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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 ...