Preços do petróleo saltam e atingem o maior nível desde março

Oil Prices Soar and Hit Highest Level Since March

Written by Flavia Marinho

Published on 18/05/2020 at 16:39

Updated on 18/05/2020 at 16:47

Preços do petróleo saltaram e atingem o maior nível desde março

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Amid The Pandemic Caused By The New Coronavirus, Oil Prices Jump Again With Signs Of Demand Recovery.

Oil prices are rising sharply this Monday as drilling activity in the U.S. drops and production cuts take place in other countries. Petrobras Starts Testing In The Forno Area, In The Pre-Salt Campos Basin

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Supported by a strengthening demand for fuel as countries around the world ease restrictions imposed to curb the spread of the coronavirus, oil prices jumped 7 percent on Friday (15) and reached the highest level since March.

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U.S. oil (WTI) gained 19.7 percent last week, while Brent crude rose 5.2 percent during the same period, buoyed by bullish news.

As of 8:32 AM today (18), Brent crude was up $2.1, or 6.46 percent, at $34.6 a barrel. U.S. oil was up $2.8, or 9.51 percent, at $32.23 a barrel.

Both contracts recorded their third consecutive week of gains.

Production cuts are contributing to the market rebalancing. IEA estimates that in May, with the OPEC+ agreement and the effects in markets outside the group, oil supply will drop to 88 million barrels per day, down 12 million barrels per day compared to 2019, and the lowest production in nine years.

Anelise Lara, Petrobras’ Director of Gas and Refining, said last Friday (15) that fuel consumption improved in May.

According to her, diesel demand fell by as much as 50 percent in April, and is currently down 30 percent compared to the pre-crisis period; gasoline consumption dropped by up to 65 percent but is recovering to 40%-45%.

Oil Prices Soar and Hit Highest Level Since March

Amid The Pandemic Caused By The New Coronavirus, Oil Prices Jump Again With Signs Of Demand Recovery.

Also Read

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Oil Prices Soar and Hit Highest Level Since March

Amid The Pandemic Caused By The New Coronavirus, Oil Prices Jump Again With Signs Of Demand Recovery.

Also Read

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

Toyota ends the Diesel era: new Hilux with up to 380 km of urban range brings 196 hp, 59.2 kWh battery, 4×4 traction and 715 kg of load capacity

An unmanned Russian ship has been drifting in the Mediterranean for 57 days with 60,000 tons of gas — the second towing attempt has just failed.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

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Saudi Arabia will build a US$ 490 million cultural mega-project in Diriyah, with a 45,000 m² modern art museum in the historical cradle of the Kingdom to transform the city into a global showcase of art and architecture.

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