Tag: crude oil

Crude oil, also known as oil or petroleum, is one of the most common and used commodities of all. Its supply and demand dynamics are thus very important for the markets.

Soft economic activity sent crude oil down to year’s support
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Soft economic activity sent crude oil down to year’s support

Possibly lower supply disruptions of crude oil and soft economic activity in the Eurozone sent black gold to test the 95$ price tag.
Russia makes a big deal with Iran
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Russia makes a big deal with Iran

Russia and Iran have agreed on investments worth billions of dollars. Gazprom will help develop oil and gas fields in Iran.
Economic data against Crude Oil
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Economic data against Crude Oil

Commodities are hurt by the situation in the global economy. The economic slowdown has had a negative impact on commodities such as crude oil.
Russia discovers 82 million tonnes of oil in the Arctic
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Russia discovers 82 million tonnes of oil in the Arctic

Russia's state-owned Rosneft has confirmed the discovery of 82 million tonnes of oil in the Pechora Sea in the Arctic.
Why is the price of Crude Oil so volatile?
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Why is the price of Crude Oil so volatile?

High volatility in oil markets continues. The backwardation and dislocation between the financial and physical oil market bring mixed signals.
Nuclear and gas classified as green investments in Europe
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Nuclear and gas classified as green investments in Europe

The EP supports the temporary inclusion of nuclear and gas as green investments. The aim is to support energies replacing oil and coal.
India imposes windfall tax on oil firms
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India imposes windfall tax on oil firms

India has imposed a windfall tax on the country's oil producers and refiners who are exporting more due to high international prices.

Joe Biden wants to suspend the gasoline tax

US President Joe Biden will today call on Congress to approve a three-month suspension of the federal gasoline tax.
Russia became China’s biggest oil supplier in May
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Russia became China’s biggest oil supplier in May

The West doesn't want Russian oil, so exports are going east. Russia's oil imports to China rose 55% year-on-year in May, hitting a record.

China has significantly reduced exports of gasoline

According to Chinese customs data, May gasoline exports fell by 45.5%. This is a year-on-year drop of almost 93%.
OPEC+ falls short of its oil production target
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OPEC+ falls short of its oil production target

The OPEC+ group fell short of its overall oil production target by 2.695 million barrels per day (bpd) in May.
Argentina wants to impose a special tax on its industry
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Argentina wants to impose a special tax on its industry

The aim will be to impose a tax on large companies that have high margins. The oil and gas industry could be hit.