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Tag: Oil Prices

Oil Prices Finish Higher on US Draw and OPEC+ Signs

Oil jumped the most in a week after a surprise decline in U.S. crude inventories and signals that OPEC+ made progress toward a widely anticipated…

Infographic: Oil majors rethink upstream spending amid face-off for cheapest barrels

Global oil majors are being forced to reevaluate the resilience and cost of new oil and gas projects to accommodate weaker demand outlooks and lower…

Advance Toward $50 Oil Could Be Tricky for OPEC+

With OPEC+ just days from meeting, those countries who favor ratcheting up oil production may be finding some support for their arguments from surging prices…

SOCAR: Azerbaijani Oil Cost $ 43.2 on Average in January-September

The average price of Azerbaijani light oil of the Azeri Light brand on the terms of CIF delivery in January-September 2020 was $ 43.2 per…

Russia Sees Oil Above $50 in 2021

Russia sees oil prices averaging $50 to $55 a barrel in 2021 as the development of Covid-19 vaccines spurs an economic recovery, said Energy Minster…

The Effects of a 2nd Covid Wave on Oil

Oil demand in 2020 could lose an additional 2.5 million barrels per day (MMbpd) in a second Covid-19 wave scenario, according to Rystad Energy. The…

Eni Says Pandemic is Reshaping Oil Industry

Eni SpA became the latest oil company to cut its long-term price assumptions, saying the coronavirus pandemic would have a lasting impact on the industry….

Saudis hike oil prices to key markets on rising energy demand

DUBAI (Bloomberg) – Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe amid signs that energy demand is continuing…

Brent oil passes $43/bbl on climbing equity markets, Saudi price hikes

Oil rose in London to above $43 a barrel as Saudi Arabia hiked its official selling prices, and as global equity markets climbed. Brent gained…

Analysts See Limited Upside To Oil Prices This Year

Oil prices are unlikely to jump too much this year despite the OPEC+ production cuts as the economic and oil demand recovery are set to…

Russia Expects Average Price of Urals Oil in 2020 at $ 35 per Barrel

The Ministry of Energy of the Russian Federation expects that the average price of Russian Urals oil in 2020 will be $ 35 per barrel, the Minister Alexander…

Fitch Ratings cuts oil, gas price assumptions on coronavirus, price war

Fitch Ratings has cut its short- and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020, Trend reports citing Fitch…

Oil falls on oversupply worries despite Iran sanctions

Oil prices headed for a third weekly loss on Friday after Saudi Arabia warned of oversupply, while a slump in stock markets and concerns about trade clouded…

Trump blamed for rising crude prices: Iran

Iranian Minister of Petroleum Bijan Zanganeh stated on Tuesday that U.S. President Donald Trump was responsible for rising oil prices. The official also reiterated that…

Trump, Prime Culprit of rising oil prices: Zanganeh

Iranian Minister of Petroleum Bijan Zanganeh said the main culprit of high oil prices was US President Donald Trump and his disruptive, illegal policies. According…

OPEC-Non-OPEC JMMC no decision-making body

Iran’s Minister of Petroleum Bijan Zangeneh said the Joint OPEC/Non-OPEC Ministerial Monitoring Committee (JMMC) is not legally competent to make decisions about adjustment of production…

US Pressuring Riyadh to Push Down Oil Prices: Iran

Hossein Kazempour Ardebili, Iran’s OPEC Governor, in response to the recent joint statement of Saudi Arabia and Russian’s oil minister and the meeting between Saudi…

Citigroup: Oil price will gradually decline this year

The correction of oil prices in the world market continues and there is potential for further price cuts. Report informs, the US’s Citigroup analysts said. According…

EIA updates its forecast for oil prices

Energy Information Administration (EIA) of the US Department of Energy increases forecast for Brent to $ 62.39/bbl in 2018.  Report informs, says the short-term EIA…

Iranian light oil price at $62.03 in a week

Iran’s light crude oil price fell 71 cents in the week ended on December 8 to settle at $62.03 per barrel, Mehr news agency reported…

Oil Prices Fall More Because of IEA Forecasts

The prices of reference brands of oil significantly accelerated the decline in trading on Tuesday after the International Energy Agency (IEA) lowered forecasts of world…

Societe Generale Reduces Forecast of Oil Prices for Second Time

Analysts predict a decline in oil prices in the second half of 2017 Analysts of Societe Generale for the second time since the beginning of…

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