Oil prices have been rangebound for four consecutive weeks now, with demand concerns being countered by expectations of an OPEC output cut extension.
Oil prices have been rangebound for the last four weeks with demand concerns being canceled out by expectations of an OPEC production cut extension.- The latest forecast from the US National Oceanic and Atmospheric Administration NOAA confirmed that this year’s Atlantic hurricane season is expected to be above normal, with the potential for 17 to 25 named storms from June to November.
The Central Asian Republic of Uzbekistan is set to become the next addition to the list of countries developing nuclear energy, the first in the region, agreeing to build six smaller 55 MW reactors instead of the initial plan for 2.4 GW capacity. Iran Keeps on Dreaming Big. The recent death of President Raisi notwithstanding, the Iranian government has approved a plan to increase oil production to 4 million b/d from the current target of 3.
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