Oil bodies downgrade demand expectations as lockdowns and inflation bite May 13, 2022 Leading oil bodies have downgraded expectations for crude demand this year, amid continued volatility in the market.
Italy floats creation of new cartel to meet European interests May 12, 2022 Italian Prime Minister Mario Draghi has proposed the creation of a new cartel of oil consumers to make markets more favourable to Western buyers.
‘Let the West pay more’: Russia dares EU to bring in oil ban May 11, 2022 The Kremlin has warned it has enough buyers for its energy resources outside of Western countries, as the EU weighs up a Russian oil ban.
Oil prices recover as EU pushes for Russian oil ban May 11, 2022 Oil prices rebounded as the European Union (EU) closes in on a Russian oil embargo, raising concerns of supply shortages across the continent.
OPEC+ maintains modest hike in oil production as EU weighs up Russian import ban May 5, 2022 OPEC+ has agreed a modest increase in its oil production targets next month, following a meeting earlier today.
European Union finally unveils Russian oil import ban May 4, 2022 The EU has proposed to phase out Russian oil imports, as part of a sixth package of sanctions against Russia following its invasion of Ukraine.
OPEC+ forecasts oil surplus as high prices and lockdowns bite into demand expectations May 4, 2022 OPEC+ anticipates oil supply to exceed demand later this year by nearly two million barrels per day amid reduced growth expectations.
Oil prices tumble as China lockdowns cut into demand expectations May 2, 2022 Oil prices have plummeted amid forecasts of weak economic growth in China, which has lowered demand expectations.
Oil prices recover as Germany lifts opposition to Russian import ban April 29, 2022 Oil prices have risen for a fourth consecutive day with concerns over Russian supply disruptions trumping reduced demand in China.
Allianz vows to stop insuring Arctic oil and gas projects April 29, 2022 Insurance giant Allianz has said it will stop insuring Arctic oil and gas fields by the middle of next year. The German multinational, which is one of the biggest oil and gas sector insurers in the world, vowed to stop insuring new oil and gas fields, oil powerplants, and oil pipelines in the Arctic by [...]
