EghtesadOnline: Oil fell more than 2% on Monday, extending last week’s losses as growing cases of Covid-19 in the United States and Europe raised worries about crude demand, while the prospect of increased supply also hurt sentiment.
EghtesadOnline: Oil byproducts worth $100 million were traded in the international ring of the Iran Energy Exchange in the month to October 18.
EghtesadOnline: World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits.
EghtesadOnline: Oil prices were down 3% on Friday after Donald Trump tested positive for Covid-19 and negotiators failed to agree a US stimulus package just as rising global oil output threatens to overwhelm a weak price recovery.
EghtesadOnline: Oil prices dipped on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with the main crude benchmarks on track for their first monthly falls in multiple months after slipping last week.
EghtesadOnline: Oil prices edged higher on Friday but were set for a weekly decline due to mounting worries about the impact on fuel demand of a widespread resurgence in coronavirus infections, as well as some concern about the likely return of exports from Libya.
EghtesadOnline: Oil prices rose on Monday as a tropical storm in the Gulf of Mexico forced companies to evacuate rigs and halt production, but gains were kept in check by wider concerns about excess supply and falling fuel demand.
EghtesadOnline: It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the organization’s six decades as a dominant force in global oil markets.
EghtesadOnline: Three petrochemical projects became operational in the past week and will help complete the value chain of the key industry as the country gradually moves away from an oil economy to exporting value-added products.
EghtesadOnline: Oil prices fell for a second day on Friday, pressured by a surprise rise in US stockpiles as the coronavirus pandemic continues to erode demand for fuels.