Oil

OPEC has improved its estimate of the fall in oil demand in 2020

The estimate of the fall in oil demand in 2020 is slightly improved compared to the previous month – earlier it was assumed that the demand for oil would decrease by 9.77 million bpd, then the new forecast of the fall – by 9.75 million bpd, to 90, 01 million bpd, according to the monthly OPEC report. The forecast for the growth rate of oil demand in 2021 has not changed and is 5.9…
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Oil

Oil prices went down

The benchmark crude oil prices moved lower during trading on Thursday. Investors are reacting to data that indicated a slowdown in Chinese oil imports in December and a continued rise in coronavirus infections, Dow Jones writes. The cost of March futures for Brent oil on…
Oil

Oil prices drop despite prospects for new stimulus in the US

Benchmark oil prices are declining on Friday, despite expectations of new measures to support the US economy after Joe Biden came to power. US President-elect Joe Biden on Thursday unveiled a new $ 1.9 trillion economic support plan, which, among other things, includes…
Oil

Oil continues to grow on expectations of US Department of Energy data

Benchmark oil prices continue to climb on expectations of the US Department of Energy’s weekly report on energy reserves in the country. The cost of March futures for Brent oil on the London stock exchange ICE Futures by 14:41 Moscow time was $ 56.59 per barrel, which is $ 0.01 (0.02%) higher than the price at the close of the previous session. The price of futures for WTI crude oil for…
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Oil

Oil prices collapse after OPEC Secretary General's statement

Oil prices plummeted on Wednesday after the speech by OPEC Secretary General Mohamed Barkindo. At the beginning of the day, Brent quotes renewed 11-month highs, for the first time since February 2020 exceeding $ 57 per barrel. Brent futures dropped 2% in half an hour amid…
Oil

Black gold is falling in price on maintaining low demand in the United States

Benchmark crude prices are declining amid signs of continued weak demand for refined products in the United States. Oil prices fell on Wednesday, despite data from the US Department of Energy, which showed a 3.25 million barrels drop in oil reserves in the country last week. As noted by S&P Global Platts, market participants are concerned about weak demand for petroleum products. According…
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Oil

Oil hits 11-month high on expectations of US stimulus

Benchmark oil prices hit their highs since February 2020 on Tuesday amid hopes for further support for the US economy. The cost of March futures for Brent oil on the London stock exchange ICE Futures by 14:11 Moscow time was $ 56.43 per barrel, which is $ 0.77 (1.38%)…
Oil

Oil prices rise on data on declining US inventories

Oil prices, which closed Tuesday trading at their highest levels since February 21, 2020, continue to rise on Wednesday on data from the American Petroleum Institute (API), which showed a more significant-than-expected decline in US inventories. The market is also supported by the weakening US dollar and the rapid response by the Chinese authorities to the coronavirus outbreak in the northern…
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