The International Energy Agency (IEA) has released its latest oil market report, forecasting a strong recovery in global oil demand in the next two years. According to the IEA, oil …
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oil prices
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Oil prices have been on a downward trend for the past three weeks, as signs of weakening demand from major consumers such as China, the US and Europe overshadow the …
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Saudi Arabia’s energy minister has blamed speculators for the recent drop in oil prices, saying that they are “pretending” that demand is weak and “abusing” numbers. Prince Abdulaziz bin Salman …
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The global oil market is facing a turbulent period as the war in Ukraine has triggered an energy crisis that has disrupted trade flows and exposed the weakness of the …
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Oil prices dropped on Tuesday as investors weighed the uncertain outlook for global oil demand and the Fed’s stance on inflation. The decline came despite the announcement by Saudi Arabia …
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Oil prices rose on Monday after Saudi Arabia and Russia, the world’s two largest oil exporters, reaffirmed their commitment to extra voluntary oil supply cuts until the end of the …
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Oil prices are poised for a second consecutive weekly decline as the Israel-Hamas conflict shows no signs of escalation, and concerns emerge on the demand front. Global benchmark Brent has …
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Oil prices experienced a boost in tandem with the broader financial markets following a signal from the Federal Reserve suggesting that an imminent interest rate hike might not be in …
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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) escalated its regulatory enforcement last Friday, shutting down four filling stations in Cross River State due to non-compliance and operational malpractices. …
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Oil prices surged on Thursday, reaching their highest levels since 2014, as the US imposed sanctions on two shipping companies for violating a price cap on Russian crude exports. The …