Most Treasurys were under pressure early Friday, pushing up the yield on the 10-year note for a sixth straight day, as investors assess the Federal Reserve’s likely policy path. Investors this week were digesting the Federal Reserve’s plans to begin unwinding its balance sheet, with minutes of the March policy meeting on Wednesday offering details. …
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OPEC does not have the additional spare capacity to lift crude oil production much more than it is doing today, Nigeria’s Petroleum Minister Timipre Sylva told Anadolu Agency on Friday. “It is not something that you can open a tap for at this point. You must have the additional capacity, the idle capacity to bring …
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Iraq produced just 4.15 million bpd in March. Iraq’s crude oil production was down by 112,000 bpd last month. Most OPEC members continue to underperform in reaching their agreed-upon targets. OPEC’s second-largest producer, Iraq, produced just 4.15 million barrels per day (bpd) of crude oil in March, well below its quota under the OPEC+ agreement, …
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Russian oil production fell in the first week of April by 4.5 percent compared to the March average—the steepest decline in output since May 2020, according to Russia’s energy ministry data seen by Bloomberg. Between April 1 and 6, Russia pumped the equivalent of 10.52 million barrels per day (bpd) of oil, per Bloomberg calculations …
As Europe prepares to join the U.S. in hitting the Kremlin with tighter sanctions for its war on Ukraine, there are plenty of signs that Russia is finding ways to prop up its economy. Cargoes of Russian Sokol crude from the Far East have sold out for next month, and several Chinese firms used …
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Over a month into Russia’s war in Ukraine and after multiple countries imposed sanctions on Russian fossil fuels, Ukraine’s pipelines are still carrying Russian gas into Europe. Ukrainian climate activist Svitlana Romanko says Ukraine cannot shut off the gas flow if EU governments refuse to implement an embargo on Russian imports. “There should be a …
April 7 (Reuters) – The Russian rouble firmed sharply in Moscow trade on Thursday to levels last seen before Russia sent tens of thousands of soliders to Ukraine, while stocks indexes jumped higher, shrugging off a new round of sweeping western sanctions. At 0724 GMT, the rouble was 5.8% higher at 75.30 against the dollar …
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Currency recovers to pre-war levels even as sanctions pile up Foreign oil and gas buyers offer Putin’s government a lifeline In the days after the Ukraine war began, the ruble’s collapse was a potent symbol of Russia’s newfound financial isolation. International sanctions on Vladimir Putin’s regime sank it to a record low of 121.5 rubles …
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WASHINGTONG (Reuters) – Member countries of the International Energy Agency besides the United States have agreed to release 60 million barrels of oil from storage, an official from the U.S. government and an IEA member country official told Reuters. The amount will be matched by the United States as part of Washington’s pledge last week …
Bloomberg) — Covid-19 infections in England reached their highest level in March since the pandemic began, driven by the omicron subvariant BA.2 and waning immunity among older adults, according to a new study. The overall Covid prevalence rate more than doubled last month from February when infection rates were falling from the omicron-led January peak, …
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