Friday, February 21, 2025
Russia's May oil output hits 11-month low on dirty oil crisis - Oil & Gas 360

Russia’s May oil output hits 11-month low on dirty oil crisis

From Reuters MOSCOW (Reuters) – Russian oil output fell to 11.11 million barrels per day (bpd) in May, its lowest level since June 2018, from 11.23 million bpd in April, Energy Ministry data showed on Sunday. The production fall resulted mainly from the closure due to oil contamination of Russia’s Druzhba pipeline, which usually ships 1 million bpd, or 1

Brent Oil Sinks Under $60 as U.S. Storage Jumps Most in 30 Years - Oil & Gas 360

Brent Oil Sinks Under $60 as U.S. Storage Jumps Most in 30 Years

From Bloomberg Total petroleum stockpiles rise by 22 million barrels: EIA, Global benchmark falls as low as $59.45 amid market ‘meltdown’ Brent crude futures tumbled below $60 a barrel after a report showed U.S. crude and fuel inventories ballooning by the most in a generation, feeding fears of a growing oversupply even as trade disputes threaten demand. London-traded futures fell