Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

Current oil prices at around $80 per barrel adequately reflect the situation on the market, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 in an interview after the OPEC+ meeting, Oilprice anaylsed. There are a number of both bullish and bearish factors that will determine where prices will go in …

Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer, Aramco, raised the official selling price for its crude, suggesting demand remains strong amid tighter supplies. Brent crude was up by 90c, or 1.1%, at $83.64 a barrel, after dropping nearly 2% last week. US oil gained 87c or …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 187 thousand bpd in the last week. EIA stated in a report, “The United States oil exports recorded 5.319 bpd in the first week of November.” The top three source countries …

U.S. President Joe Biden is considering a release from the Strategic Petroleum Reserve (SPR) as a possible move to reduce gasoline prices in the United States, after OPEC+ ignored on Thursday calls for putting extra barrels on the market, U.S. Energy Secretary Jennifer Granholm told Bloomberg on Friday. “The SPR …

Current oil prices at around $80 per barrel adequately reflect the situation on the market, Russian Deputy Prime Minister Alexander Novak told local TV Rossiya-24 in an interview after the OPEC+ meeting. There are a number of both bullish and bearish factors that will determine where prices will go in …

Saudi Arabia sent another bullish jolt into the oil market a day after OPEC+ ignored Biden’s calls for more oil, raising the official selling price of all the nation’s crudes to all buyers. Aramco increased pricing for its key Arab Light grade of crude for Asian customers in December by …

The largest oil exporters in the Middle East, key members of OPEC, are reaping the benefits of the rally in crude oil prices. At the same time, they are recouping market share in the most important oil market, Asia. For the first time this year, the Middle East’s share of …

U.S. President Joe Biden blamed a surge in oil and gas prices on a refusal by OPEC nations to pump more crude. Speaking at a climate summit in Glasgow, Scotland, Biden also attributed higher inflation to the coronavirus slowing down the supply chain.

Oil prices were steady on Tuesday as producer group OPEC undershot its expected pace of output increases last month, while the world’s top oil consumer China ramped up operating rates to meet a spike in diesel demand. Brent crude futures edged higher by 3c to $84.74 a barrel by 5.07am …

For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ alliance, warned that $100 a barrel was a distinct possibility, the alarm …