MercoPress, en Español

Montevideo, September 25th 2018 - 05:39 UTC

Tag: oil price

  • Friday, September 14th 2018 - 09:07 UTC

    US, the world's top crude oil producer, but global geopolitical uncertainty prevails

    EIA expects U.S. crude oil production, most of it light sweet crude, will continue to exceed Russian and Saudi Arabian crude oil production in 2018 and 2019

    The U.S. Energy Information Administration (EIA) said that the U.S. likely surpassed Saudi Arabia and Russia earlier this year to become the world’s top crude oil producer. The EIA based its disclosure on preliminary estimates in its Short Term Energy Outlook which is released every month.

  • Tuesday, September 11th 2018 - 14:57 UTC

    Hunger increases and affects 39 million people in Latin America

    FAO reported that the growth of hunger in the Latin American region grew marked especially by the humanitarian crisis experienced in Venezuela, where undernourishment reached 3.7 million

    Hunger reached 821 million people in 2017 worldwide, of which about 39 million are Latin American, according to the UN Food and Agriculture Organization (FAO). The figure represents a deterioration of 6.1% in Latin America and the Caribbean compared to previous years and could be due to the economic slowdown in South America, especially marked by the case of Venezuela, the UN agency said on Tuesday.

  • Tuesday, September 11th 2018 - 08:13 UTC

    Argentina raises 17% price of biodiesel used in domestic fuel mixes

    The government sets the price of domestic biofuels, and mandates diesel fuel mixes sold in Argentina contain 10% biodiesel

    Argentina raised the price of biodiesel used in domestic fuel mixes in response to a sharp devaluation in the Peso currency and new taxes on primary exports, the government said in its official gazette on Monday.

  • Friday, August 31st 2018 - 08:22 UTC

    BP, Shell, Total to bid in Brazil's pre-salt auction

    Brazil is offering four blocks in this auction—Saturno, Titã, Pau-Brasil, and Sudoeste de Tartaruga Verde—in the Campos and Santos basins

    Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt layer, ANP announced on Wednesday.

  • Wednesday, August 22nd 2018 - 08:49 UTC

    Oil price war to begin: Saudi Arabia and Iran reignites the market

    Iran has slashed its official selling prices (OSPs) for all grades to all markets for September, looking to monetize what could be its last oil sales to some markets

    The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

  • Saturday, July 28th 2018 - 15:27 UTC

    Strong Dollar could cap oil prices

     The problem for many emerging markets is that oil prices have been going up at the same time. Typically, oil prices trade inversely to the U.S. dollar

    By Irina Slav for - The strength of the U.S. dollar poses an obstacle to further gains in oil prices. President Trump's trade war with China, which is still in its early stages, has already battered the Yuan.

  • Saturday, July 14th 2018 - 07:48 UTC

    Venezuela’s oil crisis gets worse: Production keeps falling

    The problems plaguing Venezuela’s oil industry are well-publicized, but the situation continued to deteriorate in June

    Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the month, pointing to a grim near-term future that could see total production dip below 1 million barrels per day (mb/d) by the end of the year.

  • Friday, July 6th 2018 - 08:16 UTC

    The new oil cartel threatening OPEC

    China and India account for 17% of global oil consumption and they are the ones that would be the hardest hit if prices rise as a result of OPEC's actions.

    When reports emerged that India and China are in talks about forming an oil buyers' club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying.

  • Wednesday, May 30th 2018 - 08:58 UTC

    Truckers union calls an end to the crippling strike, but some still resist

    The call by the National Confederation of Autonomous Transporters was a sign that the 9-day strike was starting to wind down despite sporadic blockages

    One of the main unions behind a crippling truckers' strike in Latin America's largest nation on Tuesday called on its members to return to work, warning that failing to do so would erode hard-won gains.

  • Friday, May 18th 2018 - 08:24 UTC

    Oil hits US$ 80, its highest level since 2014; London's FTSE on new all time-high

    Higher oil prices pushed the shares of energy firms in European stock markets higher, helping London's FTSE to set a new all-time high

    Benchmark oil contract Brent North Sea hit its highest level since late 2014 on Thursday, breaching US$ 80 per barrel, with some market players predicting it could rise all the way to US$ 100. Higher oil prices, in turn, pushed the shares of energy firms in European stock markets higher, helping London's FTSE to set a new all-time high, and the Paris CAC to establish a fresh 2018 peak.