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 sense, future prices for next May are calculated at USD…
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oil
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…
The US announced the release of 15 million barrels of oil
The President of the United States, Joe Biden, announced that the Department of Energy will release this Wednesday 15 million barrels from the country's Strategic Petroleum Reserve (SPR) with the aim of being delivered in December.
Biden…
OPEC+ cut in November equals 2 % of global demand
The recently announced decision by OPEC + to reduce daily production by 2 million barrels will be applied from November. The decision was published in a declaration at the end of the 33rd Ministerial Meeting of Members and non-OPEC Members.…
Barrel of oil stands at 91 dollars
The price of a barrel of Brent oil, a benchmark for Europe, exceeded the quota of 91 dollars before the opening of the markets of the Old Continent with an eye on the meeting to be held this week in Vienna by the representatives of the…
Venezuela will receive 1,220,000 barrels of crude oil from Iran
Venezuela's dependence on Iranian crude continues to grow. In the coming days, tankers from Iran with a cargo of crude oil of some 1,220,000 barrels, in addition to another 2,000,000 of condensate, are expected to arrive on the Venezuelan…