Oil rises ahead of interest rate decisions and doubts about OPEC+ supply cuts

2023-12-12 03:46:40 Price action By 0337 GMT, Brent crude futures for February delivery rose 0.33 percent to $76.28 per barrel, while US West Texas Intermediate crude futures for January delivery rose 28 cents, equivalent to 0.38 percent, to $71.59 per barrel. Both contracts settled slightly higher on Monday, with Brent crude rising 19 cents to … Read more

OPEC COP28 Event: Convincing Young People to Support Fossil Fuels

2023-12-10 17:32:37 COP28: Oil producer group OPEC held an event on the sidelines of COP28 negotiations in Dubai on Sunday, aimed at convincing young people to support fossil fuels, the future of which has caused deep divisions among delegates at the summit on climate. Dubbed “Special Day – OPEC and Youth,” the event included a … Read more

Optimism about demand recovery in China is driving oil prices higher

2023-09-18 03:03:16 Analysts at ANZ said in a note that the growth in global oil demand is heading towards recording 2.1 million barrels per day, which is consistent with the expectations of the International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC). Traders are awaiting monetary policy decisions by central banks, including … Read more

Controversy Surrounding Willow Project: President Biden’s Promise vs. Reality

2023-09-08 10:30:22 “No further drilling on federal land,” promised the US President when he took office. In fact, the government is now terminating oil and gas leases in Alaska. But the “Willow Project” continues. Young people in particular are angry. Friends of nature and, in some cases, friends of Alaska are in principle very pleased … Read more