Page 4 - Platts Dated Brent News Today

Crude oil production by OPEC and its allies fell in March from February for the first time in more than a year, the latest S&P Global Commodity Insights survey found, contributing to a tightening market thrown in flux by the Russia-Ukraine war. Western sanctions began biting into primary non-OPEC partner Russia’s oil flows, and sizable ...

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 ...

Russia is an important member of OPEC+ and its 10 million b/d production cannot be easily replaced, the UAE’s energy minister said March 28, emphasizing the need to keep politics out of the coalition’s production plans. “We always believe whatever we do as countries when it comes to production … it always needs to stay ...

WITH the Russia-Ukraine crisis showing no signs of receding, oil like every other commodity has been in turmoil.

Energy transition is energy security.

OPEC has told the EU that global energy markets would be destabilized if European countries follow through with a threat to ban imports of Russian oil, sources in the producer group said, with traders warning of massive price spikes beyond the surge already seen. OPEC, which formed an alliance with Russia in late 2016 to ...

Saudi Arabia and the UAE on March 16 offered no public commitments to pump more oil after UK Prime Minister Boris Johnson’s meetings with their crown princes, where he lobbied the OPEC members to offset the impact of Western sanctions on Russia. The official Saudi Press Agency made no mention of oil supplies in its ...

Australia’s heavy sweet Vincent crude cash differentials plunged due to a reduction in its flash point following the resumption of the Cimatti oilfield in the Greater Enfield project, making the crude unsuitable for low sulfur fuel oil blending, market sources told S&P Global Commodity Insights March 17. The fuel oil rich Vincent crude, which typically ...

UK Prime Minister Boris Johnson will meet with the crown princes of Saudi Arabia and the UAE March 16, his office said, seeking more oil supplies from the OPEC members as western powers continue to scramble for alternatives to Russian energy. Sanctions imposed on Russia’s financial sector have effectively cordoned off a significant chunk of ...

Asia’s run rates and oil demand will come under pressure in coming months on the back of high oil prices and tight feedstock availability, and the swelling availability of spot Russian cargoes shunned by buyers elsewhere may do little to ease Asia’s pain, speakers at the S&P Global Commodity Insights Asian Refining and Petrochemicals Summit ...