OPEC and its allies led by Russia agreed to a small oil production cut to bolster prices that have slid on fears of an economic slowdown

Russia’s oil output has exceeded expectations in the wake of the war in Ukraine but Moscow will find it increasingly difficult to uphold production as Western sanctions begin to bite, the head of the International Energy Agency (IEA) said

High energy prices could almost double oil producers’ free cash from operations this year to $1.4 trillion, money that can be used to finance a shift to renewable fuels, pay down debt or reward investors, according to a study

Benchmark Brent oil climbed above $100 a barrel after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn

Potential OPEC+ production cuts mooted this week by Saudi Arabia may not be imminent and are likely to coincide with the return of Iran to oil markets should it clinch a nuclear deal with the West

Turkey increased oil imports from Russia, including Urals and Siberian Light grades, beyond 200,000 barrels per day (bpd) so far this year compared to just 98,000 bpd for the same period of 2021

Iran increased its oil exports in June and July and could raise them further this month by offering a deeper discount to Russian crude for its main buyer China, firms tracking the flows said

Oil prices fell about 3% to their lowest since before Russia’s invasion of Ukraine as economic data spurred concerns about a potential global recession, while the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports

Royón will be accompanied by “Santiago Yanotti as Undersecretary of Electric Energy, Federico Bernal as Undersecretary of Hydrocarbons and Cecilia Garibotti as Undersecretary of Planning,” the new Minister of Economy, Sergio Massa, said

The official selling price (OSP) for September-loading Arab Light to Asia was raised by 50 cents a barrel from August to $9.80 a barrel over Oman/Dubai quotes, state oil producer Saudi Aramco said