Oil prices steady after rising to highest since November, Brent above $90 per barrel
Oil prices were stable on Wednesday after rising to their highest levels since November last year on information about Saudi Arabia’s plans to extend voluntary production cuts until the end of 2023.
The cost of October futures for Brent on the London ICE Futures exchange at 8:10 a.m. on Wednesday is $90.03 per barrel, which is $0.01 (0.01%) lower than the price at the close of the previous session. On Tuesday, these contracts rose by $1.04 (1.2%) to $90.04 per barrel, the highest since November 16.
The price of October futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) fell by $0.03 (0.03%) to $86.66 per barrel. As a result of the previous trading, the value of these contracts increased by $1.14 (1.3%) to $86.69 per barrel, the highest value since November 15.
Saudi Arabia will continue to voluntarily reduce oil production by 1 million bpd until the end of 2023, the kingdom’s state agency reported on Tuesday, citing an official source in the Ministry of Energy.
“Further supply constraints will support oil prices,” analysts at ANZ Group Holdings Ltd. said in a research note. “We are likely to see a significant reduction in oil inventories as a result of these restrictions.
Number of dead and wounded civilians in Ukraine from 24.02.2022 till 03.08.2023 un data
Source: Open4Business.com.ua and experts.news
Agrarians of all regions of Ukraine have started sowing winter crops for grain, as well as actively sowing rape. As of early September, 699.7 thousand hectares of winter crops have already been sown, including 654.9 thousand hectares of rape and 44.8 thousand hectares of grain, the press service of the Ministry of Agrarian Policy and Food reported.
According to the report, winter wheat has already been sown on 42.5 thousand hectares, winter barley on 1.2 thousand hectares, winter rye – 1.1 thousand hectares.
According to the ministry, due to favorable weather conditions sowing of rape has already been completed in Volyn, Poltava, Sumy and Ternopil regions. The largest areas under winter rape are now in Ternopil (72.5 thousand hectares), Vinnitsa (67.2 thousand hectares) and Kirovograd (59.4 thousand hectares) regions.
As reported, according to a survey conducted by the Ministry of Agrarian Policy, the vast majority of agrarians do not plan to significantly change the sowing areas under winter crops in 2024 compared to last season.
Almost half of the voters in Vinnytsia region (47.4%) would support Vladimir Zelensky in the presidential election. These are the data of the sociological research conducted by the company “Active Group” on August 29 – September 2, 2023.
Assessing the direction of development of the country, the region and their city residents of Vinnytsia region believe that the country as a whole is developing in the right direction. The option “Completely true” was chosen by 22.4% of respondents, “Rather true” – 32.4%. “Rather wrong” was chosen by 18.6%, “Completely wrong” – 10.1%, 16.5% found it difficult to answer the question. 19.3% of respondents believe that the situation is developing in the right direction in Vinnytsia region, 41.3% believe that this statement is “Rather true”. 18,3% are convinced that this statement is “Rather wrong”, and 7,8% chose the option – “Completely” wrong. Another 13.3% chose the option – “Difficult to answer”. At the same time, only 18.6% agreed with the option that their city (OTG) is developing in the right direction, and another 33.9% agreed with the option that this is happening “Rather true”. The answer – “Rather wrong” was chosen by 21.6%, “Completely wrong” – by 14.3%. 11.6% chose the option “I find it difficult to answer”.
Answering the question “Which civilian structure, in your opinion, makes the greatest efforts to implement defense measures?” 39.6% of respondents are fully convinced that it is the OBA. 10.2% believe that it is the regional Rada, 18.1% believe that it is the Rada of the territorial community. 15,5% – none of these structures, 16,6% find it difficult to answer.
Regarding the awareness of the activity of local officials, 74.1% of respondents have heard about the activity of the OBA (Serhiy Borzov), 43.2% – about the activity of the chairman of the territorial community, 30.8% – about the activity of the regional council (Vyacheslav Sokolovyy)
To the question – “Which of these people, in your opinion, most influences the situation in Vinnytsia region?” 63.2% answered that it is Serhiy Borzov, 41.1% – Volodymyr Groysman, 25.2% – Petro Poroshenko, 22.3% – Vyacheslav Sokolovyy.
The distribution of answers to the question – “In your opinion, which of them primarily represents the interests of the President of Ukraine Volodymyr Zelensky?” was as follows: Serhiy Borzov – 52.4%, Vyacheslav Sokolovyy – 5.4%, Chairman of the OTG – 8.3%, People’s Deputy from our district – 7.6%, none of them – 10.3%, the other – 2.6%, I find it difficult to answer – 13.4%.
The assessment of the leaders of trust on a ten-point scale was as follows: Sergei Borzov – 6.23 points, Irina Borzova – 5.82 points, Larisa Bilozir – 5.16 points, Nikolai Kucher – 4.93 points, Sergei Morgunov – 4.8 points.
On the question – “Which of these people would you vote for, if the election of the President of Ukraine were held in the near future and the following candidates were running?”, the leaders of the election race would be in Vinnytsia region as follows: Volodymyr Zelensky – 47.4% among all respondents. Petro Poroshenko – 10.7%. Serhiy Pritula – 7.8%. Dmytro Razumkov – 3.3% Yulia Tymoshenko – 3.2%. Igor Smeshko – 2.4%. Oleksiy Arestovich – 2.0%. Oleg Lyashko – 1.5%. Oleg Tyahnybok – 1.1%. Volodymyr Boyko – 0.6%. Would look for someone else – 6.2%. Would spoil the ballot – 1.0%. Would not go to the elections – 3.9%. I find it difficult to answer – 8.8%.
The situation is as follows by party: Servant of the People – 33.4% among all respondents. European Solidarity – 10.5%. Groisman’s Ukrainian strategy – 9.2%. August 24 – 3.4%. Batkivshchyna – 3.5%. Reasonable policy – 2.8%. Strength and Honor – 2.0%. Freedom – 1.5%. Voice – 1.3%. Other – 2.2%. Would spoil the ballot – 1.8%. Would not go to the polls – 6.7%. I find it difficult to answer – 18.8%.
As for the sources of information, 56.5% of Vinnichi residents would get it from Facebook, 37.5% – from Telegram, 34.8% – from the central television, 29.2% – from personal acquaintances or relatives, 27.8% – from Viber, 26.2% – from Instagram, 21.8% – from YouTube. Other sources of information received less than 20% of the respondents’ votes.
The full presentation with the results of the research can be downloaded at the link.
The research was carried out by the company “Active Group”. Survey method: personal formalized interview (face-to-face). General population: men and women over 18 years old living in Vinnytsia region. Sample: 2043 questionnaires (representative by age, gender and type of settlement). Data collection period: August 29 – September 2, 2023.
From Monday, September 11, to Thursday, September 21, a special entry/exit regime will be introduced in Uman (Cherkasy region) in connection with the celebration of Rosh Hashanah, according to the head of the regional military administration (OVA) Igor Taburets. “From September 11 to 21, a special regime of entry and exit, movement of citizens around the city will be established. The control procedure as last year,” he wrote in his Telegram channel on Tuesday.
Earlier it was reported that in the neighborhood of Uman, where the Hasidic pilgrims will live on Rosh Hashanah, will introduce several restrictions. In particular, will prohibit the sale of alcohol, the sale and use of pyrotechnics and pneumatic weapons and imitation weapons toys.
In 2023, Rosh Hashanah (Jewish New Year) will be celebrated from September 15 to 17.
The price of Brent crude oil jumped above $90 per barrel in trading on Tuesday after information emerged about Saudi Arabia’s plans to extend its voluntary production cuts until the end of 2023.
The cost of November futures for Brent on the London ICE Futures exchange at 16:35 on Tuesday is $90.5 per barrel, which is $1.5 (1.69%) higher than the price at the close of the previous session.
The price of October futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) has risen by this time by $1.81 (2.12%) to $87.36 per barrel.
Saudi Arabia will continue to voluntarily reduce oil production to 1 million bpd by the end of 2023, the kingdom’s state agency said, citing an official source in the Ministry of Energy.
Before this information was released, Brent was trading at around $88.4 per barrel, WTI at around $85.3 per barrel.
The actual level of oil production in Saudi Arabia is expected to reach 9 million bpd by the end of this year, the report emphasizes. “The voluntary decision to reduce oil production will be reviewed monthly with the possibility of reducing or increasing production,” the statement said.
This reduction is in addition to the 500 thousand bpd production cut announced in April, which will last until the end of 2024.
According to the source of the kingdom’s state agency, these steps are aimed at strengthening the precautionary measures taken by OPEC+ to maintain stability and balance in the oil markets.
