Oil
Brent crude oil futures drop 39 cents
Oil prices fell Monday after Saudi Arabia slashed crude oil contract prices for Asia, rekindling concerns about the demand outlook. The Brent crude oil futures fell 39 cents to close at $ 72.22 a barrel. The US crude oil West Texas Intermediate last traded 40 …
Due to lack of money: Libyan company stops oil production
The Arabian Gulf Oil Company, a subsidiary of the Libyan National Oil Corporation (NOC), has stopped oil production due to lack of money, reports Arab News, citing the company's Facebook page. AGOCO warned late Thursday that it would cease oil production if it …
Hope in central banks makes up for worries over delta variant
European stocks held near the highs reached earlier in the month on Monday as hopes that continued central bank support would help the economic recovery offset concerns over rising cases of the Delta COVID-19 variant. The UK markets were closed for a public …
Oil is stabilizing as Hurricane Ida weakened, OPEC + in focus
Oil prices stabilized on Monday, relinquishing much of its earlier surge to a four-week high as Hurricane Ida weakened after stalling oil production in the Gulf of Mexico and OPEC + a planned hike Promised oil production. Within 12 hours of arriving at the …
Crude oil production down by 400,000 barrels
Mexico's state-owned oil company Pemex has resumed part of its oil production that was interrupted after Sunday's fatal fire that killed seven people. However, the pace of resumption of production could be slower than expected due to technical issues such as: …
Prices for crude oil slump further
Crude oil prices fell Monday, continuing the heavy losses seen last week amid fears that the recovery in oil demand could be slowed by restrictions related to the Kovid in China. At 9:25 AM ET (1325 GMT), US crude oil futures were up 2.6% at $ 66.52 a barrel …
Viking Energy receives further investment from institutionals
As we recently discovered, the Viking Energy Group Inc. (OTC US: VKIN) is on the verge of a capital-backed expansion on very good terms. Given the trend in the oil and gas markets, this should be considered extremely good news for VKIN stocks. However, the …
Chevron resumes it share buyback program
Chevron (NYSE: CVX) resumes its share buybacks after the company reported higher-than-expected earnings for the second quarter on rising commodity prices. Chevron on Friday reported adjusted earnings of $ 3.3 billion, or $ 1.71 per diluted share, for the …
Chinese data on oil markets lacks transparency
For the first time in eight years, China recorded a year-over-year decline in crude oil imports in the first half of the year, sparking fears in the market that the world's largest oil importer's purchases in the coming months may not be conducive to oil. At …
OPEC+ announces supply boost
OPEC + ministers on Sunday agreed to increase oil supplies from August to cool prices, which have soared to 2-1 / 2-year highs, as the global economy recovers from the coronavirus pandemic. The group, which includes OPEC countries and allies like Russia, …