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World better prepared for Russian energy weapon in 2023

China’s demand for energy, the amount of Russian oil that will be cut from global supply will be key factors which will determine where the oil price trades in 2023.

Oil prices shrug off cap as Russia fires back with price floor threat

Oil markets will likely stay volatile in the near term amid uncertainty over the impact on Russian output from the EU's ban, headlines on China's COVID policy and central bank movements in the U.S. and Europe.

OPEC+’s massive supply cut is a clear win for Russia

The Organization of Petroleum Exporting Counties (OPEC) and its Russia-led allies of oil-producing nations struck a major blow against the West's sanctions against Moscow...

Countering loss of Russian oil over penalties, US opens reserve pump

After consultation with allies and partners, US President Joe Biden announced on March 31 the largest release of oil reserves in history, putting one...

Slow pump: OPEC+ will raise supply, can’t cool prices

The Organization of Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group known as OPEC+, said on February 2 the ministers...

The Year of Good Energy?

The Covid pandemic, geopolitics, climate change, energy and the economy are likely to be key issues in 2022.“What we have to have when we’re...

Oil climbs as OPEC+ may delay further supply recovery if there is a slump in demand

Oil prices climbed on December 3 after the Organization of the Petroleum Exporting Countries (OPEC), and oil producing allies led by Russia, a grouping...

Fearing recovery setback, OPEC+ sticks to plans to raise oil output gradually

The Organization of Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group so called OPEC+, dismissed demands from the United States...

Covid recovery, supply chain woes ratchet up oil prices

Oil prices hit multi-year highs this week as Covid recovery and coal, electricity and natural gas shortages are fueling demand for crude.“It has a...

Satisfied OPEC+ keeps oil supply status quo

At the OPEC+ meeting, which came against a backdrop with Brent trading just under $80 per barrel, oil ministers decided on October 4 to...

OPEC+ keeps output increase to 400,000 bpd despite US calls for more supply

Oil prices increased on September 3 after slow recovery for US Gulf Coast exports from hurricane Ida earlier this week and the decision by...

Oil prices fall on signals Fed will start tapering stimulus measures

Oil prices fell to three-month lows this week due to the signal from the Federal Reserve that it will start tapering stimulus measures and...

Revised OPEC+ deal very favourable for Russia

As the global economy recovers from the Covid pandemic fueling oil prices, OPEC+ countries, including Saudi Arabia and Russia, reached a deal via videoconference...

OPEC+ seeks agreement on oil production policy

The Organization of Petroleum Exporting Countries (OPEC) and non-OPEC, an energy alliance often referred to as OPEC+, was expected to reconvene via teleconference on...

China tensions, Iran nuclear talks support oil price hike

Oil prices traded close to a three-year high on June 24, supported by geopolitical tensions, including China and Iran, falling US inventories and prospects...

The last party in the oil market

The Organization of the Petroleum Exporting Countries (OPEC) and other major crude producers led by Russia, a group so-called OPEC+, agreed on June 1...

OPEC+ meets as Saudis keep finger on the pumps, Russia wants gradual output increase

The Organization of Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, convened for talks chaired by Saudi Energy Minister Abdulaziz...

Saudi Arabia, Russia coordinate policy as OPEC+ leaves oil output unchanged

The Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group so-called OPEC+, met by videoconference on March 4...

In time of pandemic, OPEC+ stands pat, sees oil rebound this year

The Organization of Petroleum Exporting Countries (OPEC) and allies led by Russia, a group known as OPEC+, reportedly maintained its oil output policy at...

Slick OPEC+ scheme boosts prices: Saudis cut, Russia, Kazakhstan raise

Oil prices climbed more than 4% on January 5 after OPEC+ reached an unusual production quotas agreement, with Saudi Arabia committing to cut the...

OPEC+ allows Kazakhstan to increase oil production in February and March

NUR-SULTAN, Kazakhstan - OPEC+ countries reached agreement on the terms of the deal for February and March. Russia and Kazakhstan, which has raised the...

Crude oil price rally may face supply side pressure in early 2021

Oil traders are optimistic the start of the deployment of vaccines means that an end to the worst economic ravages of the COVID-19 pandemic...

OPEC+ likely to extend oil cuts seeing slow fuel demand recovery from vaccines

Oil prices climbed to their highest in more than eight months on November 25 fuelled by continuing hopes that energy demand will recover once...

Russia, Saudi Arabia eye COVID-19 oil cut to hike prices

Russia and OPEC-kingpin Saudi Arabia are reportedly mulling to delay an increase in oil production in January, maintaining an output cut aimed to raise...

Too much supply, too little demand, OPEC+ wants production cuts

Fearing slow oil demand recovery, the Organization of Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, during a meeting on...

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