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Articles with tag "Oil"
opec+ alliance
Russia to Cut Oil Output by 471,000 Bpd in 2Q24
Deputy Prime Minister Alexander Novak said Moscow will reduce its output by 350,000 bpd in April, 400,000 bpd in May and 471,000 bpd in June.
crude cut-off
Bulgaria Ends Russian Oil Imports
Bulgaria is historically close to Moscow and was almost entirely dependent on Russian oil and gas imports before Moscow's full-scale invasion.
1 Min read
rising demand
Russia to Ban Gasoline Exports for 6 Months
The Russian government previously imposed “temporary restrictions” on gasoline and diesel exports late last year to tackle surging prices.
1 Min read
house of lords
U.K. Lawmakers Warn Russia Skirting Oil Sanctions With 'Shadow' Tankers
Initially successful, the $60 per barrel price ceiling on Russian oil lost its impact once Moscow found new buyers and tankers to deliver its exports.
2 Min read
pivot east
Russia Says Redirected Most Oil Exports to China, India
Western sanctions including a European Union embargo on its seaborne oil deliveries have forced Russia to direct its exports to other markets.
2 Min read
shadow fleet
Russia's Monthly Income From Oil Exports Surpasses Pre-War Levels – Bloomberg
Despite the G7 price cap, Moscow's net oil revenues almost doubled between April and October, totaling $11.3 billion for that month.
2 Min read
weak enforcement
Almost No Russian Oil Sold Below G7 Price Cap – FT
An unnamed senior European official told FT that G7 countries and their allies would need to "toughen up" on sanctions against Russia.
2 Min read
let it flow
Poland Restores Druzhba Pipeline After Leak Discovery
Polish operators halted pumping through a section of the pipeline late Saturday after they discovered a leak at one of its sections.
1 Min read
surging trade
Russian Oil Exports to China Hit New All-Time Record
Russia exported 10.5 million tons of crude oil to China in June, breaking the previous record of 9.71 million tons set in May.
2 Min read
barrel trimming
Russia to Cut Oil Exports in August
Moscow's announcement of a voluntary oil export cut by 500,000 barrels per day builds on production cuts announced earlier this year.
1 Min read
'No limits' partnership
China’s Russian Oil Imports Highest Since Ukraine Invasion
Customs data shows that imports of Russian crude by China have almost doubled since Moscow invaded its neighbor last year.
2 Min read
less competition
Russian Oilfield Service Sees Record Revenue in 2022 – Vedomosti
According to data, Russian oilfield services earned 1.79 trillion rubles ($22.2 billion) in 2022, the highest figure since at least 2018.
1 Min read
revenue source
Russian Oil Exports Hit Post-Invasion High – IEA
Revenues in April were still 27% lower than the same month in 2022 despite the boosted volumes.
2 Min read
News Analysis
Attacks on Russian Oil Facilities Deal a Military, Psychological Blow to Moscow
Drone strikes create logistical problems for the Russian military and puncture a sense of security felt by Russians far from the frontlines.
4 Min read
economic damage
Russia’s Oil Export Revenues Fall One-Third Due to Western Price Cap – Study
European Union and G7 countries imposed a price cap on Russian oil products in response to the invasion of Ukraine.
1 Min read
market forces
Russian Oil Exports Hit Near 3-Year High in March Despite Revenue Drop
Russian oil exports jumped to their highest level in almost three years in March, according to the International Energy Agency.
1 Min read
Friends in need
Russia Begins Fuel Deliveries to Iran by Train – Reuters
In the face of international sanctions, Russia is now exporting fuel products to Iran by rail, Reuters reported on Tuesday.
2 Min read
falling short
Russia Forecasts $1.5Bln Shortage in Excess Oil and Gas Revenue
The Finance Ministry said it will sell 74.6 billion rubles ($940 million) worth of foreign currency to cover the expected shortage.
1 Min read
Peak Oil
Russian Oil Product Exports Reach Record High Despite Embargo
Moscow has developed alternative routes for its deliveries following a Western embargo.
2 Min read
Slashed output
Russia Says OPEC+ Oil Production Cuts 'In Interests' of Energy Markets
The bloc of countries called the decision a "precautionary" move aimed at stabilizing global markets.
2 Min read
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