Prices tumbled midweek when OPEC+ postponed to Nov. 30 a ministerial meeting to iron out differences on production targets for African producers.
A delayed OPEC meeting, Russian oil export sanctions, falling confidence in Chinese multinational companies and the Israeli-Hamas conflict are all playing a hand at affecting oil prices this week.
OPEC+ members recognize the need to cut production at their ministerial meeting, now set for Nov. 30, but the question is how to shoulder the burden, a Rystad Energy analyst said.
For the upcoming week, Stratas Advisors forecast during the fourth quarter that oil demand will outpace supply by around 900,000 bbl/d.
As Chinese and Venezuelan relations grow closer, the U.S. scrambles to salvage its failed sanctions strategy against President Nicolás Maduro.
For the upcoming week, Stratas Advisors expects oil prices to be under pressure and may test $90 again, with the price of Brent not able to break through $95 last week.
Russian wholesale gasoline Ai-92 grade prices fell by 9.7% to $582 per metric ton on Sept. 22 following a government ban on fuel exports.
President Joe Biden's administration has asked U.S. energy companies to prepare affidavits documenting how Mexico’s protectionist policies disrupted their investments as Washington prepares to escalate a trade dispute with its neighbor.
Carbon futures dashboards are emerging in Europe as buyers worldwide are said to be eager to buy carbon credits as commodities.
Gazprom accounts for more than half the increase in China's gas imports this year, says CEO Alexei Miller, after Gazprom's natural gas exports, mainly to Europe, almost halved last year after the West responded with economic sanctions to Moscow.