About: oil prices
EU reputation at stake as Hungary continues to block Russia sanctions
The EU has not found consensus on the new sanction package against Russia and an agreement could be still 'a week or two' away, EU's chief diplomat Josep Borrell said on 17 May, as Hungary said it would not lift its veto.
How Russia’s war in Ukraine rocked the global economy
Talks between Ukraine and Russia are confrontational but moving forward, President Volodymyr Zelenskyy said on Wednesday (23 March), as the West plans to announce more sanctions against the Kremlin amid a worsening humanitarian crisis.
Ukraine war on the brink of sparking world energy conflict
Fears of an energy war between Russia and the West grew on Tuesday after the United States pushed its allies to ban Russian oil imports as punishment for Moscow's invasion of Ukraine, where talks on humanitarian corridors made little progress.
Petrol prices soar as Ukraine conflict panics energy markets
Gas and oil prices have hit new highs this week, with crude oil prices surpassing $110 per barrel for the first time since 2014, as the war in Ukraine caused panic on energy markets.
US government working to aid top fuel pipeline operator after cyberattack
The White House was working closely with top US fuel pipeline operator Colonial Pipeline on Sunday (9 May) to help it recover from a ransomware attack that forced the company to shut a critical fuel network supplying populous eastern states.
Kazakhstan’s ‘unique’ leadership transition marks its first anniversary
On 12 June, Kazakhstan will mark the first anniversary of Kassym-Jomart Tokayev's election as president. EURACTIV looks into the unique transition of power between Nursultan Nazarbayev, who re-established statehood after the Soviet domination, and Tokayev, who spearheads 'controlled democratisation'.
Oil crisis hits Russia and… EU unity?
The Russian oil sector seems to be in dire need of seeing the end of Western sanctions, even more than it has been so far, and there is no doubt that they will try to use the current circumstances to change EU countries' stance on the policy towards Moscow, writes Mateusz Kubiak.
OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic
OPEC and allies led by Russia agreed on Sunday (12 April) to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%.
Saudi Arabia floods globe to squeeze Russia’s share of oil market
Saudi Arabia has stepped up efforts to squeeze Russia’s Urals oil grade out of its main markets by offering its own cheap barrels instead after their long-standing deal to support global oil prices fell apart, seven oil sources said.
US shale under pressure to make ‘at least’ 25% price cuts
US shale producers are seeking sharp service costs cuts to deal with plummeting prices and shrinking demand, according to executives and a letter sent to top providers, driving home the oil industry’s desperate efforts to cope with a market dive.
Russia to OPEC – deeper oil cuts won’t work
This week’s oil price rout had become inevitable and cutting output has ceased to make sense because it is unclear how deep the impact of the coronavirus on demand will be, Russia’s deputy energy minister said in an interview with Reuters on Wednesday (11 March).
Russian ministry, oil firms to meet after OPEC talks collapse and prices plunge
Russia’s Energy Ministry will meet with the country’s oil companies on Wednesday (11 March) to discuss future cooperation with the Organization of the Petroleum Exporting Countries, among other issues, two sources familiar with the plan told Reuters.
As stock markets collapse, IMF calls for support for the coronavirus-infected economy
The International Monetary Fund called on governments worldwide Monday (9 March) to join forces and roll out aggressive financial supports for the coronavirus-infected global economy, including direct payments to workers and businesses.
Europe’s Southern Gas Corridor ‘almost ready’, says Azebaijan’s SOCAR
A 25-year supply contract has been signed with Italy, and the first Azeri gas is expected to start flowing before the end of 2020, said Vitaly Baylarbayov, deputy vice president of SOCAR, the State Oil Company of Azerbaijan.
US kills top Iranian commander Soleimani in air strike
The United States killed Iranian Major-General Qassem Soleimani, head of the elite Quds Force and architect of Iran’s spreading military influence in the Middle East, in an air strike on Friday (3 December) at Baghdad airport, the Pentagon and Iran...
Ahead of heating season, EU gas tanks are full
With gas prices at a ten-year low, storage tanks are far fuller than average for this time of year. This may have political implications as lawmakers think about security of supply.
The US isn’t protecting oil supplies from the Middle East, it wants to control prices as foreign policy
America’s extensive use of military and economic coercion in the Middle East and other oil-producing countries around the world reflects the US’s new position as an exporter of oil and liquefied natural gas, argues Robin Mills. Robin Mills is the...
Poland, Russia, Belarus and Ukraine to talk on polluted Russian oil
Representatives of Poland, Russia, Belarus and Ukraine will meet on Friday (26 April) in Minsk, the capital of Belarus, to discuss how to solve the problem of polluted Russian oil, Poland’s pipeline operator PERN said on Thursday night.
Russia cashes in as European oil refiners pay for US sanctions
European refiners are paying the price for US oil sanctions on Venezuela and Iran as they scramble to replace the sour crude Washington has blocked from the global market with increasingly expensive Russian oil, trading sources said and data showed.
Trade war starts to dent European growth
The European Commission cut expected EU growth for this year by 0.2% compared to its forecast less than three months ago, as output was weaker than expected during the first semester and external risks, especially the trade war, are on the rise.
Trump becomes number one threat to European economy
US President Donald Trump’s decision to leave the Iran deal represents his third strike against the European economy in half a year and will add more volatility in an already difficult period.
Trump slaps Europe in the face with Iran deal pull-out
In the aftermath of Donald Trump’s announcement to withdraw from the landmark deal curbing Iran's nuclear programme, the leaders of Britain, France and Germany who signed the agreement published a joint statement, saying they will continue to stick by it.
Russia’s economy: Still dependent on oil
After two years of recession caused by lower oil prices and western sanctions, Russia’s recovery benefits Vladimir Putin who is seeking a new term of office. However this improvement won’t last long without a structural reform. EURACTIV.fr reports.