September 29, 2023

South Sudan News Agency

Complete English News World

It was as if the price of oil had gone up

There are terrible improvements in the oil market, the price of the world’s most important raw material has risen by 15-18 percent today, the price has risen by ten years, depending on the market and production, the price of a barrel of oil has reached $ 135 Meanwhile, the United States is exploring how to stop Russia’s oil imports and what severe new sanctions could be imposed. But detachment is not easy because Russia is the world’s third-largest oil producer after the United States and Saudi Arabia. Last December, the Russians exported 7.8 million barrels a day of crude oil, capacitors and petroleum products, as well as major fuels such as diesel, fuel oil, vacuum gas oil and petrochemical feedstock, oil to Europe, the United States and Asia.

According to the Specialist Portal, there are still plenty of places for oil prices to rise. Some investors have already bet that futures prices will rise above $ 200 by the end of March.

Extreme exchange rate movements, on the one hand, are due to the US House of Representatives, which is exploring the possibility of enacting legislation banning the import of Russian oil and other energy products due to the war in Ukraine, but it is true. Oil producers have no meaningful buffer to boost production, stabilize oil prices, the war in Ukraine has not calmed down, but delays in Libya’s supplies and the expected delay in Iran’s nuclear talks are part of the rise.

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