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New OPEC Secretary-General Haitham Al Ghais said Wednesday that the influential producer group is not to blame for soaring inflation, pointing the finger instead at chronic underinvestment in the oil and gas industry. “OPEC is not …
Oil prices rose on Wednesday, recovering from six-month lows hit the previous day, as a larger-than-expected drop in U.S. oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global …
Oil prices have given up in recent weeks all the gains they had made since the Russian special operation in Ukraine as market fears of recession intensified
The price of futures contracts of Brent crude oil for October 2022 delivery decreased below $94 per barrel on London's ICE on Thursday for the first time since February 21, 2022, according to trading data. As of 6:22 pm Moscow …
Member-states of the Group of Seven (G7) are considering an opportunity of introducing the complete ban on services of oil carriage from Russia if its price is not approved by ‘international partners’ according to the foreign …
The United States is looking to convince major oil importers, including Russia's key buyers these days, China and India, to endorse a plan to cap the price of Russian oil they are buying. The U.S. and other major developed …
Georgian Economy Minister Levan Davitashvili rejected the notion of Georgia buying oil subject to international sanctions on Russia, adding the country abided by the sanctions with "maximum responsibility". The Minister made …
freeing up exportable oil
Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles stoked demand worries and returning energy supply from Libya and Russia eased supply concerns. Brent crude futures lost $5.13, or 4.8%, to $101.79 a …
According to the trading data, world oil prices continue falling. Thus, by 16:56 (Moscow time) the cost of September Brent North Sea oil mixture futures fell to $95.64 per barrel (a 3.99% drop). A few minutes earlier, Brent fell to …
Oil prices fell on Thursday as investors weighed tight supplies against the prospect of a large U.S. rate hike that could stem inflation and curb crude demand. Brent crude futures for September were down 18 cents to $99.39 a barrel at …
Global oil markets are on edge over the specter of another civil war
The cost of September for North Sea Brent crude oil futures approached $106 per barrel, according to data from the London ICI exchange. By 17:39 (Moscow time) Brent reached $105.8 per barrel (an 5.09% increase). At the same …
Oil prices regained a footing on Thursday from steep falls in the previous two sessions, as investors returned their focus to tight supplies even as fears persisted over the demand outlook amid risks of a global recession. Brent crude …
Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession …
According to the trading data on the London Stock Exchange ICE, the price of September futures for North Sea Brent crude oil fell below $107 per barrel. So, by 16:35 (Moscow time) Brent fell to $106.91 per barrel (a drop of …
Saudi Arabia's push for swifter oil production hikes by OPEC+, which were agreed in June, involved behind-the-scenes diplomacy to ensure Russia backed the move
A proposed price cap on Russian oil exports will only work if countries beyond Europe and the United States join the scheme, Shell Chief Executive Ben van Beurden said. The G7 group of countries agreed on Tuesday to impose a ban on …
Energy expert Dan Yergin said there are two reasons why oil prices have dropped in the past month despite a market that is still tight: the Fed and Russia’s special operation in Ukraine. According to …
The price of Brent oil futures with delivery in August 2022 declined by over 3.5% to less than $111 per barrel on the London-based ICE on Wednesday, for the first time since May 20, according to trading data. As of 05:05 Moscow time, …
