Latest news

Oil prices could fall without further OPEC cut

LONDON, Dec 1 - OPEC+ is widely expected to stick to its latest target of reducing oil production by 2 million barrels per day (bpd) when it meets on Sunday, but some analysts believe that crude prices could fall if the group does not make further cuts.

read more... 02/12/2022


OPEC decision to hold virtual meeting signals little likelihood of policy change, cap on Russian oil awaited

The OPEC+ decision to hold its Dec. 4 meeting virtually signals little likelihood of a policy change, a source with direct knowledge of the matter told Reuters on Wednesday.

read more... 30/11/2022


EU fails to agree on Russian oil price cap

European Union governments failed to agree on Monday on a price cap on Russian seaborne crude oil, as Poland insisted that the cap had to be set lower than proposed by the G7 to cut Moscow's ability to finance its invasion of Ukraine, diplomats said.

read more... 29/11/2022


Ukraine wants lower cap on Russian oil, at $30-$40 per barrel

The price for Russian seaborne oil should be capped at between $30 and $40 per barrel, lower than the level that Group of Seven nations have proposed, Ukrainian President Volodymyr Zelenskiy said on Saturday.

read more... 28/11/2022


EU struggles with Russian oil price cap, talks to resume when positions converge

European Union governments remained split on Thursday over what level to cap Russian oil prices at to curb Moscow's ability to pay for its war in Ukraine without causing a global oil supply shock, with more talks possible on Friday if positions converge.

read more... 25/11/2022