Oil prices fell by around 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears
The Fuel Price Follow-up Committee at the Ministry of Energy and Industry approved the fuel and diesel prices for July including the value added tax from Monday, July 1.
LONDON: British oil major BP agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years. The deal, which includes interests
Saudi Arabia’s non-oil private sector regained momentum midway through the third quarter of this year. Stronger domestic demand drove a faster upturn in output, which recovered from July’s five-month low.
Global oil demand will return to pre-pandemic levels in two years and reach record heights by 2026 unless governments take swift action to meet climate goals, the International Energy Agency said on Wednesday. Oil markets and the world economy
Brent crude was down 37 cents, or 0.5%, at $67.63 a barrel by 05:35 GMT while US oil was also down 32 cents, or 0.5%, at $64.28 a barrel, having fallen 0.3% the previous session.
US West Texas Intermediate (WTI) crude fell 4 cents, or 0.07%, to $59.96 a barrel by 05:52 GMT while Brent crude was down 10 cents, or 0.16%, to $63.18 a barrel.
Saudi Aramco’s Chief Executive expects rising oil demand in 2021, he said on Sunday, citing Chinese demand approaching pre-pandemic levels while vaccines help other economies to open up.
Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 01:36 GMT while US oil was off by 68 cents, or 1.1%, at $60.74 a barrel.