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(Reuters) - Oil prices fell sharply on Thursday, extending losses from the previous session, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market. Brent crude prices fell $1.24, or 1.5%, to $79.84 a barrel by 0918 GMT,... Continue Reading →
Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due to an American Petroleum Institute (API) report showing rising crude inventories in the United States and, analysts... Continue Reading →
(Rigzone) Fitch Solutions Country Risk & Industry Research has released its latest oil price forecasts to 2025. In a report sent to Rigzone on Monday, the company projected that Brent crude prices will average $70 per barrel in 2021, $67 per barrel in 2022, $68 per barrel in 2023, $70 per barrel in 2024 and... Continue Reading →
(Reuters) - Brent crude oil futures hit a fresh three-year high on Tuesday, with U.S. benchmark crude close to 2014 peaks, after the OPEC+ group of producers decided to stick to its planned output rises rather pumping even more. OPEC+ agreed in July to boost output by 400,000 barrels per day (bpd) each month until... Continue Reading →
(WO) --The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America. Natural gas prices have already surged to almost double that level in oil equivalent terms, and BofA says a spike in demand for diesel... Continue Reading →
(Reuters) - Petrobras (PETR4.SA) Chief Executive Officer Joaquim Silva e Luna said there was "zero" risk that the state-run Brazilian oil company would seek to artificially control fuel prices even amid growing public outrage over inflation. Petroleo Brasileiro, as the company is formally known, will have to raise gasoline and diesel prices in line with its international... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro said on Thursday that profits from state-run oil firm Petrobras (PETR4.SA) could be used to alleviate rising fuel prices in the country, among possibilities for confronting higher prices. Fuel prices have become a hot-button issue in Brazil as inflation soars. Recent CEOs of Petrobras have been forced out over price hikes.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras clarifies that, as disclosed on September 29, 2021, the allocation of R$ 300 million, over a period of 15 months, was approved for the creation of a social program to support families in situations of social vulnerability to contribute with access to essential inputs, with a focus on liquefied petroleum... Continue Reading →
The Brazilian Association of Petroleum Services Companies – ABESPetro, elected, at the Ordinary General Meeting, the new Board and Fiscal Council for 2022/2023. Rodrigo Ribeiro (Constellation) was elected the Chief Executive Officer. The new Board also includes Bruno Freitas (SBM Offshore), Lauro Puppim (Saipem), Luana Duffe (TechnipFMC), Marcos Villela (NOV) and Ricardo de Luca (Porto... Continue Reading →
(Reuters) - Soaring gas prices, staff shortages, a lack of ships -- price pressures globally may be picking up faster than anticipated, challenging the view that inflation will prove transitory. Central bankers, while adamant inflation will subside, are starting to concede it may stay higher for longer as a range of issues push up the... Continue Reading →
Brazil Energy Insight 