Russia’s new sanctions, which include a total of 30 entities, have increased momentum as the European Union stalls over plans for a Russian oil ban.
Brent crude futures slipped US$1.32, or 1.2%, to US$106.19 a barrel by 0646 GMT. WTI crude futures fell US$1.52, or 1.4%, to US$104.19 a barrel
Gas is cheaper than crude when used for a generation, but free Gas from jubilee had always been preferred due to the impact on pricing.
If the U.S. passes the NOPEC bill, a bill designed to pave the way for lawsuits against OPEC members for market manipulation, the oil market could face even more chaos.
South America’s latest oil-producing nation, the former British colony of Guyana, is continuing to lay the groundwork for its oil boom.
Petroleum Consultant, Dr. Yusif Sulemana, has stated that Ghana needs to shift from its previous hybrid petroleum agreements to optimize the revenue it makes from the sector.