India’s finance minister said on Friday that his country would continue to buy crude oil from Russia as its people needed cheap oil following the recent spike in international prices. India has already started buying oil from Russia, Nirmala Sitharaman said, adding that the transition to gas is now facing bigger challenges, as the quantities […]
Tag: oil
Bloomberg: Releases strategic stocks and the UK
The United Kingdom will follow the US and release more oil from its reserves, in a joint effort to reduce prices and dependence on Russia, according to sources in Bloomberg. An announcement is possible through the IEA, according to one of the sources, who, however, did not provide details on the size of the release […]
Far from publicity, Erdogan is ‘putting his hand’ on Afghanistan’s oil
Afghan Ministry of Mines and Petroleum (MoMP) officials said on Thursday that a Turkish company wanted to invest $ 250 million in Amo River oil fields or oil reserves in northern Afghanistan. Officials said, however, that no contract had been signed yet. They also said that other foreign companies are interested in investing. According to […]
OPEC ‘gets a divorce’ from the International Energy Agency
The Organization of the Petroleum Exporting Countries (OPEC) has said it will stop using International Energy Agency (IEA) data to assess compliance with OPEC member production quotas. According to the Anadolu agency, the decision was made after an extraordinary meeting held via video conference on Thursday. OPEC has agreed to replace the ILO with consulting […]
Slight drop in oil prices pending the IEA
Oil prices are falling slightly as they negotiate closely in the run-up to a meeting of major consumer countries to discuss the possibility of a new release of oil emergency reserves, along with a huge planned similar move by the US. US WTI crude futures are down 40 cents at $ 99.89 a barrel after […]
Small drop in oil prices pending the IEA – De-escalation in gas
LAST UPDATE: 14.29 Oil prices are falling slightly as they negotiate closely in the run-up to a meeting of major consumer countries to discuss the possibility of a new release of oil emergency reserves, along with a huge planned similar move by the US. US WTI crude futures fell 59 cents to $ 99.72 a […]
Japan: Tokyo to respond appropriately to release of strategic oil reserves
Japan will react appropriately to the release of strategic oil reserves, while closely monitoring global developments, as the Minister of Industry said today, before the conference of the member states of the International Energy Agency (IEA) scheduled for later today. US President Joe Biden announced yesterday the largest release of oil from US strategic reserves, […]
Russia is offering ‘discounted’ oil to India as it seeks alternatives
Moscow, India’s second-largest oil importer, is trying to lure India with significant cuts in direct oil sales to boost Russian crude markets as Western sanctions curb international appetite for Russian oil. Bloomberg, citing knowledgeable sources. Russia is reportedly offering India’s top-of-the-line crude Urals at discounts of up to $ 35 a barrel against pre-war prices […]
5% drop in oil prices
Oil prices are falling more than $ 5 a barrel as the United States considers releasing up to 180 million barrels of its strategic oil reserves (SPR) over months to calm rising oil prices. . Brent futures for May fall 4.8% to $ 107.98 a barrel. The May contract expires today and the most traded […]
More than 3% drop in oil prices
LAST UPDATE: 17.11 International oil prices are falling more than $ 3 a barrel as the United States considers releasing up to 180 million barrels of its strategic oil reserves (SPR) over a six-month period to calm calming prices. rising oil. The global benchmark, Brent crude oil delivery June falls 3.19% to $ 107.86 while […]
