Latest Crude oil prices, News to 17/08/2020
Opec+, led by Saudi Arabia and Russia, will convene their joint ministerial monitoring committee meeting on Wednesday.
The price of OPEC basket of thirteen crudes stood at $44.62 a barrel on Friday, 14 August 2020, compared with $45.34 the previous day, according to OPEC Secretariat calculations.
|Commodity At press time||Units||Price||Change|
|Crude Oil (WTI)||USD/bbl||42.41||0.00%|
|Crude Oil (Brent)||USD/bbl||45.00||0.00%|
The International Energy Agency expects crude oil demand this year to be 8.1 million bpd lower than it was in 2019, a downward demand forecast revision of 140,000 bpd, the authority said in its latest Oil Market Report.
The coronavirus pandemic has already destroyed oil demand growth. It has dented oil demand. It has sent oil and gas companies under. It has stymied exploration and production the world over, and triggered countless job losses, writedowns, and more.
Israel has never been a major energy player. On the contrary, until the past decade, its lack of hydrocarbons had been a persistent Achilles heel, leading it to import oil from the former Soviet Union and Iraq’s Kurdistan region and to rely on coal for electricity generation. Consequently, it has become a regional renewable energy leader.
670-horsepower machine with a 0-60 mph time of 3.6 seconds and a top speed of 183 mph
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