Muhammad Hashad, Director of Research and Development – Noor Capital. Oil prices are experiencing stability after the OPEC decision. Muhammad Hashad, Director of Research and Development at Noor Capital gives an overview of the markets in an interview with Dubai TV. Oil is currently stable and was able to withstand …
Read More »Russia Expects Strong Recovery for Oil Demand
Russia is expecting a strong recovery in the global demand for oil, according to the Russian Minister of Energy, Alexander Novak, Reuters reported. The minister said on Thursday that a significant rise in August could see demand improve to 10% below the pre-COVID-19 levels. Demand was nearing 100 million barrels …
Read More »Oil Prices Ease After OPEC + Decision
Oil prices retreated after OPEC + agreed to taper record supply curbs from August, although the drop had received some bailouts from the rapid recovery of US demand after crude inventories fell in. Brent fell 33 cents, or 0.8%, to $ 43.46 a barrel, with WTI down 42 cents, or …
Read More »OPEC+ Meeting to Discuss Oil Output Cuts From August
OPEC+ (OPEC and allies) is holding a Joint Ministerial Monitoring Committee (JMMC) meeting on Wednesday to decide oil output policy from August. The meeting will focus on easing output cuts to 7.7M bpd until December. This comes amid the slow recovery in the global economy that was hit by the …
Read More »Oil Settles Higher Awaiting OPEC Meeting
Oil prices increased on Tuesday, as the market anticipates the results of the OPEC+ summit. The US benchmark crude, West Texas Intermediate (WTI), futures for August delivery settled higher by 19 cents, or 0.5%, at $40.29 per barrel. Meanwhile, the global benchmark, Brent crude oil futures for September delivery increased …
Read More »Russian Oil Output Falls to 9.32 mln bpd in June, Approaching OPEC+ Target
Russian oil and gas condensate production fell to 9.32 million barrels per day (bpd) in June from 9.39 million bpd in May, near its target under a deal with the OPEC+ group, Interfax news agency reported on Thursday, citing energy ministry data. The production of oil and gas condensate per …
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