Readers of “Guancha” rejoiced at the decision of OPEC + to reduce oil production

Federal news agency The decision of OPEC + members to cut oil production by 2 million barrels per day in November caused joy among users of the Chinese portal Guancha, the materials of which are published by InoSMI. Commentators were delighted with the position of the cartel members, who agreed to reduce production volumes, despite … Read more

Russia will respond to the EU oil price cap after studying the official document

According to him, Moscow first needs to see the decision of the countries of the European community in order to legally assess it and propose an action plan. Thus, Novak commented on the question of journalists about the intention of the Russian Federation to respond to the next package of sanctions measures imposed by the … Read more

EU authorities will ban servicing ships with Russian oil above the price limit

The EU intends to introduce a ban on servicing ships of third countries that will transport Russian oil with a price above the maximum limits, according to the Official Journal of the European Union. .

EU temporarily lifted oil supplies from Sakhalin-2 to Japan from sanctions

Sea transportation to Japan of certain Russian crude oil from the Sakhalin-2 project is excluded from the new package of European Union (EU) anti-Russian sanctions until June 5, 2023, according to a document in the official journal of the EU, published on October 6. “Transportation by sea to Japan, technical assistance, brokerage, financing or financial … Read more

State Corporation Saudi Aramco has adjusted oil prices for Europe and the United States

In November, Arab Light is sold in the US market for a $6.35 premium over the regional brand. Northwestern Europe and the Mediterranean are buying Light and Extra Light at $1.8 off, Medium and Heavy at $1.5 off. The premium to ICE Brent for these regions amounted to $0.9, for Asia this figure corresponds to … Read more

Bloomberg reported a possible reduction in Russian oil production with a ceiling on commodity prices

Russia may cut oil production by 3 million barrels per day if the European Union and the United States impose a ceiling on commodity prices. On Thursday, October 6, Bloomberg reports with reference to market experts. According to Kevin Book, managing director of research firm ClearView Energy Partners, such production cuts could put immediate pressure … Read more

Media: OPEC + is preparing for the largest reduction in oil production since 2020

Source: globallookpress/Lino Mirgeler Vienna, 5 October. OPEC+ countries are preparing to cut oil production by more than 1 million barrels per day. This is reported by Reuters. Member countries are scheduled to meet in Vienna on October 5 for the first time since March 2020, amid a record drop in oil prices, sources said. Where … Read more

Nigerian government reopens country’s largest oil pipeline BY-SA 3.0 Abuja, October 5th. The Nigerian government has relaunched the Trans Niger oil pipeline after a six-month hiatus. The pipeline pumps about 180,000 barrels of crude per day. The authorities of the republic expect that the launch of the oil pipeline will contribute to the restoration of the national economy. The Nigerian government … Read more