The New York Stock Exchange on Wall Street Wall Street got off to a stable start to a packed week. Investors are eagerly awaiting various quarterly figures from American companies and the Fed’s interest rate decision. – (Photo: AP) – – – – Frankfurt, New York Optimistic prospects from the two technology groups Amazon and … Read more
Jakarta, CNBC Indonesia – Crude oil prices fell again this week due to recession issues. Thus, both West Texas Intermediate (WTI) and Brent crude oil posted declines in 4 of the last 5 weeks. According to Refinitiv data, WTI oil slumped 7.2% to US$ 97.59/barrel, then Brent fell 5.5% to US$ 101.16/barrel. WTI even touched … Read more
Jakarta, CNN Indonesia — World oil prices free fall, the biggest drop since the start of the COVID-19 pandemic, on Thursday (10/3) morning. Decrease oil prices promise driven United Arab Emirates as a member OPEC to increase production to market due to Russian supply disruptions in the midst of US and Western bloc sanctions. Brent … Read more
Jakarta, CNBC Indonesia – Global oil prices have plunged more than 10% which is the biggest daily drop since April last year after the latest variant of Covid-19 raised concerns in the market about the possibility of global travel restrictions that could derail the recovery in oil prices. The new Covid-19 variant, which has been … Read more
Jakarta, CNBC Indonesia – The United States (US) is pressuring OPEC+ to produce more oil to cool soaring prices. However, new problems arise when the oil-exporting cartels don’t have much capacity to raise production faster, even when they want to do so now. OPEC+ has actually opened up production curbs made in 2020 when demand … Read more
– Oil production The US is apparently in talks about tapping oil reserves. – (Photo: dpa) – – – – Washington According to Reuters information, the US government has spoken to important other countries about tapping parts of their respective oil reserves. Such a coordinated move would aim to push oil prices down and stimulate … Read more
OPEC + Group today agreed to continue its July plan to gradually increase oil production, despite calls from customers for faster production growth and concerns about the negative effects of expensive oil on the world economy. The group announced its decision after today’s meeting of the ministers of the member states. Oil prices have risen … Read more
Stocks in Europe are at a record low during this period. Supplies of gas pipelines from Russia and Norway are limited. This is worrying because calmer weather has reduced the production of electricity from wind turbines and aging European nuclear power plants are gradually being taken out of service or more prone to outages. This … Read more
On Sunday, it became clear that the oil cartel Opec + will go in to produce 400,000 more barrels of oil a day in August than they do now, it is stated in the official statement. In July, production was cut by 5.8 million barrels of oil, and in August, the oil cartel will cut … Read more
The world’s largest oil-producing countries agreed on Sunday to continue to increase production moderately from August. OPEC and its allies agreed to increase production by 400,000 barrels a day each month to help the world recover from the pandemic, OPEC said in a statement. “Market development” will be reassessed in December. The agreement envisages postponing … Read more