Global supply of oil inches tighter amid Russia's response to the G7 to reduce oil output | Business Insider

  • 📰 News24
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 80%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The West Texas Intermediate crude ended last week's rally up by 5.46%. Saudi Arabian stocks climbed on Sunday, the Tadawul All Share Index, inching 0.2% higher. The global supply of these commodities is expected to remain tight. | BISouthAfrica

The decision comes in response to on Russian exports made earlier this month. Exported barrels must remain below $60 if it is to be shipped by G7 and EU tankers, insurance companies, and credit institutions, Reuters reported. The move by the group, comprised of European Union countries and Australia, aims to limit seaborne oil exports to restrict Russia's capacity to finance its war in Ukraine. The Russian invasion of Ukraine in February sent oil and gas into scarcity.

The global supply of these commodities is expected to remain tight. Aside from the conflict, companies within the sector aren't spending enough on capital expenditure. While it may be bad news for energy prices, it could also mean investors have a continued safe haven leading into the new year. Even after energy stocks had a strong run in 2022, there could be more upside as demand is expected to outpace supply, a fund manager who oversees an energy sector fund, the Integrity Mid-North American Resources Fund , told Insider.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

BISouthAfrica Choosing the right investment strategy can reduce your risk and make the most of your money. I have made over R89,670 profit this year regardless the market condition not just by buying the dip but understanding & implementing trade with signals supplied by TrevorCarlson0

BISouthAfrica Ignorance keep someone in stagnant, the risk you are scared to take are some others testimony today, the abordant life that I'm enjoying today is as a result of risk i took by investing online with Mr richard1_ray dm him for more info about bitcoin mining investment.

BISouthAfrica Choosing the right investment strategy can reduce your risk and make the most of your money. I have made over R89,670 profit this year regardless the market condition not just by buying the dip but understanding & implementing trade with signals supplied by TrevorCarlson0

BISouthAfrica Ek het nog altyd Bitcoin gehaat en gedink dit is 'n bedrogspul totdat 'n vriend my verwys het na richard1_ray , ek het my eerste onttrekking van R100,000 in 2 weke gemaak danksy richard1_ray

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi ends higher on oil prices; most Gulf markets in red - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Saudi Arabian stocks climbed on Sunday in response to Friday’s rise in oil prices, while most other bourses in the Gulf were in the red on global economic concerns. Genuine Idea to rebalance your portfolio if you are a newbie or making loss in crypto trades,Glad I didn't miss out on the dip. made R40k and more with a good recommendation from JeremyHogan0 this has literally helped me through earning more even as I work.
Source: SABCNews - 🏆 37. / 51 Read more »