Oil prices were bearish on Wednesday ahead of the next OPEC+ summit. Meanwhile, the market seemed to ignore the EIA’s weekly report showing a decline in US crude reserves. As a result, Brent oil ended 1% down at $63.54 a barrel and WTI crude dropped by 2.3% to $59.16 a barrel.
read more... 01/04/2021
Oseberg production available for sale of 25.7mn m³/d in January was the highest for any month since gas sales began from the field in September 2000. The field's gas blowdown process has begun, which involves a shift to gas production rather than gas reinjections as it approaches the end of its economic oil-producing life.
read more... 22/03/2021
Crude oil prices edged lower on Wednesday, weighed by a further increase in commercial petroleum stocks in the United States. Brent oil slipped by 0.6% to close at $68.00 a barrel and WTI crude ended 0.3% down at $64.60 a barrel.
read more... 18/03/2021
Crude oil prices edged lower on Friday, weighed by concerns on rising interest rates and the gradual restart of refineries. Hence, both Brent and WTI oil slipped by 0.6% to close at $69.22 a barrel and $65.61 a barrel, respectively.
read more... 15/03/2021
The country’s fall in energy demand is the highest since the Second World War, a new study finds.
read more... 08/03/2021