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Fuel prices to remain high till 2023, says report

A report published by Wood Mackenzie states that consumers can expect fuel prices to stay high until next year due to disruptions in Russian oil supplies and refineries struggling to satisfy demand after the pandemic. It also says that the pressure could ease in the second half of 2023, when many new major refineries, particularly […]

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Oil Prices to reach $100 a barrel due to Omicron

The impact of Omicron has caused oil prices to reach $100 a barrel. By the end of 2022, crude oil prices are likely to soar 35%.  Production shortfall despite increasing demand along with geopolitical tensions is an unusual combination. As reported on Al Jazeera yesterday, Texas Intermediate crude slipped down to 0.70% at $84.95. And […]

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Business Commodities & Currency Economic & Finance Market Overview Oil & Gas World Affairs

Despite the omicron surge, Oil prices touch the skies as the demand hikes globally.

A sigh of relief for the Oil industry as these yearly gains are a clear sign of bouncing back from the Covid crisis.  The world is still facing the aftermath of the Covid-19 pandemic. Within the midst of such a crisis, the surge of omicron infected victims is like adding oil to the fire. Such […]

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