hong kong CNN Business — Chinese President Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he is expected to sign billions of dollars in deals with the world’s biggest oil exporter and meet with leaders from across the world. Middle East. The visit is a …
When China and Saudi Arabia meet, nothing matters more than oil | CNN Business Read More »
WTI and Brent crude oil prices fell for a third straight session on Tuesday, with the US benchmark now at its lowest level in a year. First-month Nymex crude for January delivery closed the day -3.5% at $74.25/bbl, its lowest level in nearly a year, while February Brent crude ended at – 4% to $79.35/bbl, …
Oil markets are bearish but the decline is limited | OilPrice.com Read More »
Since the late 1990s, China has been the big beast in global oil markets, driving demand for the oil and other commodities it used to fuel double-digit economic growth every year for many years. then high single-digit growth for years. . As recently as 2017, China’s high economic growth rate still allowed it to overtake …
Lower oil prices on horizon as China enters next phase of Covid crisis | OilPrice.com Read More »
Oil prices soared on Monday morning after OPEC+ decided on Sunday to stay the course on oil production cuts ahead of the implementation of a price cap of $60 on crude oil of Russian origin negotiated by the EU, the G7 and Australia. OPEC+ previously agreed to cut production by two million bpd, or about …
Energy stocks are a big buy right now | OilPrice.com Read More »
London CNN Business — The European Union reached a consensus on the price at which to cap Russian oil just days before its ban on most imports took effect. News of the deal, which had required the approval of recalcitrant Poland, was confirmed on Twitter by European Commission President Ursula von der Leyen, marking a …
Europe agrees to cap Russian oil price at $60 a barrel | CNN Business Read More »
London CNN Business — The European Union reached a consensus on the price at which to cap Russian oil just days before its ban on most imports took effect. News of the deal, which had required the approval of recalcitrant Poland, was confirmed on Twitter by European Commission President Ursula von der Leyen, marking a …
Europe agrees to cap Russian oil price at $60 a barrel | CNN Business Read More »
The Middle East has steadily reaped the benefits of its oil wealth throughout 2022, arguably one of the most successful years for the region as a whole in recent history. Yet the outlook for next year is not so rosy. The global economy is in disarray, with the double whammy of a strong US dollar …
Middle East oil producers under pressure to cut prices again | OilPrice.com Read More »
This week, two documents were published by two ministries: the European Commission in Brussels and the Treasury Department in Washington. The Commission document was a proposal for “a new instrument” to limit excessive gas prices in Europe. That of the Treasury document were guidance on the implementation of a price cap policy for crude oil …
The problem of oil and gas price caps | OilPrice.com Read More »
A combination of rising Covid infections in China, uncertainty over the G7 oil price ceiling and a rise in oil inventories in the United States has driven oil prices lower this week. As oil prices climbed early Friday morning, the rise in bearish sentiment is palpable. Friday, November 25, 2022 With the oil price cap …
Bearish Sentiment Strengthens Once Again in Oil Markets | OilPrice.com Read More »
