Ángel Alvarado, economist and member of the Venezuelan Finance Observatory, stressed that the incentives that are being granted to the market, together with oil prices rise and the increase in the number of exports that are being developed, are the factors that allow forecasting economic growth for…
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oil prices
Oil prices fall due to OPEC+ uncertainty
Oil price registered a depreciation at the close of the day on July 15 due to the possibility that the OPEC+ alliance agreed to an increase in supply and after knowing an increase in gasoline reserves in the United States, which causes…
Oil price rises after Chinese industrial production increase
Oil prices rose on Tuesday after the growth reached by China's industrial production and the prospect of hurricanes that threaten the Gulf of Mexico which could also affect demand.
"Expectations about a vaccine against Covid-19 and…
Oil demand will grow in 2021
World oil demand will record a record annual increase of 7 million barrels per day next year, although this historic rebound driven by the expected recovery in the economy will be insufficient to return global oil consumption to the level…
Tensions between the US and Iran push rise in the price of crude oil
At the opening of Thursday, April 23, due to the increase in tensions between Iran and the United States, oil prices rose so far at times deprived by difficulties related to the pandemic that until a few days ago had sunk the crude oil…
Speculations about new cuts surround OPEC meeting
The Organization of Petroleum Producing Countries (OPEC) meets for two days to discuss issues inherent in the production quota of its members. This Thursday and Friday is the appointment in Vienna; a meeting full of suspicions about new…
OPEC and allies are committed to market stability
The Organization of the Petroleum Exporting Countries (OPEC) and its allies are committed to the stability of the oil market beyond 2020, with relatively tight physical supplies worldwide, said Mohammad Barkindo, OPEC general secretary, on…
OPEC to stabilize prices in the first quarter of 2019
During the recent OPEC Summit, held in Vienna on December 6 and 7, a majority agreement was reached to reduce the production quota for the beginning of 2019.
In this regard, the Minister of Energy of Kazakhstan, Kanat Bozumbayev, said on…