By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Environment Minister launches country report for climate and development
    Environment Minister launches country report for climate and development
    March 22, 2023
    Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
    Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
    March 21, 2023
    IMF reaches staff-level deal with Somalia
    IMF reaches staff-level deal with Somalia
    March 21, 2023
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    March 21, 2023
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    March 21, 2023
  • Politics
    PoliticsShow More
    Arab League condemns Israeli minister who denies historical rights of Palestinians
    Arab League condemns Israeli minister who denies historical rights of Palestinians
    March 22, 2023
    New York beefs up security measures amid uncertainties over Trump case
    New York beefs up security measures amid uncertainties over Trump case
    March 22, 2023
    A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
    Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
    March 22, 2023
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    March 22, 2023
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Oil prices fall amid OPEC+ deadlock over output cuts
Share
Notification
Latest News
Arab League condemns Israeli minister who denies historical rights of Palestinians
Arab League condemns Israeli minister who denies historical rights of Palestinians
Politics Region
Environment Minister launches country report for climate and development
Environment Minister launches country report for climate and development
Business
New York beefs up security measures amid uncertainties over Trump case
New York beefs up security measures amid uncertainties over Trump case
Politics
A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
Politics Society in depth
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Energy > Oil prices fall amid OPEC+ deadlock over output cuts
BusinessEnergy

Oil prices fall amid OPEC+ deadlock over output cuts

Xinhua
Last updated: 2021/01/04 at 11:51 PM
By Xinhua 1 Min Read
Share
Crude oil prices
SHARE

Oil prices retreated on Monday after major oil producers adjourned their meeting to Tuesday with no agreement on output.

The West Texas Intermediate for February delivery lost 90 cents to settle at $47.62 a barrel on the New York Mercantile Exchange. Brent crude for March delivery decreased 71 cents to close at $51.09 a barrel on the London ICE Futures Exchange.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, widely known as OPEC+, ended discussions on Monday without agreement on production levels for February. The meeting will resume on Tuesday.

In their last meeting, OPEC+ agreed to boost oil production by 500,000 barrels per day from January and said they would meet monthly, starting January, to decide on further production adjustments for the following month.

The COVID-19 pandemic took its toll on oil prices in 2020.. For the past year, the US benchmark slumped 20.5%, while Brent crude lost 21.5%.

You Might Also Like

Environment Minister launches country report for climate and development

Beyond GDP: Changing how we measure progress is key to tackling a world in crisis

IMF reaches staff-level deal with Somalia

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson

Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs

TAGGED: brent, Oil, OPEC, WTI
Share this Article
Facebook Twitter Email Print
Previous Article British Prime Minister Boris Johnson announced Monday that England will enter a national lockdown from midnight, the third of its kind since the coronavirus pandemic began in the country. UK PM imposes new coronavirus lockdown on England
Next Article The Central Bank of Egypt (CBE) has launched a new EGP 15bn initiative to finance the dual-fuel vehicle conversion plan, with a lump-sum return of 3%. Egypt’s central bank allocates EGP 15bn to finance dual-fuel vehicle conversions
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Arab League condemns Israeli minister who denies historical rights of Palestinians
Arab League condemns Israeli minister who denies historical rights of Palestinians
Politics Region
Environment Minister launches country report for climate and development
Environment Minister launches country report for climate and development
Business
New York beefs up security measures amid uncertainties over Trump case
New York beefs up security measures amid uncertainties over Trump case
Politics
A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
Politics Society in depth
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?