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car&bike Team
Jul 31, 2022, 4:16 AM
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
2 Min
Reuters | Jul 31, 2022Oil Gains 1.5%, Posts Another Weekly Rise On Supply ConcernsOil prices rose nearly 1.5%, posting a second straight weekly increase as impending European Union sanctions on Russian oil raised the prospect of tighter supply and had traders shrugging off worries about global economic growth.2 mins read
Reuters | Jul 31, 2022Indian Oil Minister Says Oil At $110 A Barrel Not SustainableIndia's Oil Minister Hardeep Singh Puri told the World Economic Forum in Davos on Tuesday that a crude oil price of $110 a barrel was not sustainable1 min read
Reuters | Jul 31, 2022Oil Rises To 2-Month High On Tight Supplies, EU Seeks Russian Crude BanHungary remains a stumbling block, as EU sanctions require unanimous support. Hungary is pressing for about 750 million euros ($800 million) to upgrade its refineries and expand a pipeline from Croatia.2 mins read
Reuters | Jul 31, 2022U.S. Stocks End Down Slightly After Early Boost From Powell; Oil FallsMajor U.S. stock indexes ended down slightly Wednesday, losing early gains tied to remarks by Federal Reserve Chair Jerome Powell that the U.S. central bank is "strongly committed" to bringing down inflation, while sharply lower oil prices weighed on energy shares.2 mins read- Reuters | Jul 31, 2022Oil Rises On Tight Supplies; Trade Choppy On Demand WorriesBrent crude rose 26 cents to settle at $122.27 a barrel. U.S. West Texas Intermediate crude rose 26 cents to settle at $120.93 a barrel. Trade was volatile, with prices down about $3 a barrel earlier.2 mins read
- Reuters | Jul 31, 2022Oil Prices Slump As Investors Fear Fed Rate Hikes Will Hurt DemandInvestors have been paring positions in risky assets as they assess whether inflation-fighting central banks could push the world economy into recession with higher interest rates.2 mins read
- Reuters | Jul 31, 2022Oil Swings Higher As Tight Supplies Overshadow Demand DestructionRussian grades accounted for about 16.5% of India's overall oil imports in May2 mins read
- Reuters | Jul 31, 2022Oil Swings Higher As Tight Supplies Overshadow Demand DestructionBrent futures gained $1.06, or 0.9%, to settle at $120.57 a barrel, its highest since May 31. U.S. West Texas Intermediate (WTI) crude gained 91 cents, or 0.8%, to $119.4.2 mins read
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