil finds its purpose in Saudi Arabia and the UAE.. What is America’s position?
Russian oil shipments had to change course, after harsh Western sanctions that followed the war on Ukraine in February 2022. Although the West aimed, behind these restrictions, to dry up the sources of funding for the Russian war led by Vladimir Putin, Moscow succeeded – unexpectedly – in making the most of the new situation,…
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Egyptian Minister of Petroleum: Oil prices are an incentive to drill more wells and increase production
Egyptian Minister of Petroleum, Tarek El-Molla, confirmed that the current rise in oil prices and their stability above $80 per barrel is an incentive to continue exploration and increase production. Al-Mulla stressed the importance of the meetings that take place to discuss the development and increase of the current production rates of crude oil, and…
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Crude oil prices rise marginally… and Brent is below $85 – (Update)
Crude oil prices rose at a slight pace, at the end of trading today, Tuesday, April 18 (2023), with the strong economic data coming from China, which is the largest importer of oil in the world. Official data coming from China contributed to the rise in crude oil prices, especially with faster-than-expected economic growth in…
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Russian oil is flowing to India and China above the price ceiling levels
India and China turned a blind eye to the US warnings, as they continue to import Russian oil at prices that exceed the ceiling set by Western countries in an attempt to reduce Moscow’s energy revenues. Beijing and New Delhi captured the vast majority of Moscow’s oil exports in April (so far) at prices above…
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Crude oil prices are back on the rise… and Brent is above $85 a barrel
Crude oil prices witnessed a slight increase, today, Tuesday, April 18 (2023), supported by the strong economic data coming from China, which is the largest importer of oil in the world. The data reinforced the expectations of demand for crude oil, which contributed to achieving a price recovery, despite what witnessed yesterday’s sessions, Monday, April…
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Crude oil prices are down 2%… and Brent is below $85 – (update)
Crude oil prices fell by more than 2%, at the end of trading today, Monday, April 17 (2023), amid fears of a global economic recession that may affect demand. Markets had started the morning trading on the upside, supported by OPEC + plans to cut more production, and investors looked to Chinese economic data for…
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Is oil production in and south of Sudan affected by the political conflict?
Oil production in Sudan and its south has become a new concern in global markets, in light of the intensification of political conflict between military leaders for the third day in a row, amid fears of a civil war. Oil production in Sudan – the smallest producer in the OPEC + alliance – is estimated…
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Saudi oil export revenues fell by $2.8 billion in February
Saudi oil export revenues declined, during last February, on an annual basis, with the decline in average oil prices compared to the same period in 2022. And official data – seen by the specialized energy platform – showed that Saudi Arabia’s oil revenues decreased, in February, by 11.7%, compared to the same period in 2022.…
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Crude oil prices are rising… and Brent is above $86
Crude oil prices rose marginally, during today’s trading, Monday, April 17 (2023), amid expectations of an increase in demand and a decline in supplies. This comes with the support of OPEC + plans to cut more production, and investors looked forward to Chinese economic data in search of signs of recovery in demand in the…
