Crude oil prices rose on Tuesday, January 9 after falling in the previous session, as markets weighed tensions in the Middle East against concerns about demand and increasing OPEC supply. At 1117 GMT, Brent crude futures were up US$1.46, or 1.92%, at US$77.58 a barrel. and West Texas Intermediate (WTI) in the United States improved […]
Tag: oil price
It is not Venezuela: which is the country that produces the most oil in Latin America?
Despite the climate crisis, the international market continues to require large quantities of crude oil, although the idea is that this trend will decrease as renewable energies take their place. According to the International Energy Agency (IEA), world oil production will increase by 5.8 million barrels per day by 2028. Although at first the countries […]
War in Israel: how would the conflict with Palestine affect PERU economically?
The escalation of violence between the Israeli Army and the Islamist group Hamas has left a devastating toll, with more than 1,800 dead and thousands of civilians affected. The conflict, which is intensifying, raises the question of how this war in the Middle East could affect distant nations like Peru. Hamas, an Islamist military organization […]
Oil reaches maximum levels of 2023 amid expectations of a shortage in supply
This Thursday, September 14, the oil prices reached their highest point of the entire year, iDriven by tighter supply prospects, which prevailed over concerns related to weaker economic growth and rising U.S. crude oil inventories, according to Reuters. At 11:24 a.m. (CET) (15:24 GMT), the price of the Brent oil registered an increase of US$1.74, […]
Oil price rises on expectation of production cuts in OPEC+
The oil prices they went up on monday Given the expectations that the OPEC+ would keep supplies tight and speculation that the US Federal Reserve will end its aggressive interest rate hike campaign. crude oil futures Brent for November they rose 33 cents to US$88.88 a barrel at 11:33 am (15:33 GMT). While US West […]
The largest refinery in Libya resumes its activity after twelve years of closure
The president of the Libyan National Oil Corporation (NOC), Farhat Bengdara, announced on Saturday the reactivation of the Ras Lanuf complex, one of the main oil industries that has a petrochemical plant and the largest refinery in the country. The complex, capable of processing 220,000 barrels of oil per day (bpd), will begin operating at […]
Morgan Stanley raises oil demand growth estimate to 36% by 2023
“Mobility indicators in China, such as congestion, have been increasing steadily,” the bank said. Morgan Stanley raised its estimate of growth in global oil demand for this year to around 36%. For this he cited the growing momentum of the Chinese reopening and the recovery of aviation, but pointed to the increase in Russian supply […]
Fuels: wholesale prices rose by up to S/ 0.94 per gallon this week
Most of the wholesale prices of the main fuels registered this week increases of up to S/ 0.94 per gallon, according to the latest report from Petroperu. The largest weekly increase was found in 95 and 97 octane gasoline, which rose S/ 0.94 to S/ 20.94 and S/ 20.80 per gallon, respectively. Meanwhile, gasolines of […]
Osinergmin reports a drop of up to S/ 1.04 in fuel reference prices for this week
The reference prices of the main fuels register their seventh week on the decline and fall to S/ 1.04 this Monday, July 25, 2022, according to the latest report from the Supervisory Agency for Investment in Energy and Mining (Osinergmin). The biggest drop of the week is noted in 97 octane gasoline, which goes from […]
Petroperú: rises in the price of vehicle diesel and LPG respond to speculation
Petroperu recalled this Friday that vehicular diesel and bottled LPG are not considered within the group of fuels whose price rose due to the war between Russia and Ukraine. This is because vehicular diesel (B5 S-50 UV) and bottled LPG are within the Fuel Price Stabilization Fund (FEPC), so they maintain their prices at S/11.54 […]