Parvin Faghfouri Azar

US Crude Oil Inventories Fall for Week Ending Dec. 25

US commercial crude oil inventories decreased by 1.2% for the week ending Dec. 25, according to data released by the Energy Information Administration (EIA). Inventories decreased by 6.1 million barrels to 493.5 million barrels, more than the market expectation of a fall of 2.1 million barrels. Strategic petroleum reserves, which …

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US Crude Oil Inventories Fall for Week Ending Dec. 25

US commercial crude oil inventories decreased by 1.2% for the week ending Dec. 25, according to data released by the Energy Information Administration (EIA). Inventories decreased by 6.1 million barrels to 493.5 million barrels, more than the market expectation of a fall of 2.1 million barrels. Strategic petroleum reserves, which …

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Germany’s Solar Boom Set to Continue in 2021

Germany saw a 25% increase in solar rooftop installations this year compared to 2019 and the trend looks set to continue next year, the German Solar Association (BSW) said Wednesday. The growth in the rooftop sector was not limited to PV installations, according to BSW managing director Carsten Körnig. “Whether …

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Iran’s Energy Minister Sees Iraq’s Visit Fruitful

Iranian Energy Minister Reza Ardekanian on Tuesday described his talks with senior Iraqi officials, including Prime Minister Mustafa al-Kadhimi during his visit to Baghdad as constructive and successful. Ardekanian and his accompanying delegation left Baghdad for Tehran late on Tuesday after day-long intensive talks with the Iraqi high-ranking officials. During …

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Saudi Cabinet Stresses Commitment to Support Oil Market Stability after Joint Committee Meeting with Russia

The Saudi cabinet said it reviewed on Tuesday the results of a Saudi-Russian joint governmental committee meeting, in which the two countries reaffirmed commitment to the cooperation pact between petroleum producing countries and the declaration of the OPEC+ group to support the stability of global oil markets, a cabinet statement …

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US Oil Inventories Down by 4.7M Barrels

Crude inventories in the United States fell by 4.78 million barrels in the week ending Dec. 25, private data from the American Petroleum Institute (API) reportedly showed Tuesday. Meanwhile, oil reserves in Cushing, Oklahoma, rose by 131,000 barrels in the same seven-day period. Gasoline stockpiles in the U.S. declined by …

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Oil Prices Rise on Hopes of Recovery in Demand

Oil gained more ground on Wednesday as a U.S. COVID-19 fiscal aid package and a decline in crude oil inventories lifted prices, Reuters reported. Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and U.S. West Texas Intermediate (WTI) crude rose 29 cents, or …

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Iran Emphasizes Resumption of Gas Export to Iraq

Iranian Energy Minister emphasized resuming gas export to Iraq in a meeting with the Prime Minister of the country on Tuesday. Reza Ardakanian made the remarks in a meeting with Iraqi Prime minister Mustafa Al-Kadhimi on Tuesday. Both sides conferred on the expansion of relations between the two countries. Iranian …

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Nord Stream 2 Pipelaying in German Waters Completed

In Germany’s exclusive maritime economic zone, the section of Russia’s Nord Stream 2 gas pipeline has been completed. That’s according to dpa agency’s report of December 28. The pipes were laid on a 2.6 km section at a 30-meter depth. Russian pipelayer Fortuna was involved in relevant works. Noteworthy, the …

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