Energy- Russia announces oil supply cut The oil market finished last week strongly, rallying by more than 2.2% on Friday. This move higher came as Russia announced that it would cut oil supply by 500Mbbls/d from March as a response to sanctions against it. While there is an element within the...
https://www.hellenicshippingnews.com/the-commodities-feed-russian-supply-cut/
Russian Deputy Prime Minister Alexander Novak said on Friday there were risks that Russia’s oil production could drop in 2023, under the pressure of a European Union embargo and a G7 price cap on Russian oil, Russian news agencies reported. Russian oil production defied numerous predictions of a...
https://www.hellenicshippingnews.com/russia-sees-risk-of-oil-output-dipping-in-2023-agencies/
Russia’s deputy prime minister, Alexander Novak, announced that the country plans to cut its oil production by 500,000 barrels per day (bpd) in March. The deputy prime minister said the aim of the cut is to improve the market situation, reiterating the country will not comply with any Western price...
https://www.hellenicshippingnews.com/crude-oil-russia-plans-to-cut-its-oil-production-in-march/
Oil prices slumped by about 1% on Monday as investors focused on short-term demand concerns ahead of key U.S. inflation data. Brent crude futures fell $1.14, or 1.3%, to $85.25 a barrel by 1005 GMT after a 2.2% gain on Friday. U.S. West Texas Intermediate crude was down $1.11, or 1.3%, at $78.61...
Goldman Sachs lowered its oil price forecasts for this year and next but still expects prices to rise gradually to $100 a barrel by December. Goldman lowered it Brent 2023 price forecast to $92 per barrel (bbl) from $98/bbl and its 2024 price forecast to $100/bbl from $105/bbl. “This adjustment...
https://www.hellenicshippingnews.com/goldman-lowers-2023-brent-price-forecast-to-92-bbl/
This weekend’s Super Bowl is the annual showpiece for American football’s top professional teams, and marks the end of the fantasy league season where amateur fans select their own configurations of players that compete on virtual fields. Fantasy footballers deploy their own optimal mix of...
U.S. energy firms cut the number of natural gas rigs by the most in a week since October 2017, while adding the most oil rigs in a week since June, energy services firm Baker Hughes Co said in its closely followed report on Friday. The total oil and gas rig count, an early indicator of …
Oil prices rose more than 2% on Friday, on track for weekly gains of over 8%, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s oil and oil products. Brent crude futures rose $2.11, or 2.5%, to $86.61 a barrel by 11:15 a.m. EST (1615 …
https://www.hellenicshippingnews.com/oil-prices-rise-more-than-2-on-russian-plan-to-cut-output/
Kazakhstan reduced oil and gas condensate output to 7.96 million tonnes (1.87 million barrels per day) in January from 8.03 million tonnes (1.89 million barrels per day) in December, the country’s Oil and Gas Information and Analysis said on Thursday. Oil output, not including condensate, fell to...
https://www.hellenicshippingnews.com/kazakh-oil-condensate-output-down-1-m-m-in-january/
Sanctions against Russia have split the global oil market, fostering the growth of a “grey” market and pushing up prices, TotalEnergies CEO Patrick Pouyanne said Feb. 8 after the stepping up of measures against Moscow by the EU and G7 countries following the invasion of Ukraine. Referring to...