Russian Deputy Prime Minister Alexander Novak said on Monday, there is “no need for emergency measures in the oil market”.
Oil rebounded from one of its biggest ever daily drops as traders assessed the risks to global demand from the Omicron variant of Covid-19 and the potential response by OPEC and its allies.
Saudi Arabia’s Energy Minister Abdulaziz bin Salman played down the likely fallout from the new coronavirus variant that pummeled oil markets last week.
Oil demand will return to 2019 levels by the end of 2022, despite some delays in projects due to repercussions from the pandemic, Baker Hughes CEO Lorenzo Simonelli told Al-Arabiya.
Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand.
Oil seeds industry: Cameroonian market will be continuously supplied during the holiday season and even beyond, assures refiners association ASROC
The Cameroonian oilseeds industry has taken measures to remain operational even beyond January 1, 2022, the Oilseeds Refiners Association (ASROC) assured in a release issued on November 23, 2021.
Commodities trader Vitol will buy Britain’s Vivo Energy in a deal valued at roughly $2.3 billion, the companies said on Thursday, as the Dutch firm looks to take full control of the distributor of Shell- and Engen-branded fuels in Africa.
US West Texas Intermediate (WTI) crude futures increased 20 cents, or 0.3 per cent, to $78.70 a barrel, following a 2.3 per cent gain in the previous day.
Share markets were jittery in Asia on Wednesday as trading was buffeted by a step-up in US Treasury yields as well as volatile oil prices in the face of price-cooling moves by the United States and other nations.
European shares rebounded on Wednesday after a four-day losing streak, as higher commodity prices helped offset fears around Europe’s worsening Covid-19 situation and prospects of severe restrictions dampened the economic outlook.