Guyana has sold a cargo of one million barrels of its newest crude to ExxonMobil for US$106 per barrel, which was the first share for the government from the newly operational Liza Unity production platform operated by Exxon, according to Tsvetana Paraskova from Oilprice.com.
Argentina's state-run oil company YPF has increased its prices at pumps between 9.5% and 11.5%. It was the second rise this year. Other brands such as Shell have followed suit. The last increase had been in February.
Brazil's Petrobras has increased the price of refined gasoline and diesel for distributors as of March 11. The average price has gone up to R$3.86 (US$ 0.77) for regular fuel and R$4.51 (US$ 0.9) for diesel.
By Tsvetana Paraskova for Oilprice.com – WTI Crude, the U.S. oil benchmark, jumped to over US$ 92 per barrel early on Friday—its highest level since 2014, amid the Russia-Ukraine crisis and a deep freeze in Texas that disrupted some Permian oil production.
By Tsvetana Paraskova for Oilprice.com – In the shortest meeting so far in its history, OPEC+ decided on Wednesday to increase the collective production by 400,000 barrels per day (BPD) in March, keeping unchanged the plan to boost output and pushing Brent above US$ 90 per barrel again with the per-usual modest production hike.
The price of crude could rise to US$ 100 per barrel in coming weeks, anticipated Russian president Vladimir Putin during the Energy Week conference held in Moscow.
By Julianne Geiger for Oilprice.com - The Unite States Department of Energy is walking back previous comments that it was considering a release of the Strategic Petroleum Reserve and a ban on crude oil exports, Bloomberg’s Javier Blas reported on Twitter.
By Tsvetana Paraskova for Oilprice.com – Because of the increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazil’s state oil firm said when it reported its production figures for Q3.
The UK's oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money.
French oil trader Pierre Andurand was catapulted into the spotlight this year after correctly betting that the deadly novel coronavirus would spark a sub-zero oil market collapse. Andurand, the 43-year-old founder of London-based Andurand Capital who runs two multi-million-dollar funds, bet in February that the deadly COVID-19 outbreak could represent a rare black swan event that would send prices into reverse.