Tuesday, April 29, 2025
Novak says Russia backs OPEC+ 500,000 bpd oil output hike from February- oil and gas 360

Novak says Russia backs OPEC+ 500,000 bpd oil output hike from February

Reuters MOSCOW – Russia expects to support an increase in oil production by the group, known as OPEC+, of another 500,000 barrels per day (bpd) from February at next month’s summit of the leading global oil producers, Russian Deputy Prime Minister Alexander Novak said. Oil prices are trading above $50 per barrel, after coming under pressure this week from concerns

Mexico takes controversial step to limit private fuel imports- oil and gas 360

Mexico takes controversial step to limit private fuel imports

Reuters MEXICO CITY – Mexico’s government has issued new regulations to limit the ability of private firms to import fuel, according to a weekend decree, fanning concerns that the move may unduly benefit national oil company Petroleos Mexicanos (Pemex). The rules, issued by the energy ministry and scheduled to go into force on Monday, are part of a drive by

Oil steadies below $52 as U.S. stimulus counters weak demand- oil and gas 360

Oil steadies below $52 as U.S. stimulus counters weak demand

Reuters LONDON – Oil steadied on Monday, after earlier rising to $52 a barrel, as optimism over the U.S. stimulus package and the start of a European vaccination campaign was balanced by weak demand and the prospect of higher OPEC+ output. After U.S. President Donald Trump backed down from a threat to block the $2.3 trillion package, Democrats on Monday