Oil prices – Page 13 – THE OVAL CIRCLE

Time for record global oil demand may have already passed, Russia says

Posted on December 7, 2020December 7, 2020By Editor

Days of peak oil consumption might be over for the global economy and the trend may impact Russia’s budget revenues, the country’s Deputy Finance Minister Vladimir Kolychev has warned. … Read More >Time for record global oil demand may have already passed, Russia says

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OPEC+ likely to prolong existing oil cuts despite rising prices – media

Posted on November 29, 2020November 29, 2020By Editor

Members of the Organization of Petroleum Exporting Countries (OPEC) and their allies led by Russia, known as OPEC+, may further hold back oil supplies amid concerns over demand. … Read More >OPEC+ likely to prolong existing oil cuts despite rising prices – media

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Oil prices surge amid hopes coronavirus vaccine means return of global travel

Posted on November 11, 2020November 11, 2020By Editor

Crude prices continued to climb higher on Wednesday following the news of potentially effective Covid-19 vaccines developed in Russia and the US. Brent crude soared above $45 a barrel, marking a 15 percent increase from last week. … Read More >Oil prices surge amid hopes coronavirus vaccine means return of global travel

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Libya throws ONE MILLION barrels of oil into already oversupplied market

Posted on November 8, 2020November 8, 2020By Editor

Libya’s crude output has exceeded one million barrels per day since its oil industry came back online. However, the inflow may create shockwaves in the global oil market as demand has not fully recovered from the Covid-19 crisis. … Read More >Libya throws ONE MILLION barrels of oil into already oversupplied market

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Oil investments are drying up as crude demand falters

Posted on November 3, 2020November 3, 2020By Editor

The COVID-19-induced shortage in key oil investments could spell trouble for the entire industry for years to come. … Read More >Oil investments are drying up as crude demand falters

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Oil prices hit 4-month low over fear new coronavirus lockdowns will crush demand

Posted on October 30, 2020October 30, 2020By Editor

Crude prices fell for the second straight session, plunging by nearly four percent on Wednesday as rapidly rising numbers of Covid-19 infections worldwide spur oversupply concerns. … Read More >Oil prices hit 4-month low over fear new coronavirus lockdowns will crush demand

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Saudi Arabia’s economy hit hard by oil price crash

Posted on October 3, 2020October 3, 2020By Editor

Saudi Arabia’s economy shrank by 7 percent, with the unemployment rate hitting a record high in the second quarter as the combined effect of the oil price crash and the Covid pandemic hit the world’s largest oil exporter hard. … Read More >Saudi Arabia’s economy hit hard by oil price crash

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Gulf nations are desperate for higher oil prices

Posted on September 29, 2020September 29, 2020By Editor

Despite claims that their economies can survive low oil prices, Gulf nations are grappling with a massive half-trillion-dollar budget deficit. … Read More >Gulf nations are desperate for higher oil prices

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Saudi energy minister threatens oil price gamblers with ‘ouching like hell’ and market destabilization

Posted on September 19, 2020September 19, 2020By Editor

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, has promised to punish excessive betters in the oil markets with an “ouching like hell” by way of externally influencing the market. … Read More >Saudi energy minister threatens oil price gamblers with ‘ouching like hell’ and market destabilization

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Saudi Aramco is now suffering the consequences of failed oil price war

Posted on September 13, 2020September 13, 2020By Editor

It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons. … Read More >Saudi Aramco is now suffering the consequences of failed oil price war

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