Home / oil price / Russia’s Novak says sees oil price at $50-$60 in 2017: TASS

Russia’s Novak says sees oil price at $50-$60 in 2017: TASS

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Supermarkets blame 20 per cent olive oil price hike on Brexit and poor harvests in Italy and Greece

Supermarkets blame 20 per cent olive oil price hike on Brexit and poor harvests in Italy and Greece*/

– Poor harvests in Italy and Greece have also affected the priceClick to share on WhatsApp (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)SUPERMARKETS have hiked olive oil prices in the wake of Brexit.Shoppers have been stung by rises of up to 20 per cent since the historic poll last June.Getty Images 3 Olive oil has gone up in price since the Brexit voteThe average cost of own-brand olive oil at Sainsbury’s has increased by seven per cent year-on-year and at Tesco by six per cent, according to data from Brand View.
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Russia’s Novak says sees oil price at $50-$60 in 2017: TASS

Russia's Novak says sees oil price at $50-$60 in 2017: TASS*/

– Russia’s Energy Minister Alexander Novak addresses a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, December 10, 2016.REUTERS/Heinz-Peter BaderMOSCOW Russian Energy Minister Alexander Novak sees global oil prices at between $50 and $60 per barrel in 2017, TASS news agency quoted him as saying on Sunday.According to Interfax news agency, Novak also said that countries involved in a deal between OPEC and non-OPEC oil producers could reduce their output by more than 1.7 million barrels per day by the end of January.
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Saudis claim victory over US shale industry and remain defiant on oil price spike

Saudis claim victory over US shale industry and remain defiant on oil price spike*/

– Saudi Arabia’s oil sheikhs insisted defiantly in Davos that they have defeated the challenge of the American shale industry and restored the balance to the global oil markets after two years of trauma and glut.The country’s energy minister Khalid Al-Falih said US oil frackers had survived only by tapping the most prolific wells and would face surging costs once again as recovery builds, while cannibalisation of their plant will prevent a rapid rebound in US output.”Their supply infrastructure has been decimated,” he said, speaking at the World Economic Forum.
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