Oil Prices Surge Quarter Over Quarter Off Supply Cuts
In the July to September period this year, oil prices saw a massive surge of almost 30% over the previous quarter as supply cuts by OPEC+ nations diminished stockpiles, and…
Russian Crude Flows Freely Despite Sanctions
On Sunday, the Financial Times, citing data from analytics company Kpler, reported that Russian crude oil supplies increased 50% this spring, in spite of Western sanctions imposed on Moscow over…
Russia Resumes Gas Flows To China Through The Power Of Siberia, Following Maintenance
On Thursday, Russian energy giant Gazprom announced it was restarting deliveries of natural gas to China after concluding regular maintenance procedures on the Power of Siberia pipeline. In a statement…
UK Approves Massive New Oil And Gas Project
Ignoring calls from environmentalists, the British government has just officially approved one of the biggest oil and gas projects the UK has seen in years. In a press release on…
Oklahoma Stockpiles Fall, Crude Inches Higher
Concerns of a tightening of global oil supplies grew on Thursday as new data showed a fall in stocks at a key Oklahoma storage facility in the US, pushing global…
Increased Middle East Refinery Capacity Is Tightening The Crude Market
As Middle Eastern states like Oman and Bahrain expand refining capacity and begin consuming more regional crude oil to produce fuels like diesel for export, global oil supplies are set…
Russia To Begin Reducing Crude Discounts
On Monday, RBK business daily reported that the Russian government is preparing to begin reducing the discount it is offering on its flagship Urals blend of crude oil over the…
Official Predicts Europe Remains Dependent On US LNG For Years
In an interview with the Financial Times on Monday, Ditte Juul Jorgensen, director general for energy in the European Commission, said that the EU will be purchasing liquified natural gas…
Oil Holds Steady As The Strong Dollar Counteracts Growing Tightness
Oil’s rise to $100 per barrel was paused on Monday, as the effects of a strengthening dollar, which made crude more expensive for many buyers even as the price in…
Gazprom Subsidiary Almost Entirely De-Dollarized
A division of Russian energy giant Gazprom, the Russian oil producer Gazprom Neft, has nearly eliminated all usage of the US dollar and euro in its trade of crude oil…
