Tag Archives: brent

OPEC’s oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID pandemic, while the number of its members’ active rigs posted a modest rebound and new completed wells declined, data from the group showed. The value of petroleum exports by the 13-member Organization of …

Producer group OPEC+ trimmed its projected 2022 oil market surplus to 1 million barrels per day, down from 1.4 million bpd previously, a report said on Monday. The said report was prepared for the group’s upcoming meeting of the OPEC+ Joint Technical Committee scheduled to take place on Tuesday.As for …

US President Joe Biden is focused on knocking down sky-high fuel prices, but he has a limited influence to do that and the US President said he cannot take immediate action to bring them down. The oil markets were paying attention to Biden’s plans in March when he announced a …

The OPEC+ group of producers continues to underproduce, which had taken the sting out of the highly anticipated 430k bpd output hike this month.While there are no formal plans to push OPEC to increase oil output, some members have plans for so doing particularly given that Russian output is likely …

Oil prices rose on Thursday, continuing a cautious performance this week amid signs of tight supplies as the European Union discussed with Hungary plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. Brent crude futures for July delivery rose 47 cents, or 0.41 percent, …

Crude oil price slightly rose on Wednesday, buoyed by tight supplies and as US refiners drove refining activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July rose by 9 cents to $113.65 a barrel. US West Texas Intermediate (WTI) crude for July delivery …

Oil prices fell by nearly a dollar on Tuesday, on fears of a possible recession and restrictions to combat COVID-19 in China, which outweighed the impact of tight global supply and expectations of increased demand for fuel as the summer travel season begins in the United States. Investment banks including …

Oil prices rose in early trading on Monday as US fuel demand, tight supplies and a slight decline in the dollar supported the market as Shanghai prepared to reopen after a two-month shutdown, raising concerns about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a …

Oil prices rose in early trading on Monday as US fuel demand, tight supplies and a slight decline in the dollar supported the market as Shanghai prepared to reopen after a two-month shutdown, raising concerns about a sharp slowdown in growth. Brent crude futures rose 82 cents to $113.37 a …

Brent has been the more expensive crude blend since 2013 thanks to its status as the global oil benchmark and a better indicator of global oil prices.This week, WTI price crossed Brent to trade at $115.4/bbl versus 115.2/bbl. This is a remarkable development according to most observers. The average investor …