Stay updated with breaking news from Dated Brent. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The value of Russia's key Urals crude export grade has hit $60/b for the first time since the US-led G7 coalition rolled out its price cap on Moscow's oil on December 5. This will pose a challenge...
The value of Russia's key Urals crude export grade has hit $60/b for the first time since the US-led G7 coalition rolled out its price cap on Moscow's oil on December 5. This will pose a challenge...
Reduced oil supply from Saudi Arabia and other OPEC+ producers has significantly increased sour crude oil prices globally.
Johan Sverdrup, the single largest crude stream in the North Sea, is a relatively dense and sulfur-rich type of oil —- properties that normally mean it trades below Dated. However, Saudi Arabia hiked the premiums it charges for its own barrels — which are similar to the Norwegian grade, triggering the price surge, the traders said.
The two producer countries said on Monday that they will prolong and deepen output cuts into August. Along with reductions they already made, and ongoing curbs by other nations in the OPEC+ alliance, total supply curtailments will amount on paper at least to 3.1 million barrels a day, or about 3% of global consumption.