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Montevideo, January 20th 2022 - 16:52 UTC

Tag: OilPrice

  • Friday, April 19th 2019 - 09:29 UTC

    Brazil to put up new pre-salt oil blocks for auction in October

    The blocks, in the pre-salt zone off the Brazilian coast, are part of an area the government awarded for exploration and development to Petrobras a decade ago

    Brazil will hold an offshore oil deposit auction in October featuring blocks that were the object of a long-running dispute with state energy giant Petrobras. Reuters reports, citing Economy Minister Paulo Guedes, that participants in the auction will need to cough up a signing bonus of a total US$26.9 billion for the four blocks.

  • Thursday, May 17th 2018 - 18:02 UTC

    IEA: High Oil Prices “Taking A Toll” On Demand

    Venezuela's production is plummeting, and output is 550,000 bpd below it's agreed upon target as part of the OPEC deal.

    Geopolitics has taken over the oil market, driving oil prices up to three-year highs. The inventory surplus has vanished, and more outages could push oil prices up even higher. Yet, there are some signs that demand is starting to take a hit as oil closes in on $80 per barrel.