oil price

The World Bank has warned that the price of oil could see increases in the future, presenting three risk scenarios in a recent report titled "Commodity Markets Outlook." While the international financial institution expects the global oil…

High oil price hikes were recorded again in Europe on Wednesday after Germany suspended the authorization on Nord Stream 2 pipeline from Russia, claiming legal obstacles. The controversial pipeline is linking Russia to Germany under the…

Friday, September 15, is the first day set by the government to increase the excise duties for petrol and diesel fuel by RON 0.16, it is to be followed by another similar step on October 1. On August 30 the Government approved the…

The gasoline and the diesel fuel are expected to become more expensive soon, as the prices for fuel have already increased well above RON 5 per litre, as compared to the same period last year when the price was below RON 5. Against last…

Last year, Romania used 11.22 million tons of oil, of which 4.07 million tons of domestic production and 7.5 million tons of import, Commission for Economic Forecasting (CNP) data reveal. Moreover, Romania could remain without its own…

A EUR 1 billion investment in the oil industry generates some EUR 3.2 billion in the GDP and ensures 45,000 new jobs, a survey conducted by the Romanian Association of Oil Exploration and Production (ROPEPCA) and presented on Monday…

Swift response to the drop in oil price: CAPEX down 49% yoy, OPEX in USD/boe down 29% yoy leading to neutral free cash flow; Upstream: Group production down 3% yoy, due to offshore planned works and lower level of investments; impairments…

Oil ministers from three OPEC countries, Saudi Arabia, Qatar and Venezuela, as well as Russia, have agreed to freeze oil output at January levels, as long as others follow suit. The announcement came after the four ministers met in Doha on…

Iulian Iancu, Chairman of the Industry and Services Committee with the Chamber of Deputies has pointed on Tuesday to world specialists, saying they estimate the oil price would fall to USD 14 per barrel, a situation that would lead to the…

The oil price has fallen below USD 28 a barrel amid fears the lifting of Western sanctions on Iran could worsen the existing oversupply problem. Brent crude, used as an international benchmark, fell as low as USD 27.67 a barrel, its lowest…