Tag: oil
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The Kremlin reveals the position of OPEC + on the decision to reduce Russian oil production
Today, Friday, February 10 (2023), Kremlin spokesman Dmitry Peskov revealed that Russia held consultations with several countries in the OPEC + coalition regarding the decision to reduce Russian oil production. This denies previous statements, issued today, Friday, February 10 (2023) – also – that Moscow decided to cut production without consulting with the coalition countries.…
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Crude oil prices fall in a volatile session… and Brent is below $85 – (Update)
Crude oil prices fell for the first time in 4 consecutive sessions at the end of trading today, Thursday, February 9 (2023), with concerns about demand in America. Crude prices witnessed a volatile session; Optimism about a recovery in Chinese demand was offset by concerns about weak economic activity in the US, after inventories hit…
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4 oil and gas discoveries in just 24 hours… and huge gas reserves
The past 24 hours witnessed the announcement of 4 oil and gas discoveries, by major international companies, in support of the growing demand for fossil fuels. Today, Thursday, February 9 (2023), the Norwegian company Equinor announced a new oil and gas discovery near the Troll field in the North Sea. It is the seventh in…
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Crude oil prices are rising… and Brent is above $85
Crude oil prices rose marginally, during today’s trading, Thursday, February 9 (2023), amid hopes for a recovery in demand. Optimism about a recovery in Chinese demand was offset by fears of weaker activity in the US, after inventories hit a 19-month high. Crude oil prices today By 07:29 a.m. GMT (10:29 a.m. Mecca time), the…
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Announcing the latest numbers of oil and gas reserves in Mauritania
A workshop organized by the Ministry of Petroleum, Mines and Energy in Nouakchott revealed the latest numbers of oil and gas reserves in Mauritania. The workshop aimed to present the results of the “promotion and communication” strategy that supports the development of oil and gas projects in Mauritania, according to data seen by the specialized…
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Azerbaijani oil exports raise uncertainty about when they will resume flowing from the port of Ceyhan
The devastating earthquake that shook Turkey continues to cast a shadow over Azerbaijani oil exports through the Turkish port of Ceyhan, which have not yet flowed since the earthquake. This comes at a time when the port of Ceyhan resumed receiving Iraqi oil exports, on Tuesday, February 7 (2023), after they were halted in the…
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Oil prices rise by more than 1.5%.. Brent crude is above $85 – (Update)
Oil prices rose by more than 1.5% for the third consecutive session at the end of trading today, Wednesday, February 8 (2023), with optimism about the demand for crude and the decline of the US dollar. This comes despite the rise in oil stocks in the United States for the seventh week in a row,…
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Oil prices are rising… and Brent crude is near $84
Oil prices rose marginally during trading today, Wednesday, February 8 (2023), amid limited movements in the price of the US dollar. This comes as investors await more data on US oil inventories to get more clues on demand trends. Oil prices today By 07:31 a.m. GMT (10:31 a.m. Mecca time), the price of benchmark Brent…
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Moscow responds to developments in the ceiling of Russian oil prices
Moscow described the “waivers” of the Russian oil price cap as tangible evidence of continued demand for Russian supplies. On Tuesday, February 7 (2023), the European Commission published an explanation of the decision to impose a price cap on Russian oil products, in which it specified the cases to which the price ceiling does not…
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Oil prices jump 4%… Brent crude is above $83 – (Update)
Global oil prices continued to consolidate their gains by more than 4% at the end of the day, Tuesday, February 7 (2023), supported by optimism about demand in China. Crude prices also received support from concerns about the closure of a major export terminal in Turkey after the country was hit by a devastating earthquake…
