The price of Brent will rise in the short term, reaching up to 90 dollars per barrel if China recovers and the actions taken by the President of the United States Federal Reserve, Jerome Powell, prevent a recession in the United States.
The general director of the strategic consultancy Tempos…
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oil
OPEC+ will keep pumping cut until 2024
Vienna hosted this Sunday the meeting of the OPEC+ oil and energy ministers, who agreed to extend the cut in current oil pumping for another year, until 2024.
The representatives of the 23 countries that make up the group also made…
OFAC authorizes limited transactions of US firms with PDVSA
The Government of the United States announced this Tuesday, through OFAC, the authorization of some transactions of four US firms with the state oil company Petróleos de Venezuela (PDVSA), prohibited since November 2018, while maintaining…
Venezuela and Iran sign agreements on oil, gas and petrochemicals
The state oil company PDVSA signed several memorandums of understanding with Iran, regarding oil, gas and petrochemicals. These are the first binational initiatives after the resignation of Tareck el Aissami from the Ministry of Petroleum.…
Brent Crude price is below USD 71
This week begins with a downward marker in the value of Brent Crude, which for the first time since 2020 is below USD 71.
According to data from the ICE (London) stock market, the price of Brent has been showing a downward trend. In this…
Oil production increased to 30 million barrels per day
The Organization of the Petroleum Exporting Countries (OPEC) released its monthly report, noting that oil production has risen to 30 million barrels per day, representing an increase of 117,000 barrels per day since January. The additional…
Chevron’s contribution to crude oil production in Venezuela is 87 thousand bpd
The expert on the oil issue Rafael Quiroz has indicated that the contribution of the Chevron company to oil production in Venezuela amounts to 87,000 barrels per day.
The economist pointed out on Tuesday that, despite this figure, the US…
Texas leads renewable energy business
The state of Texas was at the time the starting point for the extraction and commercialization of oil in the United States. It now leads the renewable energy market.
According to recent reports, windmills and solar panels are now…
Shell may have moved to the United States
The executive leadership of the Anglo-Dutch oil company Shell came to consider in 2021 the possibility of transferring the headquarters and the listing of the company to the United States, according to knowledgeable sources revealed to the…
OPEC+ maintains its production plans
The Joint Ministerial Supervision Committee (JMMC) of OPEC+, a group formed by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, has determined to maintain the 'status quo' in oil production, as…
Oil demand will exceed 100 million barrels
The International Energy Agency (IEA) expects global oil demand to grow by 1.9 million barrels per day (mb/d) in 2023, to a record 101.7 mb/d in total.
Regarding the data for 2022, the demand for crude oil by the OECD countries "collapsed"…
OPEC: oil demand will grow until 2035
In its most recent report, OPEC forecasts a sustained increase in demand for crude oil until 2025, taking as a reference the requirements in the transport and technology sectors.
The report of the Organization of Petroleum Exporting…