Report

rss

Iraq News

Kurdistan

Economy

World

All News

A slight recovery in oil prices after the lowest level in 18 years

Category: Economy

Date: 2020-03-31T10:42:45+0000
A slight recovery in oil prices after the lowest level in 18 years

Shafaq News / Oil prices witnessed a strong recovery on Tuesday, after falling to its lowest level in 18 years, while strengthening the decision-makers' steps to support the global economy affected by Corona pandemic.

The US crude, "Texas Intermediate", rose 7.3% to record 21.5 dollars a barrel, while Brent crude rose 3.3% to 23.5 dollars a barrel.

Oil markets retreated at a time when world governments imposed complete isolation measures to prevent the spread of the virus, which caused a decrease in demand for crude.

About two-fifths of the world's population is now isolated in their homes, while the death toll from corona has risen to more than 37,000, at a time when the epidemic is increasing dangerously in the United States.

The decline in oil prices increased after OPEC + countries failed to reach an agreement on production cuts.

The markets also improved on the background of the contact that took place Monday between Russian President Vladimir Putin and American Donald Trump, where they discussed oil prices.

related

Russian giant expects stability in Iraq and resume development of an oil field

Date: 2020-02-11 12:53:01
Russian giant expects stability in Iraq and resume development of an oil field

Iraq’ oil exports to the United States increased in first week of January

Date: 2021-01-16 07:45:56
Iraq’ oil exports to the United States increased in first week of January

OPEC forecasts oil demand rebound before post-2035 plateau

Date: 2021-09-28 15:09:14
OPEC forecasts oil demand rebound before post-2035 plateau

Iraq to export 2.8 million barrels of oil

Date: 2020-06-15 09:11:13
Iraq to export 2.8 million barrels of oil

Oil falls as India crisis, U.S. stocks build dampen confidence in fuel demand recovery

Date: 2021-04-28 06:11:52
Oil falls as India crisis, U.S. stocks build dampen confidence in fuel demand recovery

Oil drops on concerns European COVID-19 issues to crimp demand

Date: 2021-03-23 06:24:19
Oil drops on concerns European COVID-19 issues to crimp demand

Oil falls in volatile trade as investors try to make sense of OPEC spat

Date: 2021-07-07 17:45:34
Oil falls in volatile trade as investors try to make sense of OPEC spat

Oil jumps as storm approaches Gulf of Mexico production hub

Date: 2021-08-27 07:31:35
Oil jumps as storm approaches Gulf of Mexico production hub