Arab Steel Summit
Arab Steel Summit
steel Oribis

Oil rises 2% and Brent exceeds $86 a barrel

Oil prices rose more than 2%, with weekly gains of more than 8%, as Russia announced plans to cut oil production next month after the West imposed a ceiling on crude oil and fuel prices from the country.

Brent crude futures ended their trading at a high of $1.89, equivalent to 2.2%, to $86.39 a barrel, while US West Texas Intermediate crude futures rose $1.66, or 2.1%, to $79.72. Brent achieved a weekly gain of 8.1%, while the US rose 8.6%.

Russian Deputy Prime Minister Alexander Novak said that his country intends to reduce its production in March by 500,000 barrels per day, while energy expert Rebecca Babin said, “Analysts’ estimates are already dependent on the decrease in Russian production by between 700,000 and 900,000 barrels in 2023. However, the key to the exit of oil from its current trading range is a recovery in Chinese demand”.



Related News

Arab Steel Summit

Latest News

Arab Iron and Steel Union

لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

Subscribe Newsletter

Contact us

General Secretariat
Tel +21323304221 Fax +21323304254
Mail: relex@solbarab.org

Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: aisucairo@solbarab.org