Heavy losses for oil at Wednesday’s meeting, with the US crude losing $ 80 a barrel and its price is at its lowest level since early October. The “black gold” dip came after the South China Morning Post reported that Joe Biden and Xi Jinping discussed during their recent meeting the possibility of the US […]
Tag: oil
OPEC SEC: We must be very careful with the increase in production – Signs of surplus in the market
OPEC “sees” signs of oil surplus in the market from next month, with the general secretary of the cartel advising its members and their allies to be “very, very careful” regarding the review of production policy in the regular monthly meetings their. It is recalled that the Organization of the Petroleum Exporting Countries and its […]
IEA: Sees drop in oil prices
The International Energy Agency (IEA) said on Tuesday that the rise in oil prices could soon subside as the US leads the recovery in global supply. Oil prices have jumped to over $ 80 a barrel in recent weeks, reaching the highest level in seven years as demand outstrips supply. The price rally has led […]
El Erian: Why does he not see a rise in oil to $ 100
Forecasts for a rise in crude to $ 100 a barrel ignore key questions about the future of oil demand, according to Mohamed El Erian, chief financial officer of Allianz and chairman of Gramercy Fund Management. Both the international benchmark Brent and US crude have jumped above $ 80 a barrel in recent weeks as […]
Société Générale: When the super-cycle of goods meets the energy crisis
Her Eleftherias Kourtali Although there are still no strong signs that we are heading for a super cycle of commodities, especially base metals, Société Générale’s analysis shows that there is clear evidence that the market structure is declining from recent, “normal” patterns, and that it is approaching trend observed during the last super-cycle of 2002-2008. […]
Saudi Arabia – Emirates do not retreat to the US: No need to increase oil production
Saudi Arabia and the United Arab Emirates have sent “signals” that the OPEC + cartel will continue to resist US pressure to increase its oil production and move very cautiously in this area. US President Joe Biden, worried about the seven-year high in gasoline prices, which has significantly pushed up inflation, has called on the […]
Applications for the heating allowance start – the amounts
By Prokopis Hatzinikolaou As the temperature drops, the platform for the heating allowance opens. On Monday night or Tuesday morning the beneficiaries will be able to submit their application and receive the relevant allowance from the state. The applications according to the schedule should be submitted by November 30, while within the first ten days […]
Oil: Losses for the third week in a row with the US considering a move to ‘pick’ prices
Oil prices fell on Friday, ending another week in negative territory – the third consecutive – as traders continued to weigh the possibility of the release of US oil reserves from the Strategic Petroleum Reserve or the ban on oil exports to lower prices of petroleum products. At a press conference at the White House […]
Small recovery for oil prices – ‘Jump’ 5.5% natural gas
Oil prices closed higher on Thursday, recovering a small portion of the significant losses they suffered yesterday, after US inflation data boosted bond yields and the dollar and rekindled worries about a possible “release” of crude oil. Strategic Oil Reserve. Alongside, OPEC cut its forecast for global oil demand on Thursday for the fourth quarter […]
OPEC: Reduces its forecast for global oil demand for the fourth quarter of 2021
OPEC on Thursday cut its forecast for global oil demand for the fourth quarter of 2021 due to high energy prices, although the agency insists on its forecast for strong growth above pre-pandemic rates in 2022. OPEC said in its monthly report that it expects average oil demand to reach 99.49 million barrels per day […]
