China accused the United States of “unilateral bullying” in calling on allies to impose tariffs on China over its purchase of Russian oil, fueling tensions as Chinese and U.S officials meet in Spain to try to resolve trade disputes. China opposes Washington’s request that the Group of Seven and NATO countries impose secondary tariffs on … Read more

Summary Russia oil supplies in focus after drone attacks Markets eye Fed meeting for clues on macroeconomy Analysts expect US crude inventory declines last week (Reuters) – Oil prices held steady on Tuesday as markets weighed potential supply disruption from Russia after Ukrainian drone attacks on its refineries and the prospect of a U.S. central … Read more

(Reuters) – U.S. Treasury Secretary Scott Bessent said on Monday that the Trump administration would not impose additional tariffs on Chinese goods to halt China’s purchases of Russian oil unless European countries hit China and India with steep duties of their own. Bessent told Reuters and Bloomberg in a joint interview that European countries needed … Read more

Summary Ukraine attacks more Russian energy facilities over the weekend Trump presses NATO nations to halt Russian oil purchases US-China officials in Madrid for trade talks (Reuters) – Oil prices edged higher on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose … Read more

Summary G7 finance ministers discuss possible tariffs on countries ‘enabling’ war in Ukraine US Treasury Secretary said countries should impose tariffs on purchasers of Russian oil Bessent heads to Madrid for more talks with Chinese counterpart WASHINGTON, Sept 12 (Reuters) – Group of Seven nations’ finance ministers discussed in a call on Friday further sanctions … Read more

By Erwin Seba Traders continue to worry over bearish US economic data Ukrainian drones strike Russia’s largest oil terminal Prices supported by Chinese buying and war risks Brent and WTI benchmarks fell sharply in previous session Sept 12 (Reuters) – Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest … Read more

The global crude oil market is facing two long-term fundamental shifts that will change how cargoes flow around the world and how they are priced. The first factor is a supply and demand issue, with the vast majority of demand growth concentrated in Asia but the supply growth largely coming from the Americas outside of … Read more

Summary IEA expects oversupply to increase with OPEC output boost EIA reports bigger than expected rise in oil stocks US consumer prices data due later on Thursday (Reuters) – Oil prices held steady on Thursday as worries over softening U.S. demand and broad oversupply risks were offset by concerns over attacks in the Middle East … Read more

Summary Israeli strike on Hamas leadership in Qatar supports prices Trump asks EU to put tariffs on China, India to pressure Russia Longer-term outlook still for oversupply as OPEC+ ups production (Reuters) – Oil prices rose on Wednesday after Israel attacked Hamas leadership in Qatar, Poland shot down drones and the U.S. made a push … Read more

(Reuters) – Barclays on Monday lowered its Brent crude oil price forecast for 2026 by $4 to $66 a barrel, citing expectations that OPEC+ will fully unwind voluntary production cuts by September next year. The bank said OPEC+’s weekend decision to raise October production targets by 137,000 barrels per day (bpd) was “the group initiating … Read more

By Haslinda Amin The decision by OPEC+ to once again raise production may have been more modest than expected, but oil prices could still tumble below $60 a barrel into the end of the year and the start of 2026, FGE NexantECA Chairman Emeritus Fereidun Fesharaki said on Bloomberg Television. The Organization of the Petroleum … Read more

Summary Eight OPEC+ members to lift output by 137,000 bpd from October Russia hits Ukraine with biggest air attack of war Trump says European leaders to visit US over Russia-Ukraine war LONDON, Sept 8 (Reuters) – Oil prices climbed more than $1 on Monday, regaining some of last week’s losses, after OPEC+’s output hike was … Read more

Summary OPEC+ to consider raising oil production further, sources say OPEC+ meeting set for Sunday US crude stocks rose last week, sources say (Reuters) – Oil prices fell 1.5% on Thursday, adding to their more than 2% decline the previous session, as investors awaited a weekend meeting of OPEC+ at which producers are expected to … Read more

Venezuela’s oil exports surpassed 900,000 barrels per day in August, the highest level since November, after energy producer Chevron received a license that has allowed the OPEC country’s crude to return to the U.S. market after a four-month pause, shipping data showed. The U.S. Treasury Department last month issued a restricted authorization for Chevron, one … Read more

(Reuters) – Oil prices fell by about 2% on Wednesday ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October. Brent crude fell $1.16, or 1.7%, to $67.98 a barrel by 1030 GMT. U.S. West Texas Intermediate crude fell $1.28, or 2%, to $64.31 a … Read more

Summary Ukraine’s attacks force Russia to shut 17% of oil-processing capacity Bets on Federal Reserve rate cut buoy oil demand outlook US market reopens on Tuesday following Labour Day break (Reuters) – Oil prices rose almost 2% on Tuesday as concerns about supply disruptions grew amid an escalation of the conflict between Russia and Ukraine, … Read more

  Russian drones knock out Ukraine power facilities Zelenskiy vows more strikes deep inside Russia OPEC+ due to meet on September 7 (Reuters) – Oil prices rose by more than 1% on Monday on concern over supply disruptions stemming from intensified Russia-Ukraine airstrikes as well as a weaker dollar. Brent crude was up 83 cents, … Read more

By Erwin Seba OPEC+ supply increase expected to arrive in autumn Lackluster US demand expected as summer driving season ends Uncertainty over Russian supply impacts market sentiment Russian oil exports to India set to rise despite US pressure HOUSTON, Aug 29 (Reuters) – Oil prices fell on Friday as traders looked toward weaker demand in … Read more

OPEC+ meeting in focus Uncertainty over Russian supply impacts market sentiment Russian oil exports to India set to rise despite US pressure (Reuters) – Oil prices fell on Friday, but were set for a weekly gain, tugged between uncertainty about Russian supply and expectations of lower demand as the summer driving season in the United … Read more

Summary US tariffs on India for Russian oil take effect India to raise imports by 10-20% in September, traders say Russian refining drops because of maintenance and attacks Russian exporters sell oil at wider discounts (Reuters) – Russian oil exports to India are set to rise in September, traders said, as producers cut prices to … Read more

(Reuters) – The United States imported crude oil from Venezuela last week for the first time since Washington gave Chevron Corp a new license to operate in the South American country, data from the Energy Information Administration showed. About 74,000 barrels per day of Venezuelan crude oil arrived at U.S. ports in the week ended … Read more