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Oil down as EU fails to agree on banning Russian oil exports
- Weak Chinese economic data also exerts downward pressure on prices
Saudi Arabia plans to boost output by 1 million barrels per day: Energy minister
- Abdulaziz bin Salman says his country could maintain production at over 13 million barrels per day should global oil market require it
Oil down over lagging EU ban on Russian oil exports
- Demand concerns in China, as country tightens its zero-COVID policy are putting downward pressure on prices
Saudi oil giant Aramco reports over 80% profit rise in 1Q22
- Aramco's first quarter 2022 profits hit $39.5 billion compared to $21.7 billion in same period of last year
US oil rig count up by 6 for week ending May 13
- Number of US oil rigs rises by 211 compared to one year ago
Oil prices battle supply concerns, recession fears in week ending May 13
- Oil starts week low as China fights COVID-19 leading to lower demand but ends higher as EU focuses on finalizing proposed ban on Russian crude
Supply fears from pending EU crude ban push oil prices higher
- Drop in global oil supply fuels concerns of scarce production, driving prices higher
EU ban on Russia could affect 3M barrels crude per day: Fitch
- Russia’s total production projected to decline by 2-3M barrels per day by end-2022, says global rating agency
OPEC revises down oil demand forecast for 2022
- Downward demand growth revisions take account of economic forecasts and other developments that could impact oil requirements, OPEC says
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Global oil supply down in April with Russian supplies shut-in
- Demand to reach around 99.4 million barrels per day in 2022, marking year-on-year rise of 1.8 million barrels per day
US crude oil inventories up 2% for week ending May 6
- Commercial crude oil stocks increase by 8.5 million barrels, against market expectation of 457,000-barrel draw
Oil prices fall as global inflation rates solicit concern
- Ongoing Covid-19 lockdowns in China, world's top crude importer, continue to weigh on oil prices as demand for fuel drops
Oil up over supply uncertainties due to EU ban on Russian oil
- Limiting further upticks, US crude oil inventories are estimated to rise, signaling weak demand in world’s top consuming country
Japan announces phased-out exit from Russian oil
- Japan is fully dependent on imports for all energy sources, importing around 3% of its oil needs from Russia
Oil prices fall with demand fears in China, strong dollar
- Stalled sanctions from objections of EU members who seek exemptions to ban on Russian oil exports limits upward price movement
Oil settles lower on blurry supply outlook ahead of plan to ban Russian oil
-China's pandemic restrictions, Saudi Arabia's decision to sell oil prices lower for Asian and European clients contribute to demand woes
Turkiye's oil imports up 31.1% in February 2022
- Crude oil imports jump 46.9% to 2.34 million tons, latest data shows
US oil rig count up by 5 for week ending May 6
- Number of US oil rigs rises by 213 compared to one year ago
Oil gains around 6% during week ending May 6 on supply fears
- European Commission proposal to ban Russian oil, reluctance of OPEC+ producers to add stock to market supports prices
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Russian oil import cuts to EU will be difficult in short-term: experts
- Crude oil volumes at risk from a complete EU embargo are estimated to be around 3.0 million bpd
OPEC+ to maintain same production plan for June
- Next meeting of OPEC and non-OPEC members scheduled for June 2
Oil prices up over proposed ban on Russian gas supplies
- Investors are monitoring OPEC+ group meeting scheduled later Thursday
US crude oil inventories up 0.3% for week ending April 29
- Commercial crude oil stocks increase by 1.3 million barrels, against market expectation of 1.16 million-barrel drop
Oil prices push $110 after EU proposes Russian oil ban
- Ban on crude oil to enter into force six months after adoption, and prohibit refined oil products by end of the year
Oil prices rise on larger than expected drop in US oil stocks
- European Commission expected to announce details of EU's sanction plans against Russia later today
EU Commission chief proposes oil embargo on Russia
- 6th round of sanctions would hit oil imports, banks, military officials responsible for Bucha massacre
TotalEnergies starts production on Mero-1 oil field
- Company plans three additional development phases scheduled between 2023 and 2025
Germany signals green light for Russian oil embargo
- German economic minister calls on all EU countries to reduce their dependence on Russian energy as quickly as possible