IEA: Russian Crude Ban Will Take 2.4 Million Bpd Off The Market

IEA: Russian Crude Ban Will Take 2.4 Million Bpd Off The Market

As the European Union prepares to implement a ban on Russian seaborne crude in December, the market will have to prepare itself for a loss of 2.4 million bpd, according to the International Energy Agency (IEA). The ban on Russian crude imports by sea will take 1.4 million bpd of oil off the market, along … Read more

Russia Sees Extra $6.4 Billion Oil Revenue In June As Prices Rally

Russia Sees Extra .4 Billion Oil Revenue In June As Prices Rally

Russia expects to receive as much as $6.37 billion in additional oil and gas revenues in June, its finance ministry said on Friday, as energy commodity prices have rallied since the Russian invasion of Ukraine. According to estimates released on Friday by the Finance Ministry, Russia expects its additional revenue from oil and gas sales … Read more

Chinese Demand Destruction Counters The Risk Of A Russian Oil Ban

Chinese Demand Destruction Counters The Risk Of A Russian Oil Ban

While lockdowns in China are causing significant demand destruction and adding downward pressure to oil prices, the EU’s threat to ban Russian oil imports has the potential to send prices significantly higher. Oilprice Alert: Our trading specialists have just released a special report on how to play today’s boom in oil prices. The current run-up … Read more