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Oil prices fall amid OPEC+ deadlock over output cuts
The COVID-19 pandemic took its toll on oil prices in 2020. For the past year, the US benchmark slumped 20.5%, while Brent crude lost 21.5%.
Crude oil prices drop as demand fears persist
The West Texas Intermediate for February delivery lost 61 cents to $47.62 a barrel. Brent crude for February delivery decreased 43 cents to $50.86 a barrel
Eni announces new oil discovery in Egypt’s Western Desert
A new exploration well as part of the Meleiha Concession has discovered new oil resources in Egypt’s Western Desert area, Italian energy giant Eni revealed on Wednesday.
Warnings issued of environmental disaster after oil spill off Yemen coast
UN announces that Houthis would allow experts to inspect, repair oil tanker
Oil prices climb on vaccine optimism, US crude inventories up last week
Many European countries and US states are tightening coronavirus restrictions. Analysts expect oil prices to come under pressure in the first half of 2021
Oil prices slip on the back of COVID-19 worries
Oil prices drop came amid a spike of new coronavirus infections in some major economies forced renewed restrictions or a delay of unwinding lockdowns.
Egypt, South Korea discuss boosting bilateral cooperation in oil, gas sector
They also discussed ways to develop cooperation between the two countries in the oil and petrochemicals sectors.
Al-Sisi urges more cooperation with Italy’s Eni in oil sector
Egypt is important partner for Italian company’s international activity, says Eni CEO Claudio Descalzi
Oil price hike revives petrochemical companies’ performance in Q3 of 2020
SIDPEC among most prominent beneficiaries of oil price rise, given increased demand for polyethylene
Oil prices gain amid positive data
West Texas Intermediate for September delivery rose to $41.01 a barrel, while Brent crude for October delivery climbed to $44.15 a barrel
Oil prices sink amid demand fears
Oil prices plunged as West Texas Intermediate for September delivery fell $1.35 to$39.92 a barrel, while Brent crude lost 81 cents to $42.94 a barrel
Oil prices gain after US inventories drop
Oil prices also got a lift from weak US dollar as there is normally a reverse correlation between foreign exchange value of the US dollar and oil prices
Oil prices slip amid multiple headwinds
West Texas Intermediate for September delivery settled at $41.07 a barrel, while Brent crude oil for September delivery was down to close at $43.31 a barrel
US crude oil production increases last week: EIA
US crude oil imports and exports both increased during the week ending July 17, the US Energy Information Administration
Oil prices climb amid demand hopes
Meanwhile, Brent crude oil for September delivery advanced 1.04 dollars to close at 44.32 dollars a barrel on the London ICE Futures Exchange.
Egypt calls on UNSC to address oil spill risks off Yemen coast
Catastrophic environmental, economic impacts expected if tanker explodes
Global oil demand to record historic growth in 2021: OPEC
While oil demand is still ravaged by COVID-19 crisis, gradual stabilization is expected to begin in Q2 of 2020, prompting cautious growth forecast in 2021
Moody’s expects prolonged depression in oil prices
Brent to average $35/bbl in 2020 and $45/bbl in 2021, Moody’s projects
Oil prices climb after Saudi Arabia pledges further output cuts
Oil prices have recently been boosted not only by hopes that demand will soon return, but also by massive voluntary and involuntary production cuts
Steel markets further hit following COVID-19, oil slump
Sector’s preliminary recovery also hindered following bad 2019, local market dynamics provide breather
US oil will not have impact Saudi economy: Saudi Experts
Oil market will improve after production reduction in line with OPEC plus starting 1 May, for a stabilisation in third quarter, says Bin Gomaa
US oil plummets below zero for first time, Brent declines to $26 a barrel
Decline proves market is not convinced by OPEC cuts, says former petroleum minister, US oil May delivery cratered by as much as -$37 a barrel.
Edison’s oil assets acquisition devalued to $600m after Algerian fields excluded
Procedures for purchasing Edison fields to be completed in 2020
Coronavirus, price war push oil producers to cut 2020 spending plans
Energean cuts its budget in Egypt by $140m
Draft 2020-2021 budget sets oil price at $61per barrel
State employees’ wages to increase by 11.3%: Finance Minister
Oil drops below $25/barrel for first time since 2003
Increase in Saudi oil exports leads to excess supply, says Medhat Youssef
MENA is vulnerable to oil prices decline, Russia more prepared than previous shocks: IIF
How will ongoing oil tension impact MENA region?
Oil declines 22% trading; KSA announces production increase
Global trade war and Coronavirus threaten oil markets: former petroleum minister
Government’s amendment to oil agreements, price review prompt industry to rise again: Shell
Shell Egypt’s total natural gas production level is 350m cubic feet per day, says Moataz Darwish
Finance Ministry downgrades oil prices’ expectations to $64 per barrel
Interest rates to slightly decrease by end of FY2019/20, says report