Saturday, November 30, 2024

Brent Oil Prices Continue Their Fall, Plunging Over 10%

Brent crude oil futures crashed more than 10% in early Monday trading. At $30.56 per barrel (as of 10:25 A.M. EDT), the crucial international benchmark is now at its lowest level in more than four years. Brent prices last fell below $32 in February 2016.

SGCC Completes 49 Percent Equity Acquisition of OETC

MUSCAT, Oman, March 16, 2020 /PRNewswire/ — State Grid Corporation of China (SGCC) has completed the 49% equity acquisition of Oman Electricity Transmission Company OETC together with seller Nama Group on March 11 in Muscat, Oman.

OPEC shift to maintain market share will cause global inventory increases and lower prices -oilandgas360

OPEC shift to maintain market share will cause global inventory increases and lower prices

EIA Markets for oil, as well as other commodities and equities, have experienced significant volatility and price declines since the final week in February amid concerns over the economic effects of the 2019 novel coronavirus disease (COVID-19). More recently, markets fell after the Organization of the Petroleum Exporting Countries (OPEC) and partners failed to reach an agreement to continue crude