Tag: price
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The global price of a barrel of oil falls 1.5% and records weekly losses – (update)
The price of a barrel of oil fell globally by more than 1.5%, at the end of trading today, Friday, June 9 (2023), after a volatile session, to continue to decline for the second day in a row, which prompted it to record its second weekly loss, amid fears of an economic recession that might…
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The global price of a barrel of oil falls in a volatile session… and Brent crude is below $76 – (update)
The price of a barrel of oil fell globally by more than 1.5%, at the end of trading today, Thursday, June 8 (2023), to return to decline, after it rose in the previous session, supported by fears of a shortage of supply after Saudi Arabia pledged to cut production by about 1.5 million barrels per…
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The global price of a barrel of oil is rising… and Brent crude is above $77
The price of a barrel of oil rose globally, during trading today, Thursday, June 8 (2023), to continue to reap gains for the second session in a row, supported by fears of a lack of supply after Saudi Arabia pledged to cut production by about 1.5 million barrels per day during next July, which is…
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The global price of a barrel of oil is rising by more than 1%… and Brent crude is near $77 – (update)
The price of a barrel of oil rose globally by more than 1% at the end of trading today, Wednesday, June 7 (2023), in an attempt to compensate for the losses it suffered in the previous session, as fears of a shortage of supplies were overwhelmed after Saudi Arabia, the largest exporter of crude oil,…
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The global price of a barrel of oil is turning higher… and Brent crude is above $77 (update)
The price of a barrel of oil globally turned up by more than 1% during trading today, Wednesday, June 7 (2023), in an attempt to compensate for the losses it suffered in the previous session, as fears of a shortage of supplies were overwhelmed after Saudi Arabia, the largest exporter of crude oil, pledged to…
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The Energy Information Administration raises oil price forecasts by 13% in 2024
The US Energy Information Administration raised expectations for crude oil prices by about 13% during the next year (2024), and also strengthened its estimates for the year 2023, after the OPEC + alliance decided to stabilize the supply reduction policy, with an adjustment to the base month through which the production quotas of members in…
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Sources reveal the fuel price plan in Egypt before an official (private) meeting
The Automatic Pricing Committee for Oil Derivatives is preparing for a meeting to set fuel prices in Egypt, during the first week of next July (2023), a meeting that comes after a few weeks of moving diesel prices alone, which raises speculation about trends. The government towards moving prices again, or not. Informed sources revealed,…
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The price of a barrel of Algerian oil is down 21% in 3 months
A recent report revealed that the price of a barrel of Algerian oil declined by about 21% during the first quarter of this year (2023), affected by fears of a global economic recession that may affect demand. A report by the Organization of Arab Petroleum Exporting Countries (OAPEC) on the global oil situation in the…
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Lowering oil price expectations to $95 at this date (report)
Swiss investment bank UBS has lowered its oil price forecasts from the second half of 2023 to the first quarter of next year (2024). The investment bank expected more withdrawals from the strategic oil reserves in light of the additional voluntary production cut announced by several OPEC+ countries, with increasing demand during the summer. The…
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Energy Information Administration cuts oil price forecasts to below $80
The US Energy Information Administration cut its oil price forecasts for 2023 and 2024 by more than 7%, and cut its estimates for crude production in the United States. According to the Short-Term Energy Outlook report for May 2023, issued today, Tuesday, May 9, 2023, the average price of West Texas Intermediate crude oil is…
