Following a relatively weak first quarter, a demand recovery thereafter combined with supply uncertainties should see Brent recover to trade in the $90s
crude oil
Posted inNews
OPEC expects higher oil demand growth as China relaxes COVID restrictions
The projection is 100,000 bpd higher than last month’s forecast
Posted inNews
Russia retaliates to Western sanctions; announces oil output cut
The price of Brent crude rose to $86.6 per barrel on the news of the output cut
Posted inNews
Oil prices fall to $80 per barrel on ‘surprise build’ in US crude stocks
Brent crude futures dropped 38 cents, or 0.5%, at $80.30 per barrel.
Posted inNews
World’s largest crude oil exporter reports whopping $27 billion budget surplus
Saudi Arabia recorded its first annual budget surplus in nearly a decade
Posted inNews
UAE, Saudi Arabia slam media reports on OPEC oil output increase
“It is well known, and no secret, that OPEC+ does not discuss any decisions ahead of its meetings,” Saudi Energy Minister said in a statement
Posted inDownstream
Saudi Aramco signs $735 million crude supply deal with China
The deal was sealed during the weekend at the 5th China International Import Expo in Shanghai
Posted inExploration & Production, News
Kuwait ramps up crude oil production to meet increased demand
Kuwait will continue to support efforts to promote market stability, Oil Minister Dr Mohammad Al-Faris said
