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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.