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.
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.
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.
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.
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).
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.
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.
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.