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Total CEO Patrick Pouyanne said in an interview with Bloomberg TV that a possible rise in the price of oil to $100 per barrel was not good news, for the oil industry as well. Oil is becoming more expensive due to the expected significant reduction in supplies from Iran due to US sanctions. The dynamics of oil prices are also affected by interruptions in the supply of oil from Venezuela. The growth of oil prices to too high levels negatively affects the economy of developing countries and the world economy as a whole. In addition, competition is growing - engines that work on alternative fuels start to be in high demand. Pouyanne expects oil prices to rise to $100 in June 2019.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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