Locked content Oil prices decline for the third week

For the third consecutive week, the oil prices have been declining. On the New York Stock Exchange, the prices fell by 3 percent, while in London the decrease was 4.2 percent. Such a downward trend has not been observed since August. Investors closely monitor Saudi Arabia’s declarations on the...

Locked content Price of oil reaches three-year low

Continued oversupply from Organization of the Petroleum Exporting Countries (OPEC) led to the continued drop in the price of oil in trading on Monday, according to a report by Reuters. The price of Brent crude oil fell by almost 1 percent, to $44.32 per barrel during morning trading. OPEC had planne...

Locked content Reduced oil output, higher gas prices for Polish drivers

The price of a barrel of oil will reach $70 in 2017, according to an analyst who predicted the 2014 oil price collapse. Crude oil will become more expensive because OPEC and Russia are ready to reduce output. In the wake of rising oil prices, gasoline prices at Polish filling stations will also rise...

Locked content Gasoline prices remain stable

Unleaded fuel prices as well as diesel prices have been stable over the last week, according to BM Reflex, a fuel branch consultancy company. Currently, unleaded 95 fuel sells at PLN 4.77/liter and diesel at PLN 4.68/liter. In the last three months, unleaded 95 prices have grown by PL 0.47/liter and...

Locked content Retail oil prices down by 20% y/y

Unleaded fuel prices have fallen by PLN 0.28 per liter, while diesel prices have dropped by PLN 0.26 per liter since the beginning of January, according to BM Reflex, a fuel branch consultancy company. Retail oil prices are on a downward slide since mid-June. Since then, the drivers are paying PLN 1...

Locked content Orlen: Oil prices at ca. $50 for the next 1-2 years

Oil prices below $50 per barrel are not possible to maintain in the long-term horizon, but in the next 1-2 years they will remain around that level, according to Adam Czyżewski, chief economist of PKN Orlen. “Technological revolution in the extraction sector, which resulted in a crude oil boom, caus...