Friday, May 2, 2025

Mideast Oil Producers on Low-Level Alert after Iraq Pricing Switch

From Reuters Gulf OPEC members Saudi Arabia and Kuwait are unlikely to follow Iraq in a major shift in the way it prices its oil in Asia and will monitor Baghdad’s attempts to squeeze more dollars from its reform, industry sources said. Last week, Iraq state-oil firm SOMO began consultations with traders on its plans to switch to the Dubai

Despite New U.S. Sanctions, Russian Oil Traders Say It’s Business As Usual

From Reuters Russian oil companies will quickly find ways to work around tighter restrictions imposed this month by the United States on the foreign finance they can use, multiple Russian oil industry sources told Reuters. The new restrictions cut the period that U.S.-based entities can provide finance to Russian energy firms from 90 to 60 days and are part of