Data from the Chinese Bureau of National Statistics showed today, Monday, that China’s crude oil production rose 2.4% year on year in September to 16.1 million tons, while natural gas production increased 7.6% from a year ago. Crude oil production grew 1.7% year on year in the first nine months …
Read More »Oil Drops After Chinese Data; All eyes on OPEC+
Oil prices fell today, Monday, after the growth of the Chinese economy in the third quarter of the year was weaker than expected, highlighting concerns about the impact of the growing Coronavirus infections around the world on demand for the largest importer of crude in the world. The world’s second-largest …
Read More »Oil Trying Towards Positivity
Oil, Crude, trading
Read More »Oil Prices Limit Weekly Gains
Oil prices declined on Friday, amid concerns about the second wave of the COVID-19 pandemic and its impact on the global demand for energy. However, losses were marginal due to support from the commitment expressed by the OPEC+ alliance to output curbs. Brent crude futures for December delivery plunged by …
Read More »Oil Fell on Rising in Covid-19 Cases And Strong Dollar
Oil prices fell, as they were negatively affected by fears that a significant increase in the number of cases of Covid-19 in Europe and the United States was curbing demand in two of the largest fuel-consuming regions in the world, while the strength of the US dollar added more pressure …
Read More »Oil is Looking For a Clearer Direction
Oil, Crude, trading
Read More »Oil Narrows Losses on US Inventory Data
Oil prices closed Thursday lower amid increased concerns for the second wave of the COVID-19 pandemic and its effect on the global demand recovery. Brent crude futures for December delivery decreased by 16 cents, or 0.4%, to settle at $43.16 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for …
Read More »US Oil Inventories Decline More than Expected
Crude oil inventories in the United States declined by 3.8 million barrels last week, according to data by the US Energy Information Administration (EIA) on Thursday. The decline exceeds that expected by market experts of around 2.3 million barrels, and it comes after an increase of 500,000 barrels in the …
Read More »Oil Falls as Corona Cases Threaten to Recover Demand
Oil prices plunged on Thursday, erasing earlier gains in the session, as a new spike in COVID-19 cases around the world reinforced concerns about economic growth and a recovery in fuel demand. European countries re-impose curfews and general isolation measures in light of the increase in new cases of Corona. …
Read More »Oil Continues to Gain
Oil, Crude, trading
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