Congo confirmed its commitment to the Organization of the Petroleum Exporting Countries (OPEC), days after its neighbor Angola decided to withdraw from the organization. Bruno Jean-Richard Etoua, the Congolese Minister of Oil, said in a post on the LinkedIn platform: “The Republic of the Congo confirms its firm commitment to the strategic policies established by … Read more
Marwa Al-Ghoul wrote Friday, December 22, 2023 02:00 PM I continued Oil pricesIt rose today, Friday, to record $80.07 per barrel in futures contracts for international crude oil. BrentUS West Texas Intermediate crude futures also recorded $74.59 per barrel. In a related context, Angolan Oil Minister Diamantino Azevedo said that his country will withdraw from … Read more
Amid disagreements over oil production quotas… Angola decides to withdraw from OPEC Announcement Angola announced Thursday that it had decided to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) amid disagreements over production quotas, considering that the time had come to “focus more” on its own goals, the Minister of Natural Resources announced … Read more
The Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism about the fundamental factors that will affect the oil market in 2024. The organization said on Wednesday that the recent decline in prices was due to “exaggerated concerns” about demand, while it maintained its relatively high expectations for oil consumption in 2024. Brent crude … Read more
In the absence of a consensus on the proposal to “dispense” with oil, gas and coal, it is likely that the duration of the United Nations climate change conference COP28, held in the Emirates, will be prolonged, after its work on Tuesday exceeded the time specified for its conclusion. The reason for this is mainly … Read more
Publish websiteOil PriceThe American newspaper reported warnings that a new price war was looming on the horizon of the oil market amid escalating tensions between oil-producing countries. The website said, in its report translated by “Arabi 21,” that US crude oil production broke another record in September, which imposed additional pressure on the OPEC Plus … Read more
West Texas crude oil (WTI) contracts in New York closed down more than 2% on Friday (Dec. 1) after adjusting to fluctuations this week. Meanwhile, investors are still keeping an eye on the situation of the latest round of oil production cuts in the OPEC+ group. and are concerned about stagnant manufacturing activity around the … Read more
Everyone is awaiting special and exceptional surprises at the third session of the Muhr Jan Red Sea International Film Festival in Jeddah, Saudi Arabia, in terms of participating films and guests of honor, including international stars and honored stars. Global presence Hours before the start of the new session’s activities, international star Will Smith came … Read more
Italia Image not available Oil, OPEC+ cuts another million barrels a day 1′ reading OPEC+ reached an agreement to make production cuts of an additional 1 million barrels per day and Saudi Arabia agreed to extend its output cuts by 1 million barrels that were due to end on December 31. The Wall Street Journal … Read more
Oil prices continued to rise today, Thursday, November 30, in light of OPEC+ decisions that are expected to reduce production according to the New Year’s policy. Today, the price of Brent crude oil traded at $82 per barrel, after rising by approximately 4% during the previous two sessions, and the price of West Texas Intermediate … Read more