Plummeting Oil Prices not a Matter of Concern

Source: Algeria Times 9/18/2014, Location: Africa

Minister of Energy Youcef Yousfi said Tuesday that oil prices, which have been sharply falling since June, "are not a matter of special concern" to producing countries.

According to the minister, current prices fluctuation is due to the movement in exchange rate and usual stock exchange transactions.

The developments of the oil market are followed "with attention," adding that "the available data show that there is no particular tension in the market, nor a significant imbalance between offer and demand."

The Sahara Blend, Algerian reference crude oil, dropped by about six dollars in August to 100.86 dollars, against 106.74 dollars in July, as a result of abundance in oil offer and a fall in demand, according to the figures the Organization of Oil Exporting Countries (OPEC) released Wednesday.

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects


Australia >>  8/15/2022 - • EP447 Joint Venture Partners agree to develop the Walyering Gas Project in the Perth Basin, with first gas sales targeted in Q1 2023.
• Gas ma...

United Kingdom >>  8/12/2022 - As the race to number 10 accelerates, Offshore Energies UK (OEUK) has written open letters to Rishi Sunak and Liz Truss asking them to help consumers ...

United Kingdom >>  8/12/2022 - Octopus Renewables Infrastructure Trust plc is pleased to announce that it has entered into an agreement to acquire a 51% ownership interest in the Cr...
United States >>  8/12/2022 - Ocean GeoLoop AS, the green tech company developing multifunctional environmental technologies based on nature’s own processes, announced a NOK ~100 m...

Germany >>  8/11/2022 - RWE is actively forging ahead with the implementation of its Growing Green strategy. In the first half of 2022, the Group invested about €2 billion in...
United Kingdom >>  8/5/2022 - The Equinor-operated Rosebank oil and gas field will provide significant investment into the UK.

According to a socioeconomic study by Wood...


Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.