Commodity Markets

OPEC

OPEC+ Might Not Increase Oil Production as It Is Expected

Analysts said that OPEC+ would hold a meeting with Russia and other allies on Thursday. It is expected OPEC to grasp world oil prices than they have in years. OPEC+, an oil producer and its allied organization, is expected to increase 500,000 to 1 million barrels of oil per day. Still, analysts said that there are rumors …

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commodities

Commodity Price Surge Might Cause Wind Energy Price Growth

In the first half of 2021, the global average onshore wind power costs have fallen. However, the rising commodity prices might make renewable energy more expensive. If commodities such as steel and copper continue to rise, wind power prices may also rise in the second half of 2021. In the first half of 2021, the …

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A brief summary of OPEC

OPEC Worries at Surging Oil Prices, Rising from Oversupply

OPEC and non-OPEC oil-producing countries coalition have cut production in the economic recession caused by COVID since last year. Its efforts have almost quadrupled crude oil prices in more than a year. In addition, the sharp increase in demand for oil in economies that have reopened in recent months has also pushed the prices. The OPEC+ alliance …

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Gold is bullish and it could lead to new record highs

Gold Prices Rebound Sharply After 15 Months of Decline

After precious metals recorded their most significant weekly drop in 15 months, gold prices rose slightly on Monday. As of 11:40 am Eastern Time, spot gold rose 1.0% to US$1,783.44 per ounce, staying above the US$1,780 last seen in early May. U.S. gold futures rebounded 0.8% in New York, at $1,784.10 per ounce. Last week, …

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Raised Copper and Gold prices lift Barrick Gold 1Q profit

Raised Copper and Gold Prices Lift Barrick Gold 1Q Profit

One of the world’s largest gold producers, Barrick Gold Corporation, reached higher earnings in the 1Q earnings than last year. It is mainly because rising gold and copper prices drive revenue growth. The Toronto-based gold miner said it expects earnings to achieve its annual forecast. Barrick Gold Corp on Wednesday reported a 78% increase in …

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chinese steel, commodities

Commodities of The Future: What Is Going to Change?

Acceleration of sustainability, decarbonization and significant development of some leading companies caused rapid changes in the commodity industry. Some commodities, called “commodities of the future,” will have a strong demand growth in 20 years worldwide. They are copper, nickel, aluminum, lithium, cobalt, tin, rare piles of earth, metal scrap, and green steel. As productivity increases, …

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