The Saudis announced this after Sunday’s meeting in Vienna. The rest of the countries agreed to extend earlier supply cuts until the end of 2024. OPEC+ accounts for roughly 40 percent of global oil production and 60 percent of exports. The group’s political decisions can therefore have a major impact on prices. At the beginning … Read more
During this time, the best-selling Natural 95 became cheaper by about one crown per liter, when on Sunday it was sold for an average of CZK 36.97, according to CCS. Diesel has become cheaper by almost three crowns per liter since February. “It will become more expensive from the end of next week. For gasoline, … Read more
“The recent market upheaval, when the price of Brent fell to 70 dollars per barrel, probably scared OPEC+ a little, because the bank and the other upheavals create uncertain economic prospects with a possible collapse of oil prices,” SEB bank economist Dainis Gašpuitis explains to the online magazine KLIK. He is convinced that the reduction … Read more
Russia has lost its leverage over Europe and the Western world, and thus its place in the global energy market. Since February 24 of last year, when Putin announced the invasion of Ukraine, one of the main trump cards of the Kremlin to break the spirit of Western support for Ukraine was energy resources. Campaigns … Read more
Fuels are now cheaper in the Czech Republic, but this is apparently just the “calm before the storm”. Professional oil traders agree that the market underestimates the impact of the post-covid opening of the Chinese economy in particular on the world prices of the strategic raw material, and therefore also on the prices of fuel … Read more