President Joe Biden, who used his first State of the Union address to label Vladimir Putin a “dictator,” signaled Wednesday that he’s open to imposing restrictions on oil and gas imports to the U.S. Russia’s military advance continued, with its Defense Ministry saying it captured the Black Sea port city of Kherson as units moved …
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The OPEC+ group decided on Wednesday to rubberstamp another 400,000 barrels per day (bpd) increase in its collective oil production in April, despite soaring oil prices after a key member of the pact, Russia, invaded Ukraine. During a short ministerial meeting of OPEC+, the ministers decided to proceed with the monthly increase agreed upon last …
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Kremlin spokesperson Dmitry Peskov said on Wednesday that Russia is capable of withstanding sanctions, and is prepared for all possible scenarios regardless of the severity of measures. Speaking to reporters, Peskov added that it is unclear whether the Ukrainian side will show up for negotiations later during the day, and stressed that Moscow’s representatives are …
Continue reading “We can bear sanctions, talks could happen tonight – Kremlin”
The Biden Administration could couple releases from the Strategic Petroleum Reserve (SPR) with a longer-term policy to support the U.S. oil industry if it wants to reduce the soaring gasoline and oil prices and ensure America’s energy security, Mike Wirth, chief executive at supermajor Chevron, said on Tuesday. The U.S. Administration is discussing another SPR …
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Short of an official request, the White House is now encouraging U.S. drillers to produce more crude. The White House has received a lot of pushback in recent days for not tapping what many see as at least a partial solution to the headache that is high oil prices—U.S. shale.nnnnIn a move that likely angered …
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Russian invasion of Ukraine fuels near-40% rise in gas price and oil to over $11o per barrel as European stock markets tumble Prices of oil futures continued to increase on Wednesday and added 7% as the situation in Ukraine escalated, further inciting supply worries. Ukrainian president estimated that 6,000 Russian soldiers were killed since the …
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A Russian military convoy moving towards Kyiv is more than double the size of original estimates as troops attempt to lay siege to the capital, a satellite company has warned. Tanks and armoured vehicles were said to stretch for 17 miles early on Monday – but are now believed to be 40 miles long, according …
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Goldman Sachs: geopolitical premium over the war in Ukraine is even higher than current oil prices. Goldman Sachs strategists: The market may be underestimating the risks of tighter supply on oil pricing. Goldman Sachs: Market may have started to overestimate the potential of the war to significantly change Fed’s monetary tightening schedule. Oil prices rallied …
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A new iteration of the Joint Comprehensive Plan of Action (JCPOA) – is “tantalizingly close to being done”. The prize for a full new iteration of the JCPOA to be signed and put into effect will be at least an immediate 5-10 percent drop in oil prices in the short- to medium-term. Kpler analyst: Iran …
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BP will sell its close to 20-percent stake in Russian oil giant Rosneft. In addition to the Rosneft stake, BP will also leave three joint ventures in Russia. BP will sell its close to 20-percent stake in Russian oil giant Rosneft, the supermajor said yesterday amid growing pressure from politicians for companies with Russian operations …
Continue reading “BP to Sell Rosneft Stake….. at fire sale prices”