oil price

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Oil price drops as  IEA speculates

Oil price drops as IEA speculates

IN what should be   considered the worst news for the oil  industry the International Energy Agency, IEA, has announced that there are approximately 230 million more barrels of oil in storage than previously believed.

Oil price hits $50 per barrel

Oil price hits $50 per barrel

Barely a few hours after the Joint OPEC-Non-OPEC Ministerial Monitoring Committee, JMMC, met in St. Petersburg, Russia, for its fourth meeting on July 24, 2017, to review last month’s report as well as the first six months of the Declaration of Cooperation as submitted by the Joint OPEC-Non-OPEC Technical Committee, JTC, crude oil price has risen from $48 to $50 per barrel.