Oil Prices Jump As Saudi Arabia Extends Oil Production Cut
Oil prices jumped on Thursday after Saudi Arabia said it would extend its unilateral voluntary cut of 1 million barrels per day (bpd) into September, adding that the cut could be extended or extended and deepened. Minutes after the Saudi announcement via the official Saudi Press Agency, oil prices – which were flat until then […]
Weekly Crude Oil Prices Forecast July 29, 2023
As the Brent crude oil prices was analyzed and predicted last week, the prices could break the downward trend line and cross 82 USD and move towards the range of 88 USD.
Bitumen News July 28,2023
Oil prices rise and competition in the bitumen industry led to higher bitumen prices last week. And the strengthening Rial against the dollar was not also ineffective. As predicted last week The crude oil price rose to 83 USD and is getting higher, probably reaching 86 to 88 USD in the next month. The Russian […]
Weekly Crude Oil Prices Forecast July 22, 2023
After two months of fluctuating prices, oil prices have reached 80 USD, however, it is uncertain whether it will be able to surpass this initial level.
Crude Oil News April 25, 2023
4/25/2023 April 25, 2023 Oil Steady after Two-Day Gain as Supply Issues Blunt Demand Woes Exports of crude from Iraqi Kurdistan still remain paused WTI trades near $79 after rising 2% over last two sessions Oil steadied after two days of gains with an uncertain demand outlook being partially offset by disruptions to supply […]
Crude Oil News April 11, 2023
4/11/2023 April 11, 2023 Oil Rises about 2% with U.S. and China Inflation in Focus Oil prices rose about 2% on Tuesday on hopes that the Federal Reserve might ease up on its policy tightening after a key U.S. inflation report this week, though concerns remain over Chinese demand. Brent crude futures settled up $1.43, […]
Crude Oil News April 3, 2023
4/3/2023 April 03, 2023 Oil Prices Surge after OPEC+ Producers Announce Surprise Cuts Oil prices spiked during Asian trade Monday after OPEC+ producers said they would cut production in a surprise move. Brent crude, the global benchmark, jumped 4.8% to $83.73 a barrel, while WTI, the US benchmark, rose 4.9% to $79.36. Rising oil prices […]
Crude Oil News April 2, 2023
4/2/2023 April 02, 2023 Saudis, Other Oil Giants Announce Surprise Production Cuts Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Higher oil prices would help fill Russian President […]
Crude Oil News March 24, 2023
3/24/2023 March 24, 2023 India Set to Surpass China in Need for Oil as Growth Paths Diverge A change is on the horizon for oil demand, with India set to eclipse China as the most important driver of global growth — and potentially the last, as the world shifts to a greener future. Indonesia’s environmental […]