Putin Extends Ban on Selling Oil at Price Cap
Russian President Vladimir Putin has extended until June 30 the ban on selling crude oil and petroleum products to recipients adhering to the price cap set by the G7 countries, EU and Australia
Russian President Vladimir Putin has extended until June 30 the ban on selling crude oil and petroleum products to recipients adhering to the price cap set by the G7 countries, EU and Australia
OPEC said it remains cautiously optimistic about the fundamentals of the oil market for 2024 and blamed ‘exaggerated concerns’ about demand for the recent price drop, while sticking to its relatively high prediction of crude consumption for next year
The top Arab energy ministers of OPEC arrived in Doha to participate in the 12th Arab Energy Conference, as countries face off at the COP28 UN climate summit over a potential agreement to phase out fossil fuels gradually
OPEC’s oil production fell in November, marking the first monthly decline since July, according to a Reuters survey, due to lower shipments from Nigeria and Iraq amid ongoing cuts by Saudi Arabia and other members
The oil production cuts by OPEC+ can “absolutely” continue beyond the first quarter of 2024 if necessary, said Saudi Energy Minister, Prince Abdulaziz bin Salman
The Secretary-General of OPEC, Haitham al-Ghais, said during a panel discussion at the COP28 climate summit in Dubai that stating that oil has to remain underground will not lead to an energy transition but to energy chaos
OPEC+ members reached an agreement to voluntarily cut their oil production by around 2.2 million barrels per day (bpd) at the beginning of next year, led by Saudi Arabia, which will extend its current voluntary reduction
U.S. field production of crude oil rose to a new monthly record in August at 13.05 million barrels per day, the Energy Information Administration said
Argentina achieved a record oil production in September, thanks to the boost from the massive unconventional hydrocarbon formation of Vaca Muerta in the southwest of the country, according to official sources
Russia has not discussed with the OPEC+ group of leading oil producers a possible crude oil supply increase to compensate for Russia’s fuel exports ban, the Kremlin said