Oil Prices Climb As Interest Rates Remain Unchanged

Oil prices moved higher on Friday morning after both the Fed and the Bank of England decided not to hike interest rates.

After falling for the first three days of the week, oil prices have started to recover after both the Federal Reserve and Bank of England decided not to hike interest rates.Friday, November 3rd, 2023Sometimes no action is the best action. That was certainly the case for oil markets this week when it came to interest rate hikes. After falling for three straight days, oil prices received some much-needed support from federal banks.

6 billion, the renewables boss of BP said the US offshore wind market is fundamentally broken as power purchase agreements don’t reflect current prices and lack inflationary adjustment mechanisms. China Eyes Russian Upstream Projects. China’s state oil company CNPC HKG0857 indicated it is in talks with Russia’s Rosneft, Gazprom, and Novatek to jointly develop oil and gas fields, as well as getting into new midstream opportunities such as building a new gas pipeline from Sakhalin.

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