U.S. asks suppliers to increase oil production
U.S. Energy Secretary Jennifer Granholm shot down President Joe Biden’s claim that he would not meet with Saudi Crown Prince Mohammad bin Salman, completing the administration’s reneging on the …
oil prices
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Indigenous groups in Ecuador defy curfew to protest fuel hike
Indigenous groups are keeping up protests in most of Ecuador’s provinces to demand a reduction of fuel prices and economic reforms
Oil prices edge higher
Oil prices made gains on Wednesday, rebounding from losses earlier in the session amid concerns over fuel demand and the broader economy ahead of an expected big hike in interest rates by the U.S. Federal Reserve. In volatile trading …
OPEC sees global oil demand growth slowing
World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy
Oil prices rise after OPEC report
World oil prices are rising after the monthly OPEC report's publication, according to trading data. Thus, the price of August Brent crude futures rose by 0.4% - to $122.75 per barrel, July WTI futures - by 0.25%, to …
Brent crude oil price surpasses $122
The price of futures contracts of Brent crude oil for August 2022 delivery accelerated growth to 1.4% on London’s ICE on Wednesday and reached $122.26 per barrel. The cost of a futures contract for WTI crude oil grew by 1.52% to $121.21 per …
Alexey Belogoriev: "Oil is growing on expectations of a meeting between Biden and Salman"
Despite the decision of OPEC + to increase oil production quotas, coronavirus lockdowns in China and global statistics indicating that there is no shortage of oil, oil prices continue to grow. Today, they exceeded $120 per barrel of Brent …
Saudi Arabia raises oil prices for Asia more than expected
Saudi Arabia raised the July official selling price (OSP) for its flagship Arab light crude to Asia by $2.10 from June to $6.50 premium versus the average of the Oman and Dubai benchmarks, state oil producer Aramco said. The July OSP is …
Lavrov says OPEC+ still relevant for Moscow
Russian Foreign Minister Sergei Lavrov said on Wednesday that cooperation through the OPEC+ grouping remains relevant for Russia. Speaking in Saudi Arabia on the latest leg of a visit to the Middle East, Lavrov told a news conference: …
Russia could lose about $22 billion through oil ban
Russia stands to loose about $10 billion a year in oil exports revenues if the EU bans shipments, according to Bloomberg calculations. That’s because Russia would be forced to sell its crude at a discount to Asia, where it is …
Oil bull run continues
Oil prices extended a bull run on Tuesday after the EU agreed to a partial ban on Russian oil and China decided to lift some coronavirus restrictions amid rising demand ahead of peak U.S. and European summer driving season. Brent crude …
Iran's energy export revenue up 60% in March-May
Iran’s foreign currency earnings from exports of oil, gas condensate, natural gas and petrochemicals rose more than 60% from March 21 to May 21, compared to the same period last year, the oil ministry’s official news agency, Shana, …
Novak: Russian oil production may decline to 480-500 mln tonnes in 2022
Oil production in Russia may go down from 524 mln tonnes in 2021 to 480-500 mln tonnes in 2022, Deputy Prime Minister Alexander Novak told reporters, adding that the government expects a gradual output recovery after its decrease in April 2022 by …
Brent oil rises above $115 per barrel
Brent oil futures for July delivery climbed to $115.1 on ICE in London, exchange data show. That’s the first time Brent topped $115 a barrel since March 28, 2022. Trading data showed Brent at $115.1 a barrel, or up 0.84%, as of …
Oil slips more than 1%
Oil prices dropped more than 1% on Thursday in a volatile week as economic concerns and recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe. Brent crude futures slipped $1.25, …
OPEC splits US legislators
A U.S. Senate committee passed a bill yesterday that could expose the Organization of the Petroleum Exporting Countries and partners to lawsuits for collusion on boosting crude oil prices
Oil prices up over proposed ban on Russian gas supplies
Oil prices increased on Thursday over the European Commission's proposal to ban Russian oil by the year end, although the more-than-expected rise in US crude stocks limited gains. International benchmark Brent crude cost …
India wants Russia to discount its oil - report
India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter. India is seeking Russian cargoes at less …
EU chief calls for Russian oil ban in new set of sanctions
The European Union's chief executive Ursula von der Leyen on Wednesday proposed a phased oil embargo on Russia, as well as sanctions on its top bank and to ban Russian broadcasters from European airwaves. The plan, if agreed by …
Dollar down below 69 rubles
The ruble in trading on Wednesday on the Moscow Exchange strengthened against the dollar and the euro. Today, the dollar exchange rate decreased below 69 rubles, while the euro dropped to 72 rubles . Yesterday, the dollar …
