Tag Archives: Oil

Oil prices fell on Wednesday, February 24, after data for the sector showed a sudden increase in US crude inventories last week, as freezing weather in southern states limited the demand for refineries that were forced to close. The American Petroleum Institute said on Tuesday that crude inventories increased 1 …

Oil, Crude, trading

Oil prices showed a mixed performance on Tuesday, as the market is anticipating the decision of the OPEC+ alliance regarding output policy next month. Brent continued to rise, reaching its highest level in 13 months, while the U.S. benchmark most active contracts gave up earlier gains and closed lower with …

Oil prices jumped by more than a dollar on Tuesday (February 23rd), as they received support from optimism about the distribution of anti-Covid-19 vaccines and a decrease in production as US supplies slowly return after freezing weather in Texas stopped crude production last week. Sources said that shale oil producers …

Oil, Crude, trading

Oil prices rose on Monday, reaching their highest level in about a year, with anticipation for the return of crude production and refining capacities in Texas, the United States, following the recent winter storms. Production recovery is reportedly expected to take a time longer than previously estimated. Brent crude futures …

Oil prices increased due to the slow resumption of US crude production after it was reduced by freezing weather conditions while demand recovered from its low levels during the Corona pandemic. Brent crude rose 55 cents, or 0.9%, to $63.46 a barrel, after increasing nearly 1% last week. U.S. crude …

The Kingdom of Saudi Arabia and Russia have all divided overviews on production strategy ahead of the upcoming OPEC+ meeting. Saudi Arabia sees a preference for keeping production steady, but Russia wants to increase supplies, Bloomberg reported. OPEC+, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) …

Oil prices declined on Friday, amid expectations that major crude producers forming the OPEC+ alliance could decide to raise output next month. The fall in oil prices comes despite the continuity of cold weather conditions, due to a strong winter storm that led to the shutdown of major oil facilities, …

The number of active oil rigs in the United States declined this week, seeing their first weekly decrease since November 2020, according to data by Baker Hughes. Oil rigs in the U.S. decreased by one to a total of 305 this week, while rigs drilling for natural gas increased by …