Oil

Latest news from the commodity market. Updates on commodity trading, prices and futures news.

Oil

October 4, 2022

OPEC+ to consider oil cut of over than 1 million bpd – sources

OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what...

October 3, 2022

Oil could slow declines as supply risks return to fore

A recent oil price decline could slow in the last quarter of the year and into 2023 as focus shifts from concerns over a recessionary...

September 30, 2022

OPEC+ has begun talks on output cut at Oct. 5 meeting – OPEC source

Leading OPEC+ members have begun discussions about an oil output cut at the group’s next meeting on Oct. 5, three sources told Reuters. (more…)

September 29, 2022

EU Considers Russian Oil Shipping Ban as Part of Price Cap

The European Union is considering adding shipping restrictions to its oil sanctions as the bloc continues to discuss the introduction of a price cap on...

September 27, 2022

EU sanctions, price cap on Russian oil to raise shipping hurdles

Oil markets are bracing for the biggest shift in global trade flows ever as nearly 3 million barrels per day of Russian crude oil and...

September 23, 2022

Germany broadens crude import horizons as Russian flows dry up

Germany, Europe’s biggest oil consumer, has more than doubled its sources of imported crude in recent months, according to shipping data, as its refiners increasingly...

September 16, 2022

Asia’s crude oil imports remain weak as retail fuel prices stay high

Asia’s crude oil imports are on track for another soft month in September, as the world’s top-importing region battles uncertain demand amid high retail fuel...

September 13, 2022

Shipowners Rush for Ice-Class Tankers to Move Russian Oil This Winter

Oil tanker owners are snapping up vessels that can haul cargoes in icy seas, a development that could help Moscow overcome the threat of a...

September 12, 2022

OPEC+ crude oil output rises but quota shortfall hits record high: Platts survey

Libya’s recovery, along with growth by core Gulf members, drove OPEC+ crude production in August to its highest since April 2020’s price war, according to...

September 7, 2022

Russia will respond to oil price caps by shipping more to Asia – energy minister

Russia will respond to price caps on Russian oil by shipping more supply to Asia, its energy minister Nikolai Shulginov told reporters at the Eastern...

September 6, 2022

OPEC+ agrees small oil production cut

OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an...

September 5, 2022

Iraq exports over 100 mln barrels of crude oil in August

Iraq exported 101.85 million barrels of crude oil in August with revenues of 9.78 billion U.S. dollars, said the Iraqi Oil Ministry on Thursday. (more…)

August 31, 2022

EU sets sights on energy market reform as prices soar

The European Union is drafting emergency plans to intervene in its energy market as pressure grows from member states to put a lid on surging...

August 30, 2022

Russian oil loadings from western ports to rise 4% in Sept m/m – sources

Oil loadings from Russia’s western ports of Primorsk, Ust-Luga and Novorossiisk are set to rise to 8.8 million tonnes in September from 8.74 million tonnes...