One barrel (159 liters) of OPEC crude stood at $97.68 Thursday, compared with $98.88 on the previous day. OPEC calculates an average basket price based on 13 important brands produced by cartel members.
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Easing oil prices
The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) lost another $1.20 Thursday, OPEC said Friday.
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With Oil Past Peak, Shell Sharpens 2050 Zero Emissions GoalEnergy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak.
Fuel price spread back in the spotlightSince early November, the spread has widened steadily so that it now stands at $92 per tonne in Rotterdam and $112.5 per tonne in Singapore.
Opinion: Was 2020 Really So Bad for Oil?f ever a year needed a shot of glass-half-full attitude, it’s 2020. I got it recently from an oil executive. Conversation turned inevitably to the pandemic and 10 million barrels a day of oil consumption — one in ten — going *poof*.
U.S. Blacklists More Companies Over Iranian Petrochemical Exports“The United States will act against persons who support illicit actors engaged in the movement of Iranian petroleum and petrochemical sales,” Treasury Secretary Steven Mnuchin said in the statement.
UAE announces discovery of new oil reservesAn estimated 22 billion barrels of non-conventional and recoverable crude was recently discovered in Abu Dhabi, the capital of the United Arab Emirates (UAE).
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