Russia’s oil sales to China have hit their highest level since...
Russia is selling the most crude and fuel oil to China since invading Ukraine last year, according to data from Kpler. The analytics firm found that Russia was selling 1.66 million barrels a day to China last month. The increase in exports comes after China relaxed its zero-COVID policies in December, spurring more demand for…
Putin has destroyed Russia’s most important oil market – and what’s...
The EU ban on seaborne Russian oil came in Monday, alongside a price cap of $60 a barrel. Putin has "destroyed his most important market for his oil" as Europe now wants no part of it, Daniel Yergin said. Crude prices in the next few weeks depend on what Russia and China's leaders decide, the…
Putin has destroyed Russia’s most important oil market – and what’s...
The EU ban on seaborne Russian oil came in Monday, alongside a price cap of $60 a barrel. Putin has "destroyed his most important market for his oil" as Europe now wants no part of it, Daniel Yergin said. Crude prices in the next few weeks depend on what Russia and China's leaders decide, the…
Russia could evade the G7’s plan to cap crude prices and...
Russia could still evade the G7's plan to cap crude prices and sell most of its oil, a US Treasury official told Reuters. Russia has enough tankers to bypass the price cap measure, and has purchased more this year to go around sanctions. G7 nations are mostly focused on mitigating self-damage from the price cap…
OPEC+ nations are falling way behind on production targets despite a...
OPEC+ nations are falling way behind on their production targets for crude oil, despite delivering a small boost in output in September. The cartel and its allies fell short 3.6 million barrels a day from their promised quota last month, S&P Global said. But last week, OPEC+ agreed to slash its quota by 2 million…
Russia applauds OPEC+ for its huge oil output cut, reportedly saying...
Russia hailed OPEC+ for its "thoughtful" decision to slash oil production targets, per media reports Sunday. The move will balance the "mayhem" created by the US in energy markets, a Kremlin spokesman said. With midterm elections ahead, the White House slammed OPEC+ for "aligning" with Moscow on the oil market. Loading Something is loading. Thanks…
A cap on the price of Russia oil would give countries...
A cap on the price of Russian oil would give countries more leverage to negotiate better prices from suppliers. A Treasury official added that the US had "positive" talks with China and India, major buyers of Russian crude. G7 nations are ironing out details about the cap, such as penalties for countries who don't adhere…
Oil climbs 4% after OPEC+ decides to trim output by 100,000...
Oil rose about 4% Monday after OPEC+ agreed to cut output by 100,000 barrels a day in October. Crude producers agreed to trim supply after prices fell and Saudi Arabia floated the idea. Also in focus is the G7's Russian oil price cap plan, after Moscow said it won't sell to those participating. Loading Something…
