Tag: report
-
A report lowers oil price expectations in 2023, despite Saudi Arabia’s decision
The US Energy Information Administration lowered its oil price forecast in 2023 slightly, and cut its estimates for crude production in the United States during the same year. The Short-Term Energy Outlook report for July 2023, issued today, Tuesday (July 11), predicted that the average price of West Texas Intermediate crude would reach $74.43 per…
-
What is the relationship between oil prices and stocks and reserves? Is it affected by the American filling? (a report)
Energy platform editorial advisor, energy economics expert Dr. Anas Al-Hajji, said that oil prices are affected by commercial oil stocks, as a decrease in stock raises prices, and a high stock lowers them, but there are other factors. This came during an episode of “Energy humanitiesAl-Hajji presented it on Twitter, under the heading “Reserves, Stockpiles,…
-
A report expects an increase in oil prices and a decrease in supply by 2 million barrels per day
A recent report sheds light on the developments in oil prices, according to global oil stocks that have not witnessed a decline due to the abundance of supply in the markets. The report – issued by the Swiss investment bank “UBS” – confirmed that although demand for oil remains strong, supply from several locations witnessed…
-
A report reveals a decline in Russian oil production by 300,000 barrels per day
Participants in global markets seek to verify Moscow’s commitment to reducing Russian oil production to 9.5 million barrels per day, in the period from March 2023 until the end of the year, as part of a group of voluntary production cuts for several member states of the OPEC + alliance, with the aim of achieving…
-
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…
-
A report expects oil prices to rise to $105.. When will this happen?
Oil prices witnessed another decline over the past weeks, as they are currently trading below $75 per barrel. This came in the wake of the recent rise that pushed Brent crude prices above $85 a barrel, following the sudden voluntary production cuts announced by members of the OPEC+ alliance in early April 2023, which will…
-
Declining oil inventories and reducing OPEC + production push oil prices towards $100 (report)
A recent report highlighted the decline in oil inventories after a strong build at the start of 2023, which was likely driven by lower demand in January, given the mild weather and production recovering from December’s weather disruptions. The report – issued by the Swiss investment bank “UBS” – stated that February data indicated a…
-
A new report reveals expectations for oil prices until 2024
Goldman Sachs cut oil price expectations, whether during the next 12 months, or until the end of 2024, despite the recovery in Chinese demand for crude in the wake of the recovery from the repercussions of the Corona pandemic. It seems that the increase in Chinese demand had less impact on the expectations of crude…
-
A report reveals expectations for oil and mineral prices in 2023
There is no doubt that the recovery of the Chinese economy from the repercussions of the Corona epidemic will provide a strong impetus to global oil and mineral prices in 2023, after the turmoil left by the Russian invasion of Ukraine last year (2022). Research firm Wood Mackenzie believes – in a report issued Thursday,…
-
A recent report reveals its expectations for oil prices after the collapse of Silicon Valley
The US banking crisis cast a shadow over oil prices, following the collapse of the Silicon Valley bank, during the past few days. And with the worsening situation and increasing fears of an economic recession, crude prices fell during trading today, Wednesday, March 15 (at 07:00 pm Mecca time), by about 6%, and the price…
