Tag: Crude Oil

May 25
Oil prices raise Iraq’s cash reserves to 90 billion dollars by the end of 2022

Iraq is preparing to reap many profits from the rise in oil prices, which have been trading above the $100 per barrel barrier since the beginning of this year. Iraq expects that there will be no budget deficit, supported by the rise in crude prices, with financial savings that will be directed to a number […]

May 24
Indian crude processing increases in April as low-cost Russian oil boosts returns.

Indian crude processing increases in April as low-cost Russian oil boosts returns. According to government data released on Tuesday, Indian refiners’ April crude oil throughput was 8.5 % higher year on year, as refiners ramped up runs to take advantage of high returns from discounted Russian oil purchases. According to the data, crude oil throughput […]

May 23
Oil prices rise 1%, and Brent crude is near $114

Oil prices rose about 1% during trading on Monday, with the increase in demand in the United States for fuel and the scarcity of supply. This comes as Shanghai, the economic capital of China, is happy to reopen its doors after a two-month closure; This has raised concerns about a sharp slowdown in growth. This […]

May 18
Oil prices rise with the easing of Corona restrictions in China.. Brent crude exceeds $113

Oil prices rose today, Wednesday, May 18, on expectations that the easing of restrictions imposed to combat the Corona virus in China will lead to a rise in demand, as industry data showed a decrease in US crude stocks. And the authorities in China allowed about 864 financial institutions in Shanghai to resume work, one […]

May 16
Oil prices are falling due to fears of a lack of supply after the ban on Russian crude

Oil prices fell in early trading, today, Monday, May 16th; This limited investors’ gains, due to concerns about supply at a time when the European Union is preparing to ban the import of Russian oil, and also with a limited increase in OPEC production. The two benchmarks, which gained about 4% last Friday, had earlier […]

May 12
Equinor announces sixth oil discovery in the Norwegian shelf It is expected to contain 62 million barrels

Equinor announced its sixth oil discovery on the Norwegian continental shelf this year, it said in a press release on its website on Monday. The new discovery comes in partnership with the Norwegian companies “Bigning Upstream” and “Longboat Energy” of Norway. Expectations indicate that the discovery, which is the “6407/1-9-Egyptian Vulture” well, contains confirmed quantities […]

May 12
Oil prices are down 2%, and Brent crude is below $106

Oil prices are down 2%, and Brent crude is below $106 Oil prices fell more than 2% during Thursday’s trading; Economic and recession fears have roiled global financial markets, outstripping supply concerns and geopolitical tensions in Europe. Oil prices are under pressure this week, along with global financial markets, amid concerns about rising interest rates, […]

May 11
Oil prices rise 3%, and Brent crude is above $104

Oil prices rose about 3% during trading today, Wednesday, May 11, 2022, after losses of nearly 10% during the previous two sessions. The rally is supported by concerns about supplies; The European Union is working to win support for a Russian oil embargo. Major producers have warned that they may struggle to plug the deficit […]

May 09
Oil prices are falling globally due to fears of recession and the closure of China

Global oil prices fell on Monday, May 9, along with stock markets in Asia, weighed by weak Chinese data and fears of a global recession that could double oil demand. Oil prices fell as investors looked ahead to European Union talks on a Russian oil embargo, which could result in an agreement that could put […]

Apr 29
Oil prices rise 1%.. Brent crude is near $ 109

Oil prices rose about 1% during trading today, Friday, for the fourth consecutive day, as fears of disruption of Russian supplies outweighed the closures in China, the largest importer of crude in the world, due to the outbreak of the Corona virus. Yesterday, Thursday, oil prices ended more than 3% higher, after volatile trading, with […]