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+.
