Tag Archives: Oil

China’s imports of crude oil in August rose 13% from their level a year ago, supported by large purchase orders earlier in the year when global oil prices collapsed and at a time when customs clearance of shipments delayed in the past due to congestion at ports. Data issued by …

Oil prices closed lower on Friday, amid mixed expectations for demand recovery, and a rise for the USD, which decline was seen a support factor for crude prices. Brent crude futures for November delivery settled lower by $1.41, or 3.2%, at $42.66 per barrel, raising its weekly decline to 6.9%. …

Russian Energy Minister Alexander Novak said that the global demand for oil may decrease by between nine and ten million barrels per day due to the negative impact of the Coronavirus. Novak also said in an online conference that oil prices may rise to around $ 65 a barrel next …

Oil prices declined on Thursday, due to negative outlook for demand recovery from the effects of the COVID-19 pandemic. Brent futures for November delivery closed lower by 36 cents, or 0.8%, at $44.07 per barrel. This is the lowest closing level for the global benchmark crude oil futures since July …

Oil prices declined on Wednesday, despite a decrease in crude inventories in the United States, as production in the Gulf of Mexico recovers from the impacts of Hurricane Laura. Brent crude futures for November delivery closed lower by $1.15, or 2.5%, at $44.43 per barrel. Meanwhile, the US West Texas …

Russian Energy Minister Alexander Novak said that global oil demand has recovered by a large rate, up to 90% from pre-pandemic levels, adding that Moscow will propose to the OPEC+ group to take a response to this trend within the framework of the global agreement to reduce oil production. Novak …

Crude oil futures continued their gains Wednesday, September 2, after an exceed-expectations withdrawal from crude inventories in the United States and strong activity by American and Chinese factories fueled optimism about the recovery from the Coronavirus pandemic and boosted investors’ appetite for risk. Brent crude futures rose 45 cents to …

Russia’s production of oil and gas condensate rose 5% in August to 41.7 million tons, or 9.86 million barrels per day, from 9.37 million barrels per day in July, Interfax news agency reported, citing data from the Russian Energy Ministry. The increase follows a decision by a group of oil-producing …

According to the New York Mercantile Exchange, crude oil futures for October were traded at $43.09 a barrel, up 0.77%. It was previously traded at a session high at $43.16 a barrel. Crude oil may find support at $42.36 and resistance at $43.57. The dollar index, which measures the performance …

American Petroleum Institute data released showed a decline in US inventories of crude oil and fuel in the latest week. Crude inventories fell 6.4 million barrels for the week ending August 28 to about 501.2 million barrels, while analysts expected a decline of 1.9 million barrels. Crude stocks at the …