Oil and Gas
Russia doesn’t have extra oil for new deals with two Indian buyers: Reuters, citing sources
An illuminated logo sits on display above the Rosneft Oil Co. pavilion on June 5, 2019. Russia’s Rosneft is holding back on signing new crude oil deals with two Indian state refiners, three sources with knowledge of the matter said, as it has committed sales to other customers. Andrey Rudakov | Bloomberg | Getty Images […]
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Even if oil hits $150 a barrel, J.P. Morgan’s Marko Kolanovic predicts stocks will reclaim 2022 highs
J.P. Morgan’s Marko Kolanovic predicts oil is surging higher — but so are stocks. Kolanovic, who serves as the firm’s chief global markets strategist and co-head of global research, believes the U.S. economy is strong enough to handle oil prices as high as $150 a barrel. “There could be some potential further spikes in oil, […]
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OPEC+ has ‘kind of broken down’ as Russia loses relevance and group faces tight spare capacity
OPEC+ has “kind of broken down,” the lead analyst of an oil research firm said after oil prices rose despite the alliance announcing that it would increase supply more quickly. OPEC and its allies decided to take nearly 10 million barrels off the oil market in 2020 when Covid first hit and demand evaporated. The […]
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Oil slips after OPEC+ hike, tight supply limits loss
An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Oil slipped on Friday after OPEC+ decided to increase production targets by slightly more than planned, although tight global supply and rising demand as China eases Covid restrictions […]
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Gas or renewables? With the world in an unprecedented energy crisis, top CEOs are searching for solutions
From the Covid-19 pandemic and supply chain shocks to rising inflation and Russia’s invasion of Ukraine, governments and businesses around the world are attempting to tackle and solve major crises — many of them interlinked — on multiple fronts. Against this challenging backdrop, energy markets have been roiled, with gas and oil prices surging and […]
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How Russia could try to get around the European Union’s oil sanctions
The EU’s partial embargo covers Russian oil brought into the bloc by sea, with an exemption carved out for imports delivered by pipeline following opposition from Hungary. Attila Kisbenedek | Afp | Getty Images Moscow could respond to European sanctions on Russian oil by seeking other buyers for its crude or cutting production to keep […]
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Oil prices slide after report Saudi Arabia could step up if Russian output dips under sanctions
All eyes are on whether Saudi Arabia will raise crude production if Russia’s output significantly falls following European Union oil sanctions. Andrey Rudakov | Bloomberg | Getty Images Oil prices dropped more than 2% following a report that Saudi Arabia is prepared to raise crude production if Russia’s output significantly falls following European Union sanctions. […]
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Tough new sanctions on Russia could hit world oil supply and change the OPEC+ dynamic
OPEC+ is expected to stick to its current production agreement for now, but behind the scenes the oil-producing nations could be planning for the day when Russia’s contribution to world oil supply could be far reduced. The European Union’s move to ban most Russian oil and put new sanctions on shipping insurance could seriously hamper […]
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These charts show how Russia’s invasion of Ukraine has changed global oil flows
European Union leaders reached an agreement this week to ban the majority of Russian crude oil and petroleum product imports, but nations were already shunning the country’s oil, altering global flows for the commodity that powers the world. Russian oil exports had already been hurt by some EU members acting preemptively in anticipation of potential […]
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Russia hits back at the EU’s partial oil embargo, says it will find other importers for its crude
The EU’s partial embargo covers Russian oil brought into the bloc by sea, with an exemption carved out for imports delivered by pipeline following opposition from Hungary. Attila Kisbenedek | Afp | Getty Images Moscow pledged to find other importers for its oil shortly after the world’s largest trading bloc agreed to impose a partial […]
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