Oil Market

OPEC+ pump more oil-sources

Release of reserves oil pressures the current oil prices

On Monday, oil prices rose from seven-week lows. However, they remained under pressure after Japan announced it was considering releasing oil stockpiles and the COVID-19 situation in Europe worsened, heightening fears about excess and poor demand. As of 0725 GMT, Brent oil prices were down 26 cents, or 0.3 percent, to $78.63 a barrel, while …

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Goldman Sachs – Oil Prices Could Reach $100 a Barrel

Goldman Sachs predicts that oil prices could reach $100 a barrel by the end of the year. Many consumers are afraid of the costs of further inflationary pressures that have arisen in the commodity landscape this year. Global oil supplies are showing signs of danger as the winter season approaches. Summarizing the Reuters inventory dilemma, …

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The oil price rally of 2021 Is far from over

The Oil Price Rally of 2021 Is Far from Over

Even though oil prices have recently reached their highest levels in several years, they still can soar further this winter. Analysts believe that the short-term market fundamentals support this view. As stocks deplete, inventories worldwide have plummeted to below the pre-pandemic five-year average, with demand rising back despite a poorer supply response from manufacturers. The energy …

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