Showing posts from January 15, 2023

Oil price: OPEC accounts for the insignificant price drop at pumps!

The price of crude oil dropped again when the markets opened for business on Monday. As of 14:00 GMT, the prices of WTI and Brent stood at $79.28 and $84.58 respectively. The price of LNG, liquified natural gas, meanwhile, was at $3.64, having come down by more than 50% since its peak last year. The price of crude oil has dropped by more than 20%, since its peak last year. Although there were reports regarding the Chinese economy bouncing back to its best mode, the Chinese authorities chose to exercise caution in light of its growing issues with the West, particularly the US, the world's largest economy; China admitted the challenges that stem from political hostilities were real - and inextricably linked. In addition, the outbreaks of new variant of Covid-19 seem to be far from being contained: the WHO, World Health Organization, demanded accurate data the other day from China, the world's second largest economy; China, in turn, has said it takes time to give the former the ac

Latest Energy News from EIA