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Energy Week Review

Oil Crude oil prices have been volatile this year, which is probably also due to speculation, as the price moves with almost any news related to Ukraine or Russia. However, the trend in oil prices remains upward, even though the…

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IEA Slashes Forecast for Global Oil Demand in 2022

The International Energy Agency (IEA) has significantly downgraded its forecast for global oil demand in 2022. The reason for this is the war in Ukraine, which could cut off Russian oil from the world market. Accordingly, rising commodity prices will…

lighted buildings near body of water

Oil is Expensive! OPEC+ Meeting under Special Pretext

The Organization of the Petroleum Exporting Countries (OPEC) and allies (Russia) will meet on Wednesday to decide the oil production policy for the coming month. The meeting is under special pretext because oil prices are as high as they have…

oil platfrom rig in the middle of the ocean

BRENT Price Peeks at the $90 Level

Oil prices rose again today in the morning in Asia. Attacks on the United Arab Emirates and the wobbly OPEC + support continue to lift oil prices. WTI crude oil rose 0.74%, or 62 cents, to $84.31 a barrel. The…

lighted buildings near body of water

OPEC+ Turns Down U.S.

Saudi Arabia, OPEC’s largest producer, has rejected calls to increase oil supplies from oil-exporting countries and their allies (OPEC+), citing economic uncertainties. However, the increase of 400,000 barrels per day already agreed in the middle of the year will be…

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