Page 3 - Gulf Intelligence News Today

The agreement would resume oil-for-debt swaps that have been halted for two years after the US imposed sanctions on Venezuela.

The OPEC+ agreement for higher quotas in July and August and continued release of oil from the US government’s Strategic Petroleum Reserve may compensate for the loss of Russian crude, the head of Vitol Asia said, as the European Union undertakes a phased ban on seaborne oil imports from Moscow. “Crude output of Russia is ...

The Biden administration is scrambling to bring down sky-high gas prices by encouraging countries to pump more oil.

Western economic and financial sanctions on Russia have reduced its crude supply by an estimated 1 million b/d, a “relative drop in the ocean compared to the intended impact,” the head of Vitol Asia said on May 8. “If only one million b/d has gone missing so far, before the EU shuts the door on ...

It seems that the long term decline of Russia’s oil industry is now inevitable, with a lack of infrastructure to send spare volumes to the east

The global oil markets are pricing in either a demand loss or more output from countries such as the US amid the global release of oil stocks and recessionary threats in some economies, the head of Vitol Asia said. “For the market to trade down as it has done, that’s telling you that the market ...

Sky-high energy prices sparked by Russia’s invasion of Ukraine and the sanctions that followed could begin to chip away at global demand

 West Texas Intermediate for April delivery gained 8.1 percent to $125.08 on the New...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

At the start of the Chinese Lunar New Year, China could begin filling its crude stocks, even at $90 a barrel oil, because some restocking could be needed