Tag: oil price

Monday, April 3rd 2023 - 09:42 UTC
OPEC+ countries announce cut in output to keep price stable

Oil-producing countries grouped under OPEC+ Sunday announced a voluntary cut in crude output of around 1.15 million barrels per day (bpd) in addition to a 2-million reduction agreed upon in October to boost prices, it was reported. The measure will come into effect in May and last until the end of this year.
Friday, March 17th 2023 - 00:44 UTC
With the collapse of Credit Suisse, oil prices continue to slide, 10% in a week

Oil prices continued their slide on Wednesday after another banking fallout unsteadied the market further. WTI plunged 4.21% on Wednesday, falling below US$ 70 for the first time since December 2021 to US$ 68.33 per barrel ET. Brent Crude fell over 3.94% to US$ 74.40, for a loss of US$ 3.05 per barrel.
Tuesday, April 26th 2022 - 09:43 UTC
Guyana's first million barrels sale from the Liza Unity production platform

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.
Monday, March 14th 2022 - 20:42 UTC
Fuel at Argentine pumps goes up for the second time this year

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.
Friday, March 11th 2022 - 08:41 UTC
Petrobras increases price of fuel for distributors after 57 days

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.
Saturday, February 5th 2022 - 09:42 UTC
WTI crude surges above US$ 92 on Texas freezing weather

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.
Thursday, February 3rd 2022 - 09:51 UTC
OPEC+ confirms March output increase; oil remains bullish at US$ 90 since several members can't deliver

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.
Thursday, October 14th 2021 - 14:58 UTC
Putin anticipates the price of crude could reach US$ 100 a barrel

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.
Sunday, October 10th 2021 - 19:41 UTC
US will not release strategic reserve and Brent oil climbs to US$ 83 the barrel

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.
Monday, November 9th 2020 - 09:21 UTC
Petrobras expects increased production from the pre-salt offshore basin

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.