Tag: oil
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Crude oil prices fall by more than 1%.. and Brent is below $83 – (Update)
Crude oil prices fell by more than 1% at the end of trading today, Wednesday, March 8 (2023), for the second session in a row, amid fears of an economic recession that may affect demand. This comes at a time when data from the Energy Information Administration showed an unexpected drop in US crude oil…
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Oil production in Nigeria is threatened with a loss of 4 million barrels
Oil production in Nigeria is set to drop dramatically in March 2023 and beyond, due to the recent bombings of a major pipeline in the Niger Delta region. A major export pipeline exploded in the oil-rich Niger Delta region, Thursday evening, March 2, 2023, killing 12 people and injuring others, according to the specialized energy…
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Crude oil prices are declining… and Brent is near $83
Crude oil prices fell during trading today, Wednesday, March 8 (2023), for the second session in a row, amid fears of an economic recession that may affect demand. This comes at a time when industry data showed an unexpected drop in US crude oil inventories, after the market fell in the previous session, amid fears…
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The Energy Information Administration cuts oil price forecasts in 2023
The US Energy Information Administration cut its oil price forecast in 2023, and cut estimates of US crude production. According to the Short-Term Energy Outlook report for March 2023 – issued today, Tuesday, March 7 – it is expected that the average price of West Texas Intermediate crude oil will record $ 77.10 per barrel…
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The Egyptian Minister of Petroleum discusses oil and gas developments with industry leaders (photos)
On the sidelines of his participation in CERA Week 2023, held in the American city of Houston, the Egyptian Minister of Petroleum, Eng. Tarek El-Molla, met with a number of senior US officials and heads of international companies working in the field of oil and gas. Al-Mulla held discussions throughout Monday, March 6 (2023), which…
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Crude oil prices are rising… and “Brent” exceeds $86 a barrel
Crude oil prices rose today, Tuesday, March 7 (2023), with oil industry leaders announcing their concerns about a limited surplus in global markets, and uncertainty about Russian supplies, despite the recovery in demand in China. And global crude prices began a slow rise at the end of yesterday’s sessions, Monday, after volatile sessions that witnessed…
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Crude oil prices rise 1%.. Brent is above $86 – (Update)
Crude oil prices rose by about 1%, at the close of trading today, Monday, March 6 (2023), to surpass Brent crude at $86 per barrel, after a volatile session. Crude prices fell during trading, amid fears of a decline in demand, after China set a lower-than-expected target for economic growth this year at 5%, while…
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The first oil exploration bids in Guyana attract an Arab company only
No fewer than 10 companies will participate in the first bidding round for oil exploration in Guyana, as focus grows on the South American country’s potential to diversify oil supplies away from Russia. Guyana offers 14 offshore blocks in this round of bidding; In order to accelerate the country’s economic development, and reduce the dominance…
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Crude oil prices are declining… and Brent is near $85
Crude oil prices fell, during today’s trading, Monday, March 6 (2023), amid fears of a decline in demand. This comes after China set a lower-than-expected target for economic growth this year at 5%, and as investors cautiously await testimony from US Federal Reserve Chairman Jerome Powell this week. Crude oil prices today By 07:46 a.m.…
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Egyptian Minister of Petroleum: We continue to explore for oil and gas…and there is great interest in exports
Egyptian Minister of Petroleum Tarek El-Molla said that Egypt was affected by global fluctuations during the past year (2022), but it has adapted its capabilities and resources – especially in the natural gas sector – to expand exports to the European market, after achieving self-sufficiency locally. He added that what happened to the markets recently…
