Russia's Output Up 2% Ahead of EU Ban, Price Caps
Company sources said that Russian oil output could fall by 500,000 to 1 MMbbl/d in 2023 after the EU ban.
White House to Ask Oil and Gas Execs to Support Ukraine Energy Infrastructure
The question arises as Russia targets Ukrainian energy assets during harsh winter conditions.
Expert: OPEC’s Production Hold Reveals Shift from Active to Reactive
Oil cartel will take its time to evaluate impact of the EU’s ban on seaborne imports and the G7’s $60/bbl price cap for Russian crude.
Oil Falls Over 3% Amid Fears More Fed Interest Rate Hikes Coming
Russian oil caps, OPEC+ inertia and new data challenges hopes that the Fed might slow the pace and intensity of its rate hikes
Russia Vows to Sell Oil Only at Market Price in Defiance of G7 Price Caps
So far, Russia's ESPO oil blend was selling for around $79 a barrel in Asian markets on Dec. 5, almost a third higher than the new price caps.
EU Tentatively Agrees to $60 Price Cap on Russian Seaborne Oil
EU countries have wrangled for days over the details of the price cap, which aims to slash Russia’s income from selling oil, while preventing a spike in global oil prices after an EU embargo on Russian crude takes effect on Dec. 5.
US Urges Caution on Low-quoted Russian Oil Prices as EU Debates Price Cap
The EU is currently debating a $65/bbl-$70/bbl price cap on Russian oil.
Scholz Welcomes Qatar LNG Deal as 'Building Block' for German Energy Security
In Berlin's pursuit for new energy partnerships away from Russia, QatarEnergy and ConocoPhillips will export 2 million tonnes per annum of LNG to Germany for at least 15 years starting 2026 through two sales and purchase agreements.
China’s Xi Looks to Strengthen Energy Ties with Russia
In response to a G7 proposal to cap Russian oil prices, the Kremlin has promised to re-route supplies to countries that do not support the idea, with both China and India increasing oil purchases from Moscow.
Russia has Lost Europe as Its Largest Energy Client ‘Forever,’ IEA’s Birol Says
When asked about the impact of the EU measures, IEA’s Fatih Birol said: “We expect towards the end of the first quarter 2023 that there may be a loss of 2 million barrels per day of Russian oil and there is a need to replace that oil.”