The price of Petroleum Texas intermediate (WTI) shot up 6.01% at the opening of this Monday, up to US$80.22 a barrel, above the barrier of 80 dollars, after the OPEC+ alliance confirmed a cut of 1, 66 million barrels per day as of May. At 1:00 p.m. GMT (08:00 a.m. Peru time on Monday, March […]
Tag: OPEC
President of Bolivia advocates for a joint lithium policy for Latin America
Bolivian President Luis Arcesaid on Thursday that he would be willing to design a lithium policy together with other Latin American countries to benefit their economies and protect the lucrative resource of US interventionism. It is estimated that Bolivia has 21 million tons of untapped lithium resources, the largest amount in the world, which are […]
The OPEC agreement helped to face the challenges of the oil market
The general secretary of the OPECMr Haitham al-Ghais said the group’s agreement to cut production helped address challenges facing global oil markets, the Iraqi Oil Ministry said on Tuesday. Al-Ghais, who is visiting Baghdad, added that OPEC’s most important goal is to achieve stability and balance between supply and demand. Last November, given the weakening […]
Advancement of the Chinese economy would be greater than expected and will boost the demand for oil, according to the IEA
The International Energy Agency maintains that if the Chinese economy recovers, it will be necessary for the OPEC+ countries to analyze their production policies, currently reduced by 2 million barrels per day. The Chinese economy, the world’s second-biggest oil-consuming country, could be about to experience a stronger-than-expected rebound that would boost demand for oil and […]
Germany urges OPEC to increase production and warns not to profit from sanctions
German Economy Minister Robert Habeck has joined Western calls for OPEC to increase oil production, saying the Gulf countries should not benefit from global sanctions against Russia for its invasion of Ukraine. OPEC heavyweights, Saudi Arabia and the United Arab Emirates, have resisted Western calls, including those from the United States, to use their spare […]
IEA considers OPEC+ decisions disappointing and says it has enough stock
The executive director of the International Energy Agency (IEA) considered the decisions of the members of OPEC + as disappointing, and assured that it has enough ‘stock’ to continue operating in the oil markets, in which prices are through the roof . The members of the Organization of the Petroleum Exporting Countries and their associates […]
Crude is heading for its worst week in more than a decade: WTI barrel closed at $110.60
Black sunset. The prices of Petroleum They closed this Wednesday at the highest since 2011 for WTI and since 2014 for Brent, driven by the war in Ukraine, sanctions against Russia and fears about the supply of black gold. A barrel of West Texas Intermediate (WTI) for April delivery rose 6.95% to $110.60, a peak […]
OPEC+ agreement remains on track despite Russian invasion of Ukraine
Updated on 02/25/2022 09:41 am The deal between OPEC+ oil producers, including Russia, has shown no fissures so far following Russia’s invasion of Ukraine, OPEC+ sources said, and the group is likely to maintain the planned production increase at a meeting next week. week, despite the fact that crude oil has exceeded US$ 100 per […]
Texas oil opens 0.74% lower to $87.61
The price of texas intermediate oil (WTI) opened this Thursday with a decrease of 0.74% and stood at 87.61 dollars a barrel after the decision of Wednesday, February 2, of the Organization of Petroleum Exporting Countries (OPEC) and its allies to slightly increase their oil supply, despite the fact that the rise in crude oil […]
Oil price closes higher in the session prior to the OPEC + meeting
Crude prices closed on a positive note this Monday, after having fluctuated during the first session of the year, just before the OPEC + meeting. A barrel of Brent from the North Sea for delivery in March gained 1.54% to US $ 78.98. While in New York, a barrel of West Texas Intermediate (WTI) for […]