Tag: oil
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The global price of a barrel of oil rises and records weekly gains – (Update)
The price of a barrel of oil rose globally by more than 1.5%, at the end of trading today, Friday, January 20, 2023, to reap weekly gains for the second time in a row. This is largely driven by China’s bright economic prospects. This will boost fuel demand in the world’s second largest economy. The…
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Shock in the oil and gas sector in the Netherlands after the announcement of the cessation of onshore exploration
The oil and gas sector in the Netherlands is preparing to receive an additional deflationary shock, after the government announced the suspension of new onshore exploration activities. Today, Friday, January 20 (2023), the Dutch government announced its readiness to stop research and land exploration activities for fossil fuel sources, according to Reuters. The Dutch government…
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The global price of a barrel of oil has risen… and Brent crude is near $87
The price of a barrel of oil rose globally, during today’s trading, Friday, January 20, 2023, and is heading to reap weekly gains for the second time in a row. This is largely driven by China’s bright economic prospects. This will boost fuel demand in the world’s second largest economy. The global price of a…
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Qatar Energy lowers the price of Al-Shaheen crude oil to the lowest level in 21 months
Qatar Energy Company intends to reduce the official selling prices for Al-Shaheen crude, loading next March, in conjunction with the volatile dealings in the oil markets. Qatar set the future price of Al-Shaheen crude in March at a premium of $1.37 a barrel above Dubai prices, the lowest level since June 2021. The new cut…
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A new trick to export Russian oil and store it in an Arab country
Russian oil continues to lure many global markets with its cheap prices, prompting some to circumvent the sanctions imposed on Moscow following its invasion of Ukraine. In this context, it was noted the increasing demand for oil storage tanks in Singapore and the UAE, indicating that Russian oil is being blended and re-exported globally. Storage…
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The global price of a barrel of oil has declined… and Brent crude is near $84
The global price of a barrel of oil declined by about 1%, during today’s trading, Thursday, January 19, 2023, to continue bleeding losses for the second consecutive session. This comes after US data indicated a sudden jump in US crude stocks, along with fears of a recession, which were fueled by the disappointment of retail…
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The global price of a barrel of oil has fallen… and Brent crude is below $85 – (Update)
The price of a barrel of oil declined globally at the end of trading today, Wednesday, January 18 (2023), after a volatile session, with concerns about slowing economic growth in the United States, following the release of economic data. Crude prices rose during the session, with optimism that lifting the strict restrictions imposed by China…
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Oil production in Syria awaits the return of a British company
The British Gulf Sands Company denounced the “illegal” production of oil in Syria from its fields subject to force majeure 6 years ago, stressing that it has a plan to return again to the country. The company owns a 50% stake in Block 26, as its interests go back to before the war in Syria,…
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The global price of a barrel of oil has risen… and Brent crude is near $87
The price of a barrel of oil rose globally during trading today, Wednesday, January 18 (2023), to continue the gains for the second consecutive session. This comes with optimism that lifting the strict restrictions imposed by China on Corona will lead to a recovery in fuel demand in the world’s largest oil importer. The global…
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The global price of a barrel of oil has risen… and US crude exceeds $80 – (Update)
The price of a barrel of oil rose globally at the end of trading today, Tuesday, January 17 (2023), amid hopes for an increase in fuel demand, as US crude exceeded the $80 barrier for the first time in two weeks. Oil markets are facing volatile dealings, after China recorded its weakest annual economic growth…
