Global Oil Market Now Balanced, Situation Constantly Changing
The global oil market is currently balanced, but the situation is constantly changing, Russian Deputy Prime Minister Alexander Novak said on Wednesday.
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The global oil market is currently balanced, but the situation is constantly changing, Russian Deputy Prime Minister Alexander Novak said on Wednesday.
The major theme of Russian Energy Week-2023 is titled the "New Reality of Global Energy: Creating the Future." President Vladimir Putin outlined his nation's view on the world's most urgent energy issues and ways to overcome emerging crises.
Oil prices are on course to record their sharpest weekly decline since March as traders refocus on demand concerns even as OPEC+ continues to tighten supply.
Ongc: The oil and gas output has risen to 8.3 million metric tonnes of oil equivalent (mmtoe) in the April-August period from 8.1 mmtoe in the same period last fiscal year.
Oil prices began to recover on Thursday morning after the EIA’s latest inventory report sparked a dramatic drop in both WTI and Brent.