Crude oil prices rise amid demand recovery

Weekly Economic Indicators released by the Central Bank of Sri Lanka (CBSL) for 1 – 7 January 2022 show crude oil prices taking an upward trend.

“During the period under review prices increased mainly due to hopes on further demand recovery in 2022. Decision of OPEC+ countries to adhere to their planned increase for February 2022, escalating unrest in Kazakhstan and supply outages in Libya also supported the price increases. Overall, both Brent and WTI prices increased by US dollars 4.40 and US dollars 4.45 per barrel, respectively, during the period,” the CBSL said.

Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play. 

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