Oil slumps below $75
Oil prices slump accelerated: Brent fell below $75 per barrel for the first time since late 2021. According to trading data, today, world …
oil prices
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Saudi Arabia: oil price cap undermines market stability
The NOPEC bill, which was recently reintroduced in Congress by a group of legislators, and price caps on oil will only serve to increase instability and uncertainty in oil markets rather than solve any problems, …
Russian oil recovering after decline
The average price of the Urals export oil blend in February 2022 fell by 1.86 times year-on-year and amounted to $49.56 per barrel, the Russian Ministry of Finance said. "The average price of the Urals oil blend was formed as …
Switzerland joins EU price cap for Russian oil
The Swiss authorities have joined the price caps for Russian oil and petroleum products set by the European Union, the Federal Council, the Swiss government announced. "The Federal Council today aligned its sanctions regime on …
EU predicts Brent oil price in 2023
The European Commission expects the Brent oil price to be about $84.8 per barrel in 2023 and $79.9 per barrel in 2024. The previous analysis assumed an average price of $85. “The European Union expects the average price …
Russia increases oil exports in 2022
Russia's oil exports went up 7.6% to 242 million tonnes in 2023, Russian Deputy Prime Minister Alexander Novak said in an article for the Energy Policy journal. According to him, Russian oil production rose 2% to 535.2 million …
Russia triggers surge in oil prices
After Alexander Novak announced that Russia would cut oil production by 500 barrels, its price skyrocketed.
Europe shoots itself in the foot trying to ban Russian rubber
European Commission head Ursula von der Leyen promised to introduce a new package sanctions against Russia this month. This would already be the tenth package of anti-Russian sanctions. New sanctions are being imposed almost …
Europe, US introduce price cap for Russian oil products
The cap was approved at $100 for gasoline and diesel fuel, and $45 for discounted oil products. The European Union and Washington officially approved the price ceiling for oil products produced in Russia. The European …
Oil prices stable as market awaits signs of China demand recovery
Oil prices were little changed on Friday, with major benchmarks headed for their second straight week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. …
OPEC+ committee recommends no change in oil output policy
The OPEC+ Joint Ministerial Monitoring Committee (JMMC) confirmed oil production agreements reached at the meeting in January and made no recommendation on a change in the OPEC+ policy, OPEC said in the final communique posted on its website. …
Average price of Russian oil drops in January
The average price of the Russian Urals export crude oil amounted to $49.48 per barrel in January 2023, the Russian Finance Ministry reported on its Telegram channel on Wednesday. "The average price of the Urals oil amounted to …
OPEC+ ministers to discuss market fundamentals today
Ministers from OPEC+ countries are due to hold a virtual meeting on market fundamentals at 11:00 GMT on Feb. 1. The panel, called the Joint Ministerial Monitoring Committee (JMMC), can call for a full OPEC+ meeting if …
IMF: oil price to fall by 16% to $81 a barrel in 2023
The International Monetary Fund (IMF) forecasts price of a barrel of oil will go down this year by 16.2%, to $81.13, according to the IMF’s World Economic Outlook update. "In 2023, oil prices are projected to fall by about …
Oil prices set to climb on rumors that the Fed will stop hiking interest rates
Traders expect the Fed to end its rate-hike policy as soon as March, as economic indicators suggest inflation is slowing down. Oil prices climbed last week on the positive economic data coming out of the United States, but …
Oil mixed as investors weigh China demand and U.S. outlook
Crude oil prices edged higher in Asian trade on Tuesday amid hopes of a fuel demand recovery from top importer China, although concerns about a slowdown in the U.S. economy capped gains.
Brent oil rises to $88 per barrel
The price of Brent crude oil with March delivery surpassed $88 per barrel for the first time since December 5 on London’s ICE. As of 12:31 Moscow time, the price of Brent rose by 0.42% to $88 per barrel. By 12:43 Moscow …
Brent oil surpasses $87 on London’s ICE
The price of Brent oil on London’s ICE surpassed $87 per barrel for the first time since December 5. As of 12:42 Moscow time, the price of Brent futures contracts with March delivery rose by 1.48% to $87.19 per barrel. …
Brent oil price rises to $87 first time since January 3
The price of Brent oil on London’s ICE rose to $87 per barrel for the first time since January 3. As of 08:53 Moscow time, the price of Brent oil rose by 1.26% to $87 per barrel. By 9:15 Moscow time, the price of Brent …
Putin: Russia's oil production up despite sanctions
Oil production in Russia increased by 2% to 535 million tonnes despite sanctions against Moscow, Russian President Vladimir Putin said on Tuesday. "Despite sanctions pressure, oil production in Russia increased by about 2% in 2022, …
