Brent rallies to $90 for the first time since last year
Oil prices continue to rise. Brent benchmark rose above $90 per barrel for the first time in 10 months, and WTI reached $87
oil prices
page 3
Russia's oil export duty to rise by 25%
Russia's export duty on oil will rise by $4.5 to $21.4 per tonne beginning on September 1, 2023, according to the Russian Finance Ministry. The government plans to increase the oil export duty next month, up by a …
Brent crude oil price climbing to $90
The price of futures contracts of Brent crude oil for October delivery rose above $88 per barrel on London's ICE on August 10 for the first time since January 27, 2023, according to trading data. As of 10:21 a.m. Moscow time the …
Russia begins oil exports reduction under OPEC+ ahead of schedule
Russia has started cutting oil supplies abroad in advance. Next month, it is planned to implement the all the declared agreements within the framework of OPEC+, the Ministry of Energy announced.
Oil rises in price again
Benchmark crude oil prices are rising again, and the reason for this is the upcoming meeting of the US Federal Reserve, which is scheduled for tomorrow, July 25. The US Federal Reserve is expected to raise the discount rate by 25 basis points.
Export duty on Russian oil goes down
The Ministry of Finance of the Russian Federation announced that Russia reduced the export duty on oil to $15.6 per ton from July 1. The duty on light and dark oil products also declined.
OPEC Secretary General holds meeting with Ilham Aliyev
President of Azerbaijan Ilham Aliyev has today received Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al …
Sechin: growth of global oil price inevitable
Global prices of oil will rise amid its deficit on the market because of the shortage of investment, Chief Executive Officer of Rosneft Igor Sechin said at …
Oil steady after U.S. debt deal
Oil prices were steady on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest economy and oil consumer, but concerns about further interest rate hikes capped gains. …
Oil rallies amid news from US
Oil prices rise after a weekly decline amid news from the US
EIA lowers price forecasts for WTI and Brent oil
The Energy Information Administration cut its 2023 and 2024 forecasts for U.S. and global benchmark crude-oil prices, according to the Short-Term Energy Outlook report. "Ongoing considerations about weakening global economic …
Iran oil production exceeds 3 million barrels per day
Iranian oil production has surpassed 3 million barrels per day, Iran’s Oil Minister Javad Owji said, according to the Oil Ministry’s website SHANA. “Over the last 20 months, Iran’s oil production has reached …
Oil prices extend losses ahead of expected interest rate hikes
Oil extended losses on Wednesday after plunging 5% in the previous session, as investors priced in expectations for interest rate hikes in the U.S. and Europe and waited for clarity on future policy path. Brent futures dipped 12 cents, …
Novak assesses global oil market situation
Oil market is now balanced, and its prices fluctuate around $80 per barrel, reacting to the dynamics of related markets and exchanges, Russian Deputy Prime Minister …
Oil prices slightly increasing
Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. Brent …
G7 to keep Russian oil price cap at $60
The Group of Seven (G7) coalition has decided to keep a $60 per barrel price cap on seaborne Russian oil, despite calls by some countries for a lower price cap, Reuters reported on Monday citing a coalition official. According …
Oil prices surge after Russia and Arab world announce cuts
Oil prices continue to soar on Tuesday after OPEC+ countries said they will cut production by 1.15 million barrels per day from May until the end of the year. Brent crude had topped $85 per barrel and WTI was trading at …
Arab world joins Russia in cutting oil output
Saudi Arabia will voluntarily reduce its oil production by 500,000 barrels per day from May until the end of 2023 in coordination with other members of the oil producers’ alliance, the Saudi Press Agency reported. Russia would …
Russia to extend oil production cuts by 500,000 barrels per day
Russian will extend its voluntary oil production reduction by 500,000 barrels per day from February’s average output until the end of 2023, Russian Deputy Prime Minister Alexander Novak said. "As responsible and preemptive …
WTI oil sinks to the lowest since December 2021
Oil prices sank, with West Texas Intermediate plunging below $65 a barrel, as escalating investor concerns about a global banking crisis eroded appetite for risk assets including commodities. U.S. benchmark crude futures retreated as …
