About: oil prices

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.
Energy 13-04-2020

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%.
Global Europe 13-03-2020

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.
Global Europe 13-03-2020

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.
Energy 12-03-2020

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).
Global Europe 11-03-2020

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.
Economic governance 10-03-2020

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.
Azerbaijan 13-02-2020

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.
Global Europe 03-01-2020

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...
Energy 28-08-2019

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.
Energy 23-05-2019

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...
Energy 26-04-2019

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.
Global Europe 12-04-2019

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.
Economy & Jobs 12-07-2018

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.
Economy & Jobs 09-05-2018

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.
Global Europe 09-05-2018

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.
Energy 30-11-2017

Think tanker: E-mobility push won’t affect EU oil demand significantly until 2040s

The IEA’s latest World Energy Outlook suggests the EU is set to wean itself off oil even as global consumption continues to rise. EURACTIV.com asked Georg Zachmann, a senior fellow at the Brussels-based think tank Bruegel, how he sees oil demand in the EU changing in the coming years.
Energy 30-11-2017

Fair fuel pricing: A test for Europe’s climate ambitions

Is the EU committed enough to increase taxes on fossil fuels? That is a question that needs to be raised now considering the long-running debate on the best measures, including energy taxation, to reduce greenhouse gas emissions, write Kai Schlegelmilch and Zoltán Szabó.  
Energy 13-07-2016

Brexit threatens global oil demand, warns IEA

Europe has been the “saving grace” of global oil demand, which is expected to be higher than forecast in 2016, but that is under threat from uncertainty caused by Brexit, the International Energy Agency has warned today (13 July).
Energy 20-06-2016

Will ‘digital oil’ be the solution to the energy crisis?

The oil sector believes that the digitisation of the industry is a solid option to cut costs and survive a volatile market, while meeting consumer demand.
Global Europe 15-03-2016

Why Putin went into Syria

The Russians intervened in Syria in order to bail the United States out of a very difficult situation, and obtain better understanding for their interests with Ukraine, writes George Friedman.
A Ukrainian border post is seen through bullet holes in a truck's windscreen on the outskirts of the eastern Ukrainian city of Luhansk, 3 June. Photo: Reuters
Europe's East 11-02-2016

In Ukraine’s conflict, rumours of compromise grow

The United States and Russia may be moving closer to an understanding on the conflict in Ukraine, writes Stratfor, the global intelligence company.
Global Europe 28-01-2016

Why does Patrushev warn of an American plot against Russia?

Coming from Nikolai Partushev, a senior Russian official, and former head of the intelligence service close to President Vladimir Putin, statements about an American plot against Russia have to be taken seriously, writes George Friedman for Geopolitical Futures.
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