(Oil Price) – Tankers carrying a total of up to 12 million barrels of crude oil are either en route or close to China in East Asian waters, waiting for buyers in the world’s top crude importer, as India is pulling back. Five of these tankers signal ‘for orders’ or ‘China for orders’ as their status, per data intelligence firm Kpler
(Oil Price) – With Russia still focused on Ukraine and China on Taiwan, the U.S. and its key Western allies — most notably, Great Britain, France, and Italy — are continuing to secure highly strategic geopolitical gains across the Middle East and North Africa (MENA). Following Moscow’s loss of its key client state in the region, Syria, the allies have been
(Oil Price) – Kazakhstan has filed a formal bid with the U.S. Treasury seeking authorization to buy out the Kazakh assets of Russia’s sanctioned oil firm Lukoil, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on Wednesday. The United States sanctioned Lukoil at the end of October, which prompted the Russian firm, the country’s second-largest oil producer, to seek a sale of its foreign assets. Soon after,
(Oil Price) – Europe is expected to import a record-high volume of liquefied natural gas this year as stronger demand for replenishing storage sites, the phase-out of Russian supply, and continued pipeline exports to Ukraine will drive increased demand, the International Energy Agency (IEA) said on Friday. After setting a record in 2025, European LNG imports are poised to reach a
(BOE Report) – Russia’s federal budget revenues from oil and gas dropped by 24% in 2025 to the lowest level since 2020, according to Finance Ministry data, as oil prices fell while the rouble appreciated. Oil and gas revenue is the leading source of cash for the Kremlin, making up a quarter of federal budget proceeds that have been drained
(BOE Report) – The ousting of Nicolas Maduro in Venezuela may mark the beginning of a broader U.S. attempt to realign Latin America geoeconomically, limiting the ability of Russia and China to use the Western Hemisphere as a pressure point in global commodity markets. Central America could become the next domino to fall. The region is an attractive route for facilitating both
(Oil Price) – Russia on Tuesday asserted ownership of all oil assets a state Russian company is developing in Venezuela, following the claims of U.S. President Donald Trump that major American and Western oil firms would help revive Venezuela’s oil industry. Russia’s Roszarubezhneft, a state-owned firm that took over Rosneft assets in 2020 following U.S. sanctions on Rosneft’s Venezuelan oil trade, said on
(Oil Price) – Russia’s crude oil production dipped to 9.326 million barrels (bpd) in December, down by over 100,000 bpd from November and nearly 250,000 bpd lower than Moscow’s OPEC+ quota, sources familiar with classified government data told Bloomberg on Friday. The fresh U.S. sanctions on Russia’s top producers Rosneft and Lukoil drove the lower crude output at the end of last year.
(Oil Price) – U.S. forces have seized a Russia-flagged tanker in the North Atlantic after a dramatic pursuit that began near Venezuelan waters, marking a sharp escalation in Washington’s enforcement of its global blockade on sanctioned Venezuelan oil. U.S. European Command confirmed the capture of the M/V Bella 1, saying the vessel was seized for sanctions violations “pursuant to a warrant issued by a
(Oil Price) – Billions of barrels of Venezuela’s oil claimed by major state-owned Chinese and Russian companies under current deals are now in doubt following the U.S. capture of Nicolas Maduro, according to investment bank Morgan Stanley. Oil giant and top Asian refiner China Petroleum & Chemical Corporation, or Sinopec, is entitled to as many as 2.8 billion of barrels under
(Investing)– Oil prices settled higher on Tuesday as investors assessed stronger-than-expected U.S. economic growth and the risk of disruptions to oil supply from Venezuela and Russia. Brent crude futures settled 31 cents, or 0.5%, higher at $62.38 a barrel. U.S. West Texas Intermediate crude was up 37 cents, or 0.64%, at $58.38. Prices had risen by more than 2% on Monday,
(BOE Report)– Oil prices posted modest rises on Wednesday, extending gains from the previous session, supported by robust U.S. economic growth and the risk of supply disruptions from Venezuela and Russia. Brent crude futures climbed 4 cents, or 0.06%, to $62.42 a barrel by 0117 GMT, while U.S. West Texas Intermediate crude added 3 cents, or 0.05%, to $58.41. Oil
