"Oil from Russia will be foreclosed from the global market here at some point and we are already seeing commercial activity reduced, particularly as it relates to Russia exports via maritime assets and that is already hitting the market," Kilduff told CNBC's "Closing Bell" on Tuesday. "...
India was the main destination of Russian crude oil export shipments in January 2024. The country that received the second-largest volume of oil was China.
In 2016, Russian oil and gas industry development kept steady. Its crude oil production reached 548 million tons, a year-to-year increase of 2.7%; the processing volume of crude oil was 281 million tons, a year-to-year decrease of 0.7%; crude oil exports amounted to 255 million tons, ...
The West late last December set a $60 price cap on seaborne exports of Russian oil, part of sanctions seeking to punish Moscow for its war on Ukraine. The mechanism bans Western companies from providing the maritime services, including financing, insurance, and shipping for oil...
MOSCOW (AP) — Major oil producers need to show greater discipline in sticking to output cuts aimed at raising the price of crude, Russia's energy minister said Monday. OPEC and several non-OPEC states like Russia decided last year to rein in output, but prices have fallen below $50 ...
BEIJING, March 20 (TMTPOST) – China’s crude oil imports from Russia in January and February 2023 jumped by nearly 24% year-on-year to 15.68 million tons at an average price of approximately $539.64 per ton, down 11.71% from that of the previous year. ...
Saudi Arabia, OPEC's de facto leader, and Russia have to perform a balancing act of pushing up oil prices to meet their budget needs while not driving them much above 50 U.S. dollars a barrel to avoid encouraging a resurgence of rival U.S. shale production. ...
"Sanctions cost. Sanctions hurt the one who is being sanctioned and have collateral effects on the one who sanctions. But one thing is clear for everybody in the Council: we have to get rid of the energy dependency of the EU with respect to oil, gas and coal coming from Russia," he ...
On Thursday, Reuters published a report, quoting sources and documents it obtained, in which it said that "Venezuelan state oil company PDVSA has started passing invoices from its oil sales to Rosneft." "The Russian energy giant pays PDVSA immediately at a discount to the sale price -- avoidi...
As the second-largest oil producer and natural gas exporter, Russia’s war with Ukraine has severely impacted the energy market. To what extent has the war influenced crude oil prices, and has it altered the long-term dynamics of oil prices? An objective analysis of the effects of the Russi...