Latest news

G7 coalition to keep Russian oil price cap at $60 per barrel

The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow's revenues.

read more... 18/04/2023


US crude oil exports hit record high in 2022, EIA data shows

U.S. crude oil exports hit a record high in 2022 as releases from the Strategic Petroleum Reserve (SPR) nearly matched the increase in domestic output to boost U.S. supply to countries looking to replace Russian crude.

read more... 16/03/2023


Borrell: New EU sanctions against Russia before Feb 24

European Union High Representative for Foreign Affairs Josep Borrell stated on Monday that the 10th sanctions package against Russia is expected to be adopted by the EU before the end of the week, which also marks the anniversary of the onset of the Ukrainian conflict.

read more... 21/02/2023


The IEA Expects Global Oil Demand Hit A Record High In 2023

Global oil demand is set to increase by 2 million barrels per day (bpd) this year, pushed up by growth in Chinese consumption after the reopening, the International Energy Agency (IEA) said on Wednesday as it raised its 2023 demand growth estimate by 100,000 bpd from last month’s forecast.

read more... 16/02/2023


Serbia to invest 100 mln euro in oil pipeline with Hungary

Serbia plans to invest 100 million euro ($108 million) in the construction of an oil pipeline to Hungary which will help diversify the country's energy sources, the energy ministry said on Thursday.

read more... 10/02/2023