Oil Sector News

Oil price increase amid weakening US dollar

The weakening of the US dollar increases the demand for assets denominated in dollars.

Naftogaz ramped up oil production at facilities in the Western Desert of Egypt

Oil production increased by more than 20% due to hydraulic fracturing in pilot wells.

Ukrtransnafta guarantees income of UAH 1.1 million to the state from the management of the Samara - Western Direction pipeline

With this condition, the company will sign a management agreement with the Asset Recovery and Management Agency.

Oil prices went down after an increase at the end of last week

Over the past week, Brent rose by 6.1%, WTI – 6.4%.

Ukrtransnafta won the tender to be the manager of the Samara - Western Direction pipeline

ARMA has chosen a manager for the oil product pipeline.

Tax Service fined gas stations UAH 83 million in March

As a result of the inspections, the tax office also stopped the work of 10 gas stations and seized equipment for UAH 4.8 million.

Brent price went up to $67.08 per barrel

Optimism about the outlook for demand remains a key component of oil market growth.

Ukrgazvydobuvannya workers embezzled almost 100 tons of fuel

Diesel fuel was transported to filling stations, where it was sold to the population.

Brent is trading at $66.49 per barrel

Previously, oil prices reached their highest level since mid-March.

Oil price increased: Brent is trading above $63 per barrel

Oil demand forecasts are volatile given that the global COVID-19 situation remains uneven.

Brent price went down to $62.91 per barrel

Last week, Brent price decreased by 2.9%, WTI – 3.5%.

Brent fell to $63.09 per barrel

Rising COVID-19 incidence and new lockdowns are putting pressure on prices.