A rush by China to sign new long-term liquefied natural gas deals promises to give the nation even more control over the global market at a time when competition for cargoes is booming.
read more... 20/02/2023
OPEC and the International Energy Agency both increased their demand forecasts for the year on Wednesday, shaking off the U.S. Energy Information Administration (EIA) report of a large increase in U.S. crude inventories, which resulted in only a slight decline in oil prices. Hence, Brent crude oil edged down at $85.38 a barrel.
read more... 16/02/2023
Global oil demand is set to increase by 2 million barrels per day (bpd) this year, pushed up by growth in Chinese consumption after the reopening, the International Energy Agency (IEA) said on Wednesday as it raised its 2023 demand growth estimate by 100,000 bpd from last month’s forecast.
read more... 16/02/2023
Oil prices fell on Tuesday after the United States announced that it will be reducing its strategic crude reserves, resulting in a large influx of oil onto the market despite weak demand. Thus, Brent crude oil decreased by 1%, settling at $85.58 a barrel.
read more... 15/02/2023
Oil prices had a bullish evolution on Wednesday due to expectations that China's increased consumption of crude oil will further tighten the supply-demand balance in the market. Consequently, Brent crude rose by 1.7% to $85.09 a barrel and WTI oil increased by 1.7% to $78.47 a barrel.
read more... 09/02/2023