Oil to Hit $200 if G7 Caps Price of Russian Oil – SEB Group
If the G7 is successful in capping the price of Russian crude oil, the chief commodities analyst at Swedish bank SEB Group predicts that oil prices will surge past $200...
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Oil Prices Soar as OPEC Reports a Drop in Production in May
According to the OPEC Monthly Oil Market Report released on Tuesday, the cartel did not increase output in May as promised but instead it recorded losses for the month. Saudi...
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Brent Falls Below $100 For the First Time Since Mid-March 2022
On Monday, oil prices fell more than 4%, with Brent sliding below $100 a barrel as China's COVID-related lockdowns weighed on-demand expectations while a coordinated large release of oil reserves...
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Oil will Average $79.40 in 2022 – IEA
According to the International Energy Agency, which raised its oil price forecasts for 2021 and 2022, Brent Crude prices are likely to average $79.40 next year. According to the latest...
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Oil Prices will be Double without OPEC+ Intervention – UAE
The United Arab Emirates said on Monday at the Africa Oil Week Conference in Dubai that if it weren't for OPEC+'s concerted actions to manage supply and demand, oil prices...
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Oil Prices Could Reach $100 per barrel Next Year – Iraq Oil Minister
According to Reuters, Iraqi Oil Minister Ihsan Abdul Jabbar Ismaael warned on Wednesday that due to low global commercial supplies, prices could exceed $100 per barrel in the first half...
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IEA Believes Energy Prices Will Continue to Rise without Significant Investment in Clean Energy
The International Energy Agency warns that global energy market volatility and price increases will continue without a significant increase in clean energy investment. Consumer consumption demands must be met by...
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Oil Prices Reach Three-year High as Supply Tightens and Demand Rises
Oil prices rose further on Tuesday, with Brent, the global benchmark for more than half of all crude, reaching a three-year high as demand outstrips supply and stockpiles run low....
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Vitol Predicts Oil Will Trade Above $80 Per Barrel Soon
Vitol Group, the world's largest independent oil trader, anticipates global crude demand to rise by half a million barrels per day this winter as a gas-driven energy shortage prompts a...
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Oil Prices Rose on Monday Amid European Economies’ Reopening
Oil prices rose on Monday, May 24, 2021, kicking off the week on a positive note and continuing the steady recovery of oil prices as major economies across Europe reopen...
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