Oil is the only resource that can solve all Montenegrin financial problems by 2024.
Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves.
Oil fell as investors weighed the chances that the Biden administration may tap emergency reserves in a coordinated move with nations such as China, and a mixed report on U.S. stockpiles.
OPEC Secretary General Mohammad Barkindo said on Tuesday that he expects an oil supply surplus as early as next month and the market to remain oversupplied in 2022.
Oil edged up after the Energy Information Administration said the impact of a potential release from U.S. emergency crude reserves would only be short-lived.
The Abu Dhabi National Oil Company (ADNOC) has signed a $6.2 billion deal to extend its polyolefin Borouge plant.
Saudi Arabia and the United Arab Emirates signaled OPEC+ will continue raising oil output cautiously and won’t bow to U.S. pressure to pump faster.
The Organization of Petroleum Exporting Countries and its allies are likely to maintain their plan of raising output by 400,000 barrels a day.
Oil reversed losses to close slightly higher after another day passed without an announcement from the Biden Administration to tap U.S. crude reserves.
U.S. retail gasoline prices are poised to average more than $4 a gallon in three states for the first time in 13 years as energy prices surge and fan fears of inflation.