World Energy Market
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Gasoline(Türkiye)
2014 EPDK pricing report - 59% tax, 32% product
1 item : 2 taxes
2023 EPDK Pricing report - 28% tax, 59% product
2 items : 1 tax
Oil Prices Jump As Saudi Arabia Extends Oil Production Cut
Oil prices jumped on Thursday after Saudi Arabia said it would extend its unilateral voluntary cut of 1 million barrels per day (bpd) into September, adding that the cut could be extended or extended and deepened.
Minutes after the Saudi announcement via the official Saudi Press Agency, oil prices – which were flat until then – rose by 1%.
The Saudi extension was largely expected by the market and traders. The announcement comes a day ahead of a regular meeting of the Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group, which regularly discusses the situation on the market and the need for OPEC+ intervention. The panel is not expected to change the OPEC+ production policy.
At the latest meeting in June, OPEC+ decided to extend the current cuts into 2024. Those cuts were originally intended to last between May and December 2023. But the largest surprise came from Saudi Arabia, the world’s top crude oil exporter and OPEC+ leader, which announced a unilateral production cut of 1 million bpd for July.
Early in July, the Saudis extended the cut into August, too, “to support the stability of the market.”
Now Saudi Arabia is extending the cut into September.
“Saudi Arabia will extend the voluntary cut of one million barrels per day, which has gone into implementation in July, for another month to include the month of September that can be extended or extended and deepened,” the Saudi Press Agency reported on Thursday, citing an official source from the Ministry of Energy.
The Kingdom’s production for the month of September 2023 will be around 9 million bpd, as it is in July and August.
“The source also noted that this cut is in addition to the voluntary cut previously announced by the Kingdom in April 2023, which extends until the end of December 2024,” the Saudi agency said.
“The source confirmed that this additional voluntary cut comes to reinforce the precautionary efforts made by OPEC Plus countries with the aim of supporting the stability and balance of oil markets.”
Oil Prices Jump As Saudi Arabia Extends Oil Production Cut | OilPrice.com
Oil prices jumped on Thursday morning after Saudi Arabia confirmed it would extend its 1 million bpd production cut into September.
oilprice.com
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Saudis are digging their own grave even faster by using oil as political tool, these maneuvres will only justify the billions invested in renevables research more.Oil Prices Jump As Saudi Arabia Extends Oil Production Cut
Oil prices jumped on Thursday after Saudi Arabia said it would extend its unilateral voluntary cut of 1 million barrels per day (bpd) into September, adding that the cut could be extended or extended and deepened.
Minutes after the Saudi announcement via the official Saudi Press Agency, oil prices – which were flat until then – rose by 1%.
The Saudi extension was largely expected by the market and traders. The announcement comes a day ahead of a regular meeting of the Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group, which regularly discusses the situation on the market and the need for OPEC+ intervention. The panel is not expected to change the OPEC+ production policy.
At the latest meeting in June, OPEC+ decided to extend the current cuts into 2024. Those cuts were originally intended to last between May and December 2023. But the largest surprise came from Saudi Arabia, the world’s top crude oil exporter and OPEC+ leader, which announced a unilateral production cut of 1 million bpd for July.
Early in July, the Saudis extended the cut into August, too, “to support the stability of the market.”
Now Saudi Arabia is extending the cut into September.
“Saudi Arabia will extend the voluntary cut of one million barrels per day, which has gone into implementation in July, for another month to include the month of September that can be extended or extended and deepened,” the Saudi Press Agency reported on Thursday, citing an official source from the Ministry of Energy.
The Kingdom’s production for the month of September 2023 will be around 9 million bpd, as it is in July and August.
“The source also noted that this cut is in addition to the voluntary cut previously announced by the Kingdom in April 2023, which extends until the end of December 2024,” the Saudi agency said.
“The source confirmed that this additional voluntary cut comes to reinforce the precautionary efforts made by OPEC Plus countries with the aim of supporting the stability and balance of oil markets.”
Oil Prices Jump As Saudi Arabia Extends Oil Production Cut | OilPrice.com
Oil prices jumped on Thursday morning after Saudi Arabia confirmed it would extend its 1 million bpd production cut into September.
Imagine oil was as cheap is its supposed to be, nobody could justifiy investing hundreds of billions of dollars and half a century in fusion research.
Ukraine now threatens to shoot down civilian ships approaching Russian ports. This means that the Russians cannot export oil by sea. It is possible that this will adversely affect international oil trade and result in a spike in oil prices.
25% surge in TTF prices to €40/MWh highlights Europe's fragility against global LNG developments. Not a mere market tightness but a reflection of Europe's evolving LNG dependency. Europe's LNG imports exceeded pipeline gas in 2022, signaling a trend. All the eggs in the same basket again! Disruptions like potential strikes in Australia further expose this vulnerability. Increased volatility in European gas prices isn't good news.
Ryder
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In Australia they said Solar and wind power would be decreasing the bills.
Instead the bills are climbing up and up. Now there is threats of blackouts.
This what happens when Tree hugger fanatics make policy just to push the big lie of Net Zero. Also to the people who voted for Labor and the Greens you voted for this.
They also banned Gas at homes. Gas will now be banned at every new house being built.
Next to be banned will be woodfire heaters the old ones emit a lot of smoke but the new ones have filters plus much more cheaper than Ducted heating.
Instead the bills are climbing up and up. Now there is threats of blackouts.
This what happens when Tree hugger fanatics make policy just to push the big lie of Net Zero. Also to the people who voted for Labor and the Greens you voted for this.
They also banned Gas at homes. Gas will now be banned at every new house being built.
Next to be banned will be woodfire heaters the old ones emit a lot of smoke but the new ones have filters plus much more cheaper than Ducted heating.
Prices in the US diesel market skyrocketed.
