Yahoo Finance LONDON – OPEC oil output fell last month, a Reuters survey found on Monday, reflecting lower exports from Iraq and Nigeria against a backdrop of ongoing voluntary supply cuts by some members agreed with the wider OPEC+ alliance. The Organization of the Petroleum Exporting Countries pumped 26.42 million barrels per day (bpd) last month, down 50,000 bpd from
Oil Price The recent rally in oil prices is pushing the benchmarks towards a quarter of gains thanks to the OPEC+ output cuts. WTI, according to Bloomberg, has added 14% since the start of the year, topping $82 per barrel earlier this week. Brent crude has gone from around $78 per barrel at the start of the year to over $86
Oil Price Russia is seeing months of delays in payments for its oil exports as banks in its major trader partners, including China, the UAE, and Turkey, are now scrutinizing transactions wary of the tighter U.S. sanctions, numerous unnamed sources with knowledge of the matter have told Reuters. Russian oil firms are struggling to collect the payments for their exports on
US News LONDON – Oil was little changed on Tuesday after rising in the previous session as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support. Front-month Brent crude futures due to expire on Thursday were unchanged at $86.75 a barrel at 1310
Oil Price SLB, the biggest oilfield services firm in the world, is not planning to abandon its business in Russia, chief executive Olivier Le Peuch told the Financial Times in an interview published on Monday. Pressure has mounted on companies, especially in the oil and gas industry, to withdraw from Russia after the invasion of Ukraine in February 2022. Many energy majors
Nasdaq MOSCOW – Russia’s government has ordered companies to reduce oil output in the second quarter to ensure they meet a production target of 9 million barrels per day (bpd) by the end of June in line with its pledges to OPEC+, three industry sources said on Monday. Earlier this month, Russian Deputy Prime Minister Alexander Novak said that Russia would cut
CNBC Brent crude briefly topped $86 per barrel on Monday for the first time since November, before pulling back, as Ukraine stepped up its attacks on Russian energy infrastructure. Brent crude oil futures for May delivery were up 51 cents at $85.85 a barrel at 1333 GMT. The April contract for U.S. West Texas Intermediate (WTI) crude was up 62
Yahoo Finance HOUSTON -Oil prices rose about 2% on Monday on concerns over global energy supplies following a Ukrainian drone strike on Russia’s Novatek fuel terminal and as extreme cold weather continued to hamper U.S. crude production. Brent March crude futures settled at $80.06 a barrel, up $1.50, or 1.9%. Front-month U.S. West Texas Intermediate crude futures contract (WTI) for
Nasdaq LONDON – Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show. Nord Stream AG names Lloyd’s Insurance Company and Arch Insurance (EU) DAC ACGL.O as defendants in its lawsuit, which was filed at London’s High Court last month. Switzerland-based Nord
Yahoo Finance LONDON/WASHINGTON-Dozens of oil tankers used by Russia have stopped sailing under the Liberian and Marshall Islands flags in recent weeks after the United States ramped up sanctions enforcement on ships linked to those registries, according to shipping data and interviews with industry and government officials. The shift reflects the close relationship between the U.S. and the flag administration
Oil Price An EU sanctions loophole that allows imports of Russian crude if it’s refined elsewhere made Russia an estimated $1.2 billion (1.1 billion euros) from sales of fuels in the European Union last year, despite the embargo on direct imports from Russia, an investigation by NGO Global Witness showed on Friday. For more than a year, the EU has had a
Oil Price The United States and the EU, together with partners, discussed this week the potential of slapping “robust” new sanctions on Russia ahead of the second anniversary of the Russian invasion of Ukraine, a senior U.S. official told Reuters. The partners met in Brussels and “Many of us are prepared to roll out quite robust anniversary packages,” the official told
