The volume of Russian seaborne oil supplies fell to 3. 12 million barrels per day, the lowest figure since February 2025. This reduction is explained by a faster increase in refinery processing compared to production.
OPEC+ countries plan to approve a significant increase in oil production in September, completing the phased unwinding of voluntary cuts. The United Arab Emirates will also receive a larger production quota.
Oil prices fell after OPEC+ increased production by 548,000 barrels per day in August, exceeding expectations. Uncertainty regarding US tariffs also affected demand.
OPEC+ countries decided to accelerate the increase in oil production in August by 548 thousand barrels per day. Eight participating countries, including Saudi Arabia and Russia, confirmed their commitment to compensation and compliance with the Declaration of Cooperation.
Brent and WTI oil prices fell amid Iran's reaffirmation of commitment to nuclear non-proliferation and expectations of increased OPEC+ production. The US plans to resume nuclear talks with Iran next week.
Brent and WTI crude futures fell after rising, as investors fear a return to higher US tariffs and expect increased production from OPEC+. Uncertainty over US trade policy and slowing activity in China are also affecting the market.
Oil prices were unchanged as markets analyzed the expected increase in supplies from producers next month and a weak US dollar. US oil inventories rose by 680,000 barrels, despite summer seasonal demand.
Brent and WTI crude oil prices fell by 0. 5% on Tuesday, while OPEC+ plans to increase production by 411,000 barrels per day in August. Uncertainty regarding US tariffs and oversupply are also restraining the market.
Oil prices fell due to a decline in geopolitical risks in the Middle East and an expected increase in OPEC+ production. However, fears of a slowdown in global oil demand are exerting downward pressure.
Oil prices rose as a decline in US inventories signals strong demand. Investors are cautious about stability in the Middle East.
Oil prices fell sharply after Donald Trump announced a ceasefire agreement between Iran and Israel. This eased fears of supply disruptions in the Middle East, leading to a decline in Brent and WTI crude futures.
Oil prices surged after US strikes on Iranian nuclear facilities, fueling fears of fuel supply disruptions. Experts predict further price increases if the Strait of Hormuz, a vital shipping lane, is closed.
The price of Brent crude oil could potentially rise to $90 per barrel if the Strait of Hormuz is blocked, but a prolonged halt to shipping is unlikely, according to Citigroup Inc. analysts. This closure would affect daily global oil production and cause a sharp jump in prices.
Brent crude oil prices have cut their gains and fallen by almost $2 after the US postponed a decision on the conflict between Israel and Iran. Brent crude is heading for its third week of rising prices.
Brent crude oil rose by 0. 3% to $76.71 per barrel, WTI - by 0.5% to $75.19. The market is concerned about supply disruptions through the Strait of Hormuz.
Oil production is expected to rise to 104. 9 million barrels per day, exceeding demand of 103.8 million. Weak consumption in China and the US will curb global demand.
Prices for Brent and West Texas Intermediate crude oil have increased. Investors are concerned about possible supply disruptions through the Strait of Hormuz amid the conflict between Iran and Israel.
After the escalation of the conflict between Israel and Iran, oil prices are rising again. Fears of supply disruptions through the Strait of Hormuz are putting pressure on the market.
Brent crude rose to $78 a barrel, the biggest jump since 2022. Israel has struck Iran's nuclear program, raising fears of oil supply disruptions.
In 2025, the Persian Gulf will provide all of the increase in oil production in the US, 250,000 barrels per day. Offshore projects are becoming more profitable due to falling prices and reduced investment in shale oil.
Prices stabilized after falling more than 1% due to increased gasoline and diesel inventories in the US. Saudi Arabia also cut July prices for Asia.
Russia's oil revenues fell by 32% year-on-year to 430. 4 billion rubles due to falling oil prices. The strengthening of the ruble also contributed to the decrease in revenues from the oil industry.
Oil prices rose on concerns Iran may reject a U. S. proposal on a nuclear deal. A wildfire in Canada also led to the shutdown of oil production.
OPEC+ decided to increase oil production in July by 411,000 barrels per day. Brent and WTI oil prices rose after falling last week.
American Senator Lindsey Graham stated that he would call on European partners to lower the price ceiling on oil. According to him, Ukraine will not lose this war.
Russia earns billions from oil exports to the West, which allows it to finance the war. Russia's revenues from fossil fuels fell by only 5% in 2024, despite sanctions.
Oil prices are falling due to expectations of increased OPEC+ production in July. Uncertainty is also added by the decision on Trump's tariffs, which have been temporarily restored.
Oil quotes were supported by the US ban for Chevron to export oil from Venezuela and possible sanctions against Russia. Expectations of increased OPEC+ production are holding back price increases.
Oil prices rose after Trump extended trade talks with the EU. Also, limited progress in talks between the US and Iran reduced concerns about Iranian oil.
Brent and WTI crude fell more than 2%, weekly decline for the first time in three weeks. OPEC+ is considering increasing production by 411,000 barrels per day.
