Weekly Crude Oil Prices Forecast Sep 03, 2023
The Brent crude oil price faced demand last week and could break 88 USD on Friday. Now 88 has become an important support for oil and we will see an upward trend in the future. As you can see in the chart, the most important resistance in front of the Brent crude oil price is […]
Crash In Crude Inventories Sends Oil Prices Higher
The American Petroleum Institute (API) has reported a massive 11.486-million-barrel draw in U.S. crude inventories, compared with the previous week’s 2.418-million-barrel draw as the markets weigh China’s economic activity against U.S. crude inventories. Analysts were expecting an inventory draw of 2.9 million barrels for the week. The total number of barrels of crude oil gained […]
Weekly Crude Oil Prices Forecast Aug 27, 2023
As shown in the chart, the price of 88 USD is considered an important resistance for the Brent crude oil, and cannot reach higher prices until it is broken. Also, 82 USD is considered a support for oil, and we have seen fluctuations between 82 and 88 in the last two weeks. On Friday, the […]
Saudi Aramco Looks to Expand Downstream Business in China
Saudi Aramco looks to further bolster its downstream presence in the world’s top crude oil importer, China, the oil giant’s Downstream President, Mohammed Al Qahtani, has said. “China is strategically important to our business growth in Asia and worldwide, and we will remain a reliable source of long-term oil supply,” Al Qahtani was quoted as […]
Weekly Crude Oil Prices Forecast Aug 19, 2023
When the Brent crude oil price reached 88 USD last week, it was predicted lower prices to 82 USD. On Wednesday, the Brent crude oil price reached the range of 83 USD and again accompanied by demand and reached 85 USD on Friday. Rumays specialists group carefully monitors market issues and forecasts the Brent crude […]
Iran to Bring 67 New Oil and Gas Projects Online
67 new oil and gas projects worth some $15 billion should be operational in Iran by next March, the country’s first vice president, Mohammad Mokhber, has said. Last year, Iran completed $12 billion worth of started but unfinished projects in the oil and gas field, Iran Front News reported. Iran is currently producing some 3.18 […]
Weekly Crude Oil Prices Forecast Aug 12, 2023
As Rumays specialists group predicted last week, the Brent crude oil price reached 88 USD on Thursday. Regarding the continuation of the oil price trend, as mentioned last week, the number 88 is an important resistance for the Brent crude oil price, so we have to see if it breaks the 88 USD or not! […]
Saudi Arabia’s Cabinet Throws Support Behind OPEC+ Cut Extension
Saudi Arabia’s cabinet, or Council of Ministers, showed its support for what it considers to be precautionary measures taken by OPEC+ to stabilize the oil market, Saudi Arabi media said on Tuesday. It said it would continue to boost OPEC+ precautionary efforts to support the stability of the oil markets, Kingdom officials said. Saudi Arabia, […]
Weekly Crude Oil Prices Forecast Aug 05, 2023
The Brent crude oil price reached 86 USD as predicted last week, and it can reach 88 USD during this week. The number 88 is an important resistance for the Brent crude oil price, so we have to see if it breaks the 88 USD or not! Rumays invites you to follow the weekly crude […]