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Oil prices were little changed on Wednesday ahead of a meeting of OPEC+ producers to discuss a big cut in crude output after gaining more than 3% in the previous session. Brent crude was up 1 cent at $91.81 a barrel at 0628 GMT, after …
The European Union is aiming for a preliminary deal as soon as Monday on a new sanctions package against Russia. “I am hopeful in a couple of hours we can have a unanimous agreement on the sanctions package,” Polish …
OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness. The meeting …
Several major producers of the OPEC+ alliance have started talks about a potential oil production cut ahead of the regular monthly OPEC+
Imports of Russian oil totalled 8.342 million tonnes, up 28% Y/Y, the equivalent of 1.96 million barrels per day
According to trading data, the price of a futures contract for Brent crude oil for delivery in November on the London ICE exchange fell below $89 per barrel for the first time since September 9, 2022. The price of futures for WTI crude …
Lebanon central bank stops fuel subsidies, prices set to rise
Germany’s Finance Minister Christian Lindner said he’ll be “inviting all members of the EU to support the idea of an oil price cap.” Speaking before an informal meeting of European Union finance chiefs in …
Oil prices rose by as much as $1 per barrel on Thursday after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia focused investor minds on how tight fuel supply may become. …
Saudi Arabia cut oil prices for customers in Asia as coronavirus lockdowns and sagging economies cool energy demand in the two regions. State-controlled Saudi Aramco lowered its key Arab Light grade for October’s …
The Group of Seven (G7) finance ministers plan to implement a price cap on Russian-origin crude oil and petroleum products, they confirmed in a joint statement on Friday. The initial price cap will be based on range of technical inputs …
Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China's COVID-19 curbs and weak global growth continued to limit gains and a potential cap on the price of Russian exports …
Russia will suspend supplies of oil and petroleum products to states, which will decide to restrict the price of oil from the country, Deputy Prime Minister Alexander Novak told reporters on Thursday. "As far as price restrictions …
Finance ministers of the Group of Seven (G7) will approve the plan stipulating the Russian oil price cap at their meeting on Friday, The Wall Street Journal newspaper reported, citing sources. The plan also stipulates setting the price …
Turkey’s economy lurched forward at a faster rate than expected, as the highest inflation in 24 years prompted consumers to bring forward purchases in anticipation of steeper prices ahead. Gross domestic product rose an annual 7.6% in …
Oil prices recovered slightly on Wednesday as data pointed to firm U.S. fuel demand, providing respite after a 5% drop a day earlier on fears that demand will suffer from increased China COVID curbs and central bank interest rate hikes. …
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude …
Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural gas prices in Europe, helped offset a dire outlook for U.S. growth. …
The idea that OPEC+ could consider production cuts in the near future would be in line with OPEC’s view, the rotating president of OPEC, Congo’s Hydrocarbons Minister Bruno Jean-Richard Itoua, told The Wall Street …
Oil prices rose on Thursday on mounting supply tightness concerns, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery. Brent crude rose 45 cents, or 0.4%, to $101.67 a barrel by 0630 GMT, while …
