Crude oil prices were steady to bearish on Tuesday, as the market remained cautious ahead of the Organisation of the Petroleum Exporting Countries (Opec) and its Opec+ partners meeting, as well as the release of US inventories. Thus, Brent crude declined by 2.3% to settle at $89.16 a barrel. Meanwhile, the American WTI crude price steadied at $88.20 a barrel.
read more... 02/02/2022
Oil prices soared to hit one-week high on Tuesday as the statement by President Joe Biden that the administration will tap the Strategic Petroleum Reserve to calm 2021′s rapid rise in fuel prices fell short of some expectations. Hence, Brent crude increased by $2.61, or 3.3%, to settle at $82.31. U.S. WTI crude climbed by $1.75, or 2.3%, to settle at $78.50 a barrel.
read more... 24/11/2021
Norway's Equinor (EQNR.OL) said on Wednesday it plans to invest up to 75 billion Norwegian crowns ($8.80 billion) to develop the Wisting petroleum discovery, set to become the world's northernmost oilfield.
read more... 11/11/2021
Spanish energy firm Repsol started oil production at Norway’s Yme field on Monday, the company said in a statement, applying new technology to bring the North Sea petroleum reservoir back on stream 20 years after it was first abandoned.
read more... 26/10/2021
Oil prices prolonged their rally, to hit a three-year high on Monday following OPEC+ decision to stick with its current output policy as demand for petroleum rebounds. Hence, Brent crude soared by $1.98, or 2.5%, to settle at $81.26 a barrel. U.S. WTI crude settled up $1.74, or 2.3%, to $77.62 a barrel.
read more... 05/10/2021