Bharat Petroleum Corp is looking for alternative oil supplies from the Middle East due to the reduction in Russian imports. India's purchases of Russian oil have fallen to their lowest level since December last year due to tighter sanctions.
Brent crude rose to $73. 58 and WTI to $70.10 per barrel due to expectations of a reduction in supplies. Analysts predict stable prices and rising demand in the coming months amid Chinese stimulus.
Russia's maritime oil exports fell to 3. 06 million barrels per day due to terminal repairs and sanctions pressure. Two-thirds of Russia's “shadow fleet” tankers are idle at ports due to tighter Western sanctions.
Brent and WTI oil prices rose 0. 5% due to political tensions following the overthrow of the Assad regime in Syria. Saudi Aramco is cutting prices for Asia due to weak demand, while OPEC+ is delaying production increases until April 2025.
Russia's maritime oil exports fell by 150,000 barrels per day by November 24. The largest decline occurred in Russia's western ports, where shipments fell by 25% compared to last month.
Oil prices have stabilized after a 6% rise last week due to tensions between the West, Russia and Iran. Brent is trading at $74.91, WTI at $70.89 per barrel.
Mohammed bin Salman will not attend the G20 summit in Rio de Janeiro due to a chronic ear canal disease. The decision could also be influenced by Putin's absence and the end of Biden's presidency.
Brent and WTI crude oil fell by 0. 9% due to weak demand in China and a 4.6% decline in refining. The IEA predicts an excess of supply over demand by 2025, despite the OPEC+ cuts.
Russian oil exports rose to 23. 96 million barrels in the week to November 10. Increased shipments through the Arctic port of Murmansk offset a drop in exports through Kozmino.
OPEC+ postponed the increase in oil production for a month, which led to a rise in Brent and WTI prices by more than $1. The market is awaiting the US elections and the Fed's interest rate meeting.
Brent and WTI crude oil rose by more than $1 due to reports that Iran is preparing to strike Israel from Iraq. Prices were also affected by expectations that OPEC+ would postpone production cuts.
russian offshore oil exports rose by 120,000 barrels per day for the second week in a row. Total exports reached 24.79 million barrels, with a four-week average of 3.41 million barrels per day.
Futures for Brent and WTI rose slightly after falling by 4%. Experts point to uncertain price prospects due to geopolitical tensions and weak demand forecasts.
The island nation of Sri Lanka has announced its application to join the BRICS. The application will be officially submitted during the BRICS summit in Kazan on October 23-24.
Brent and WTI futures fell by 0. 7-0.8% due to a better supply outlook and weak demand growth. The escalation of the conflict in the Middle East and the possible resumption of production in Libya also affected the market.
Russian crude oil exports from key western ports fell to a 19-month low in July, which led to an overall decline in marine oil flows worldwide.
Slovenia has become the sixth European country to import gas from Azerbaijan. On August 1, Azerbaijani gas from the Shah Deniz field began to flow to Slovenia under a memorandum between SOCAR and Geoplin.
russian oil companies have reduced drilling rates by 2. 5% compared to last year due to OPEC+ production cuts. russia is implementing two sets of cuts, but still produces more oil than agreed.
Brent and WTI crude oil futures rose by $2 after the assassination of the Hamas leader in Iran. The rise in prices came despite concerns about weak demand in China and expectations about OPEC+ decisions.
Putin had a telephone conversation with the Prince of Saudi Arabia. The parties discussed cooperation in the political, trade, economic and energy spheres, emphasizing the importance of coordination within the framework of OPEC+.
