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Rosneft begins hunt for contractors for massive Vostok Oil project
Rosneft has kicked off meetings with foreign contractors and suppliers for its massive Vostok Oil project, the Russian energy producer said on Monday.
read more... 08/06/2021
Daily (02.06.2021): Oil prices continue to climb, with Brent above $70 a barrel amid as OPEC+ sticks with plans to raise output
Crude oil futures extended gains on Tuesday as cartel OPEC+ agreed at its latest ministerial meeting to increase output as planned over the next two months. Hence, Brent crude increased by 93 cents, or 1.3%, to settle at $70.25 a barrel. U.S. WTI crude rose by 1.2% to end at $67.72 a barrel.
read more... 02/06/2021
Daily (31.03.2021): Oil prices pulled back by over 1% on Tuesday as Suez Canal opened, focus shifts to OPEC+ meeting
Crude oil prices retreated on Tuesday amid a stronger dollar and as ships resumed moving through the Suez Canal, with traders turning their attention to a meeting of the OPEC+ later this week. Hence, Brent crude declined by 84 cents, or 1.3%, to settle at $64.14 a barrel. Meanwhile, U.S. WTI crude fell by $1.01, or 1.6%, to settle at $60.55 a barrel.
read more... 31/03/2021
Daily (03.03.2021): Oil prices tumbled to two-week lows on Tuesday amid expectations that OPEC will boost output
Crude oil prices remained on the back-foot for the fourth consecutive day on Tuesday amid expectations that OPEC+ producers will ease supply curbs at their meeting later this week as the global oil demand shows signs of recovery from the coronavirus pandemic. Hence, Brent crude dropped by 99 cents, or 1.6%, to settle at $62.70 a barrel, its lowest close since Feb. 12. U.S. WTI crude fell by 89 cents, or 1.5%, to $59.75, its lowest settlement since Feb. 19.
read more... 03/03/2021
Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output
Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.
read more... 02/03/2021