Oil prices – Page 11 – THE OVAL CIRCLE

S&P upgrades Russia’s economic outlook for 2021

Posted on June 29, 2021June 29, 2021By Editor

S&P Global Ratings expects Russia’s economic growth to reach 3.7% this year. The agency has upgraded its previous forecast of 3.3%, published in March. … Read More >S&P upgrades Russia’s economic outlook for 2021

Ruble strengthens to 11-month high as Russia squeezes out US dollar from its economy

Posted on June 17, 2021June 17, 2021By Editor

The Russian ruble has hit the strongest level against the US dollar since July 2020, as global crude oil prices are on the rise and the country continues to eliminate dollar holdings from its currency reserves. … Read More >Ruble strengthens to 11-month high as Russia squeezes out US dollar from its economy

High global demand sends Russian Urals crude oil price soaring

Posted on May 7, 2021May 7, 2021By Editor

Russia’s Ministry of Finance said on Wednesday that the average price for domestic Urals oil benchmark stood at $62.50 per barrel in April, which is a 340% increase in annual terms. … Read More >High global demand sends Russian Urals crude oil price soaring

Oil climbs over $67 as strong demand in US & China counters concerns over surging Covid cases in India

Posted on May 5, 2021May 5, 2021By Editor

Global crude prices advanced as optimism over heavy demand by the world’s major consumers, China and the US, offset falling demand in India, which is currently battling the second wave of the Covid-19 pandemic. … Read More >Oil climbs over $67 as strong demand in US & China counters concerns over surging Covid cases in India

Oil price could rise to $74 with historic global surplus subsiding

Posted on April 20, 2021April 20, 2021By Editor

The oil inventory glut that amassed during the Covid-19 pandemic is almost gone, Bloomberg reported citing industry data. The tightening could further prop up crude prices, according to expert projections. … Read More >Oil price could rise to $74 with historic global surplus subsiding

China set to buy millions of barrels of ‘cheap’ Iranian crude oil this month

Posted on April 1, 2021April 1, 2021By Editor

China’s crude oil imports from Iran this month could reach close to one million barrels per day (bpd) as the country continues to gobble up ‘cheap’ crude from the Islamic Republic. … Read More >China set to buy millions of barrels of ‘cheap’ Iranian crude oil this month

Maduro’s Oil Bonanza: Under What Conditions Will Energy Giants Return to Venezuela?

Posted on March 25, 2021March 25, 2021By Editor

Oil companies are reportedly considering returning to Venezuela after President Nicolas Maduro signalled that he was ready to end the monopoly of state-owned Petroleos de Venezuela SA (PDVSA) and open the industry up to foreign investments earlier this year, according to Bloomberg. … Read More >Maduro’s Oil Bonanza: Under What Conditions Will Energy Giants Return to Venezuela?

Saudi Aramco profits nearly cut in HALF as pandemic woes cripple oil markets

Posted on March 23, 2021March 23, 2021By Editor

Saudi state-controlled oil giant Aramco said last year’s profits saw a dramatic drop to $49 billion as the Covid-19 pandemic turned 2020 into one of the hardest years for one of the world’s most valuable companies. … Read More >Saudi Aramco profits nearly cut in HALF as pandemic woes cripple oil markets

Oil prices tumble as new Covid outbreak in Europe threatens fuel demand

Posted on March 21, 2021March 21, 2021By Editor

The price of crude continued to slide on Friday for the sixth day in a row. It is down nearly 9% for the week, as a new wave of Covid infections across Europe has led to new lockdowns and doubts over recovery in fuel demand. … Read More >Oil prices tumble as new Covid outbreak in Europe threatens fuel demand

India to cut Saudi oil imports amid escalating standoff over output & diversification drive

Posted on March 18, 2021March 18, 2021By Editor

Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, Reuters has reported, citing its sources. This comes after calls from India to increase crude production were ignored by OPEC. … Read More >India to cut Saudi oil imports amid escalating standoff over output & diversification drive