Brent crude

  • OPEC, non-OPEC Ministerial Meeting Cancelled

    OPEC, non-OPEC Ministerial Meeting Cancelled

    Tuesday, 6th July 2021

    OPEC and non-OPEC ministerial meeting to discuss oil output has been canceled affecting Brent crude benchmark.

  • Egypt Doubles Oil Hedges in FY 2020/21

    Egypt Doubles Oil Hedges in FY 2020/21

    Thursday, 10th December 2020

    Egypt has doubled its oil hedges during the fiscal year (FY) 2020/21 as a precautionary measure against the possible increase of oil prices, Finance Minister Mohamed Maait told Bloomberg in an interview.

  • Sinopec Awards Qatargas 10-year LNG Tender

    Sinopec Awards Qatargas 10-year LNG Tender

    Sunday, 6th September 2020

    China’s state-run oil and gas company, Sinopec Corporation, has awarded a 10-year tender to buy 1 million tonnes of liquefied natural gas per year from Qatargas.

  • WTI Crude Prices Fall by 300%, Plunges Below $0 

    WTI Crude Prices Fall by 300%, Plunges Below $0 

    Tuesday, 21st April 2020

    US oil trading collapsed on April 20 as the price on the May future contract for West Texas Intermediate (WTI) - that is due to expire on April 21 - fell by over 300%, recording an unprecedented $-37.63 per barrel on April 20 against April 17’s $18.27 per barrel.

  • OPEC+ Decisions Could Curb Oil Supply by 20%

    OPEC+ Decisions Could Curb Oil Supply by 20%

    Monday, 13th April 2020

    The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced yesterday to cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through June 30, curbing global oil supply by 20%.

  • Egypt Sets Oil Price at $68 in 2020 Budget

    Egypt Sets Oil Price at $68 in 2020 Budget

    Sunday, 5th May 2019

    The budget for fiscal year (FY) 2019/20 estimates oil prices at $68 per barrel, down from $70 of in FY 2018/19.

  • Oil Falls 2% Ahead of OPEC Meeting

    Oil Falls 2% Ahead of OPEC Meeting

    Thursday, 21st June 2018

    Oil prices fell on June 21 as producers prepared to discuss the lifting of production cuts at the biannual OPEC meeting on June 22 in Vienna.

  • Oil Reaches $80 for First Time since November 2014

    Oil Reaches $80 for First Time since November 2014

    Sunday, 20th May 2018

    Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.

  • Oil Spikes as Trump Exits Iran Deal

    Oil Spikes as Trump Exits Iran Deal

    Wednesday, 9th May 2018

    Oil prices rose more than 2% on May 9, after President Donald Trump announced the US withdrawal from the Iran nuclear deal and a reimposition of the "highest level" of sanctions on Tehran.

  • No Extension Needed on OPEC Cuts if Prices Continue to Rise: Iran

    No Extension Needed on OPEC Cuts if Prices Continue to Rise: Iran

    Thursday, 26th April 2018

    An extension to the oil production cuts will not be necessary if crude prices continue to rise, Iranian Oil Minister Bijan Zanganeh has said.