Nigeria is losing $1,000 per barrel of crude oil it exports due to a lack of refining capacity, highlighting the challenges facing the country's oil industry.
My expectation under a scenario where there is a peak in 2025 with perhaps an undulating plateau from 2023 to 2028 (peak year could really be any year in this range) is that oil prices will rise quite a bit maybe rising to $175 per barrel as the price will serve to ration oil to it...
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oil companies were looking back at prices of over $100 per barrel in 2013. They were saying that $100+ prices were too low to provide adequate funds for reinvestment in new fields. Now prices are in the $65 range, which is even farther below the desired level. ...
Macroeconomic Concerns Cap Crude Prices Published 29 October 2024 | viewed 4,538 times Oil prices failed to recover from the steep sell off on Monday and Brent is now hovering just above $71 per barrel. Surge in Geopolitical… Florida Restricts Port Activity as Hurricane Milton Hits Category 5...
The G-7 countries and Australia reached a consensus to set the maximum price of seaborne Russian crude oil at $60 per barrel, according to a joint statement. The announcement followed the European Union's agreement to cap the price of Russian oil at the same price. ...
As the price of oil continues to hover around five-year lows, investors are scrambling to make sense of Saudi Arabia's oil policy. Data released late Monday showed the world's largest oil exporter cut itsprices for February crudeshipments bound for the United States and Europe, while raising...
The OPEC cartel recently agreed to pump 1 million barrels more crude oil per day. Trump's claim of a 2-million-barrel increase for Saudi Arabia alone does not specify a timeframe. There was no immediate acknowledgment from the Saudi Royal Court that the conversation took place. Officials...
Oil prices In early July, the U.S. price for crude traded at around $83 per barrel, according to AAA. Since then, the price has dropped 8%. The biggest weekly drop happened last week when oil prices fell nearly $3 per barrel. ...
Crude oil prices remained relatively consistent throughout December, trading between $71 and $74.75 per barrel. Combined with November’s similarly stable range of $71 to $76, this suggests a continued period of stability for pump prices heading into early 2025. Interestingly, in the final days...