Resurgence of Covid-19 in different countries caused a much-needed blow to the international crude oil prices. If this trend goes on for another few days, the crude oil prices would …
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global oil economy
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EconomyInternationalLatest Updates
Global oil demand will increase above 101 million barrels per day in 2023: IEA
by Umar Sohailby Umar SohailSupply from non-OPEC+ producers will lead output increases through the end of next year, while OPEC+ supply could drop with full-force embargoes on Russian oil in the West and producers …
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EconomyInternationalLatest Updates
Goldman Sachs, Citi predict crude oil price at $140/barrel for this summer season
by Umar Sohailby Umar SohailGoldman Sachs this week raised its price target for Brent crude to $140 per barrel from current $125 per barrel price. On Wednesday (June 8), Brent crude, WTI Blends, OPEC …
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InternationalLatest Updates
EU decision to slap ban on oil imports from Russia backfires as it boosts crude oil prices above $123/barrel
by Umar Sohailby Umar Sohail“Agreement to ban imports of Russian oil by the EU covers more than two thirds of oil imports from Russia, cutting a huge source of financing for its war machine,” …
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EconomyInternationalLatest Updates
United States confiscates 0.6 million barrels of Iranian crude oil off Greece coast
by Umar Sohailby Umar SohailIran’s Ports and Maritime Organization said the tanker had sought refuge along Greece’s coast after experiencing technical problems and poor weather, and the seizure of its cargo was “a clear …