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Oil prices steady weighing lingering demand concerns vs. high output
- Global oil supply in July increased to highest level since January 2020, according to IEA
OPEC revises down oil demand forecast for 2022
- Global oil supply in July increased by around 1.7 million barrels per day compared to previous month
Global oil supply hits post-pandemic high in July: Int. Energy Agency
- Surging oil use for power generation and gas-to-oil switching in Europe lifts oil demand growth trajectory for remainder of 2022 and into 2023
Oil volatile over weak US demand data, easing supply concerns
- US commercial crude oil inventories grow by 5.5 million barrels to 432 million barrels, against market expectation of rise of 73,000 barrels
US crude oil inventories up 1.3% for week ending Aug. 5
- Inventories increase by around 5.5 million to 432 million barrels against market expectation of 73,000-barrel rise
US energy agency revises up Brent oil price forecast for 2022
- International benchmark Brent crude now estimated to average $104.78 per barrel in 2022 and $95.13 per barrel in 2023
EU coal import ban comes into effect
- One-fourth of all Russian coal exports to be affected, with revenue loss of around €8 billion per year
Oil down over estimated US crude inventory rise
- Stockpiles rise to over 2.15 million barrels relative to market expectation of 73,000-barrel increase
Russia's natural gas pipeline exports to Europe decline to 40-year lows
- Country's exports decline by almost 50% compared with previous five years
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Oil down over hopes of revival of 2015 Iran nuke deal
- Worries over global economic recession ease over positive data from China, world's largest crude oil importer
Oil rises with positive economic data from China, US to quell recession fears
- US unemployment rate falls to pre pandemic levels of 3.5% in July
US oil rig count down by 7 for week ending Aug. 5
- Number of US oil rigs rise by 211 compared to one year ago
Oil prices see weekly drop with low demand expectations
- Brent hit six-month lows in intraday trade on Thursday to $93.20
Fear of energy crisis in Switzerland as EU-Russia tensions rise
- Wealthy European country could face rolling blackouts like those in developing nations, energy industry chief cautions
Oil prices recover after hitting six-month lows
- Economic data showing slowdown and recession expectations limits oil price rises
Oil prices show slight drop after rise in US crude inventory
- OPEC+ group agree to raise production by 100,000 barrels per day next month
US crude oil inventories up 1.1% for week ending July 29
- Inventories increased by around 4.5 million to 426.6 million barrels against market expectation of 467,000-barrel drop
Germany blames Russia for reduced gas supplies through Nord Stream 1
- Chancellor Scholz says there are no legal issues blocking transfer of gas turbine repaired in Canada to Russia
G-7 vows to act together against Russia’s ‘weaponization of energy’
- Foreign ministers of world’s most advanced economies pledge support for global energy stability
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Russian oil and gas revenues down in July
- Additional oil and natural gas revenues are 74.7 billion rubles lower than projections
Poland's climate min. calls for solidarity amid Europe's energy crisis
- Poland has ability to play key role in ensuring security in its region, Moskwa says
Oil volatile on rising US stocks, supply uncertainty
-Rising value of US dollar, which makes dollar-indexed crude oil more expensive for traders, is limiting price upticks
Oil extends losses from weak industrial data
- Investors await Wednesday’s meeting of major oil producers of OPEC+ group
Oil slips on negative economic data from China, Japan
- China’s PMI drops to lowest level since February 2020 as country implements strict “Zero Covid” policy
US oil rig count up by 6 for week ending July 29
- Number of US oil rigs rise by 220 compared to one year ago
Russia vows to remain firmly committed to OPEC+ decisions
- Government statement comes after meeting between Deputy PM Novak and Saudi Arabia's Energy Minister Abdulaziz bin Salman
Europe urges energy savings amid gas crisis from Russia-Ukraine war
- While Germany takes most striking measures, Croatia, Slovenia, Italy, Spain and France kickstart rules to restrict energy use
Oil steady as investors eye OPEC+ meeting next week
- Global economic recession fears continue weighing on prices and heighten worries over weakening demand
Türkiye's energy import bill up 122.5% in June
- Country's crude oil imports increase by 11% compared to June 2021NATURAL GAS MARKET (TL/1000Sm³)
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