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Nov 28, 2022 · Key Points. Oil prices were briefly negative for the year Monday, a surprising turnaround from projections that crude could be in short supply and selling at much higher prices. For...
Jan 4, 2023 · High crude oil prices led to lower U.S. gasoline demand as gasoline prices rose. Meanwhile, severe COVID-19 containment measures in China contributed to lower global petroleum demand. On December 8, the price of Brent crude oil reached the lowest 2022 price, at $75/b.
Dec 30, 2022 · Oil's decline in the second half of 2022 as rising interest rates to fight inflation boosted the U.S. dollar. That made dollar-denominated commodities like crude more costly for...
- World oil demand is set to contract by 110 kb/d y-o-y in 4Q22, reaching 100.8 mb/d, up by 130 kb/d compared with last month’s Report. Strong gasoil use in key consuming countries outweighs weak European and Asian petrochemical deliveries.
- World oil supply fell 190 kb/d in November to 101.7 mb/d, breaking a five-month uptrend, after Saudi Arabia and other Gulf countries curbed supply in line with lower OPEC+ output targets.
- Global refinery throughputs surged 2.2 mb/d in November to the highest since January 2020, resulting in sharply lower diesel and gasoline cracks and refinery margins.
- Russian oil exports increased by 270 kb/d to 8.1 mb/d, the highest since April as diesel exports rose by 300 kb/d to 1.1 mb/d. Crude oil loadings were largely unchanged m-o-m, even as shipments to the EU fell by 430 kb/d to 1.1 mb/d.
Dec 9, 2022 · Oil prices have not soared but slipped, adding fuel to an argument made by Saudi energy minister Prince Abdulaziz bin Salman that in the face of a weakening global economy, pre-emptive cuts...
Aug 15, 2022 · When oil prices fall, many costs for industry and agriculture, including chemicals and fertilizer, generally follow. And shipping becomes more economical.
Sep 23, 2022 · The U.S. benchmark oil price tumbled below $80 a barrel on Friday for the first time since January as traders grew increasingly worried that much of the world was headed into a recession or was...
