Page 28 - Pec News Today

Exports of Russian oil and oil products to India increased to 32 million tonnes in 2022, Russian Deputy Prime Minister Alexander Novak said in an interview to the Russian media.

Oil prices rose on market expectations of higher demand for gasoline against tighter supplies in light of production cuts by oil producers

Oil prices jumped on Monday morning following a threat from Saudi Arabia’s oil minister less than two weeks before the next OPEC+ meeting.

Nigeria is set to launch the Dangote refinery today, a refinery that it is hoped will alleviate the chronic fuel shortage that the country has been suffering through.

Oil prices slipped on Monday to $74.85 and $70.96 per barrel of Brent and West Texas Intermediate (WTI) crudes, respectively

Oil prices rise on strong demand forecasts and declining supplies. Dollar strength and U.S. debt ceiling talks limit gains.

Russia’s President Vladimir Putin has contradicted the position by OPEC+ that its 1.2 million barrels per day production cut announced in April was intended to balance the markets, with the Russian leader saying it was necessary to maintain relatively high oil prices

Javad Owji says his country shares the same views as Russia inside OPEC+

The IEA has raised its global oil demand forecast as it expects Chinese demand to hit a record high.

Oil prices rise as supplies tighten in Canada and elsewhere. Recession fears persist but wildfires and potential repurchasing for Strategic Petroleum Reserve offer support.