Fuel subsidies disappear and oil prices go up

Oil closed yesterday at a price of $ 37.87 per barrel (WTI, Texas). A price still insufficient given the economic crisis. The oil-producing countries affected by the collapse of oil prices, have been forced to take unpopular measures that translate into a rise in gasoline and...

WTI oil price closes up 4% reaching to $ 45.72

Texas Oil (WTI) benchmark in the US, closed yesterday with a rise of 4% and ended with a price of $ 45.72, on a rebound from the low levels recorded in recent months. At the close of trading session loudly on the New York Mercantile Exchange, WTI futures contracts for April...

Ecuador asks the OPEC to ‘regulate’ the oil production

Ecuador made a request to the Organization of the Petroleum Exporting Countries (OPEC) to “regulate production” and thus push up oil prices, which according to President Rafael Correa “are unnecessarily low.” Correa said that Ecuador and other members of...

Rise in oil prices will continue in mid.2015

The Kuwaiti oil minister said he hoped that the current rise in barrel prices continue in the second half of 2015 as the global supply surplus is reduced. “I think it will last,” said Ali al-Omair on the recent rise in oil prices, in statements made in the context of...

Ecuador receives $ 365.9 million less because of fall in oil prices

During the first 23 days of January, Ecuador stopped receiving about $ 365.9 million because of the falling in oil prices. The country has exported a crude of $ 40.89 so far this January, as indicated by the National Information System (SIN for its Spanish acronym), which...

Venezuela: Maduro continues to seek “resources” to counter the crisis

Venezuela’s President Nicolas Maduro said on Tuesday night he is seeking funding to counter a dramatic fall in oil prices that has hit the OPEC member country, but gave no further details. “We are looking for resources,” he said during a speech to present a plan...

WTI oil barrel rose to $ 46.23 in New York

Oil prices closed higher in New York, a day after recording its lowest price since 2009. A barrel of “light sweet crude” (WTI) for March delivery rose $ 1.08 to 46.23. While, in London, a barrel of Brent North Sea for the same delivery further increased $ 1.44 to $...

It is discussed if oil shale prices have reached the limit of profitability

Oil prices have registered a decrease of 50% compared to last year, which would have as a main factor the oil glut largely from oil shale in the United States. According to an estimate of the 2012 Energy Information Administration (EIA), in the world exist around 345 billion...