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Oil – Second Day of Rising Barrel Prices Ahead of OPEC Meeting

Written by Roberta Souza

Published on 03/04/2020 at 18:45

Economy, Oil and Gas

energia, petróleo

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This is the second day of rising oil barrel prices! The reason? The proximity of a new round of negotiations between Russia and OPEC (Organization of the Petroleum Exporting Countries), scheduled for next week.

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As of this afternoon, the traded value of the WTI barrel was US$ 28.65, marking a 13% increase. Meanwhile, Brent crude was being traded at US$ 34.70, up by 16%.

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The new meeting between the oil-exporting countries and the Russians will take place on April 6, next Monday, virtually.

During this week, Donald Trump, President of the United States, mentioned on a social network that Saudi Arabia (OPEC leader) and Russia would cut oil supply by up to 10 million barrels per day, at least. However, the information was not confirmed by any of the parties involved.

If true, an agreement between Saudi Arabia and Russia means, in practice, a recovery in oil prices, which have suffered significantly in recent days. Since both intensified their relations and broke their production cut agreement, the barrel has seen a severe devaluation, dropping from US$ 50 (beginning) to US$ 20 (end of last month).

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Roberta Souza

Autora no portal Click Petróleo e Gás desde 2019, responsável pela publicação de mais de 8.000 matérias que somam milhões de acessos, unindo técnica, clareza e engajamento para informar e conectar leitores. Engenheira de Petróleo e pós-graduada em Comissionamento de Unidades Industriais, também trago experiência prática e vivência no setor do agronegócio, o que amplia minha visão e versatilidade na produção de conteúdo especializado. Desenvolvo pautas, divulgo oportunidades de emprego e crio materiais publicitários direcionados para o público do setor. Para sugestões de pauta, divulgação de vagas ou propostas de publicidade, entre em contato pelo e-mail: santizatagpc@gmail.com. Não recebemos currículos

Oil – Second Day of Rising Barrel Prices Ahead of OPEC Meeting

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Oil – Second Day of Rising Barrel Prices Ahead of OPEC Meeting

Also See Other News:

The Soviet Union spent 22 years drilling into the Earth’s crust and reached a depth of 12,262 meters — they found water where it was thought impossible, hydrogen bubbling from the rock, granite that is 2.7 billion years old, and temperatures of 180 degrees that melted the drill bits.

Ethiopia has banned gasoline and diesel cars, placed over a hundred silent electric buses on the streets of Addis Ababa, and now aims for half a million electric vehicles by 2030, all powered by Africa’s largest dam and a courage that few countries have shown.

Egypt wants to draw 10 million cubic meters of water from the Nile per day into the desert, irrigate a new agricultural frontier, and build a city where there is currently only sand.

Norway is drilling 27 kilometers of rock 392 meters below the bottom of a fjord to build the world’s largest and deepest underwater road tunnel — when completed, a 21-hour journey will be reduced to 10.

An astronaut spent 340 days in space while his twin brother stayed on Earth, and NASA found a “rejuvenating” effect, genes, microbiome, cognition, and immune system that revealed the biological cost of living outside the planet.

Xiaomi launches new smart stove with titanium sensor and automatic shutdown that detects an open flame without supervision.

Chinese engineers begin filling a 217-meter dam at an altitude of 3,000 meters and prepare a 2,240 MW hydroelectric power plant to integrate hydropower, solar, and wind energy in the upper Jinsha.

Brazil broke the historical record for oil and gas production in February 2026 — 5.3 million barrels per day, and a single platform in the Búzios field already produces more than entire countries.

The electricity bill in the Northeast will increase by almost 10% starting this week — five states already have a scheduled date for the adjustment, and the director of ANEEL admits that the increase is double the inflation.

A Chinese company has just delivered its 10,000th humanoid robot — and now wants to place 100,000 in factories worldwide by the end of the year, while Tesla, Boston Dynamics, and the rest of the West have yet to move beyond prototypes.

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The electricity bill in the Northeast will increase by almost 10% starting this week — five states already have a scheduled date for the adjustment, and the director of ANEEL admits that the increase is double the inflation.

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