Oil
Oil prices rose due to record exports from the US
Oil prices started to rise on Thursday, October 17, extending gains of more than 3% in the previous session.
Saudi Arabia supplies twice as much oil to the EU countries
In September, Saudi Arabia doubled its supply to European countries that are abandoning russian oil.
Russians are accused of smuggling Venezualean oil
Two russian businessmen were arrested in Europe for smuggling Venezuelan oil on a “shadow fleet”.
Oil is rising due to easing of quarantine measures in China
Oil prices rose as Chinese government officials plan to ease some of the Covid-19 lockdown measures.
Oil and gas ExxonMobil has completely left the russian market
After seven months of negotiations, the American oil and gas corporation ExxonMobil completely withdrew from russia.
Production at “Sakhalin-1” decreased 22 times
Oil production at russia’s “Sakhalin-1” project has plummeted due to Exxon Mobil’s refusal to accept local tanker insurance.
Germany may lift the ban on gas and oil production on the shelf
The German government may lift the ban on shale gas and oil production in the North and Baltic seas.
Turkey increases oil imports from the russian federation
Turkey significantly increased its oil imports from russia against the backdrop of restrictions on the purchase of russian raw materials by Western countries.
Russia lost 60% of oil sales by sea in Europe
Russia has lost 60% of its raw oil shipping market in Europe after launching a full-scale invasion of Ukraine.
OPEC+ will cut oil production: will it save russia?
On Wednesday, October 5, OPEC+ countries agreed to cut oil production to 2 million barrels per day. USM tells how this will affect the West’s plans to impose a “ceiling” on russian oil prices.
