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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 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. …
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. …
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 …
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 …
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 …
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 …
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.
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 …
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. …
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 …
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, …
Russia's budget revenues from the oil and gas industry grew 28% annually in 2022, Russian Deputy Prime Minister Alexander Novak said during a government meeting shown on state television on Monday. According to Novak, that increase …
Today, UAE Minister of Energy Suhail al-Mazrouei announced the reduction in oil production capacity of OPEC + countries by 3.7 mn barrels per day. The main reason is underinvestment in 2020-2022. "OPEC+ countries produce up to 40% …
The United States and its Western allies are preparing fresh sanctions on the Russian oil sector, including a cap on refined petroleum products, the Wall Street Journal reported, citing people familiar with the plans. U.S. Treasury …
Discount on Russian oil grew in January mainly due to the rise in freight prices, Russian Deputy Prime Minister Alexander Novak said. "I hope that this situation will be temporary. The discount should decrease over time, as we …
The U.S. administration is delaying the replenishment of the nation’s emergency oil reserve after deciding the offers it received were either too expensive or didn’t meet the required specifications, according to people familiar with …
Oil prices were little changed on Friday as the market balanced a weaker U.S. dollar and mixed U.S. jobs reports, but both crude benchmarks ended the first week of the year lower due to global recession concerns. Brent futures fell 12 …
According to the forecast of the Swiss bank UBS Group AG, this year, oil prices will go up due to the continued underinvestment of the oil industry and the significant growth of the Chinese economy. The bank's analysts expect Brent …
Oil prices held in a narrow range on Tuesday, though the outlook for demand was clouded by a weak manufacturing activity survey from China, and a warning from the head of the International Monetary Fund that the global economy faced a tough year …
