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Reuters

Jul 31, 2022, 5:44 AM

Oil Extends Gains As Major Producers Flag Capacity Limits

Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and weak output from other member nations.

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  Reuters | Jul 31, 2022

  Oil Jumps 4% As U.S. Gasoline Prices Hit Record High

  Oil prices rose about 4% as U.S. gasoline prices jumped to a record high.

  2 mins read
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  Reuters | Jul 31, 2022

  Oil Above $120 A Barrel Ahead Of EU Meeting On Russia Sanctions

  The EU is due to meet on Monday and Tuesday to discuss a sixth package of sanctions against Russia for its invasion of Ukraine, actions which Moscow calls a "special military operation".

  2 mins read
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  car&bike Team | Jul 31, 2022

  Oil Tumbles About 6% As China COVID Lockdowns Weigh

  Crude imports by China in the first four months of 2022 fell 4.8% from a year ago, but April imports were up nearly 7%.

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  Reuters | Jul 31, 2022

  Oil Climbs Above $121 A Barrel As China Eases Restrictions, EU Meets

  Oil prices hit a two-month high at $121 per barrel as China eased COVID-19 restrictions and traders priced in expectations that the European Union will eventually reach an agreement to ban Russian oil imports.

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  Reuters | Jul 31, 2022

  Oil Prices Extend Gains After EU Bans Most Russia Oil Imports

  European Union leaders agreed in principle to cut 90% of oil imports from Russia by the end of 2022

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  Reuters | Jul 31, 2022

  Oil Edging Higher Supported By The Prospect Of A Tight Market

  U.S. petrol stocks fell by 482,000 barrels to 219.7 million barrels, U.S. Energy Information Administration said. The start of summer driving season in the United States normally entails increased consumption.

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  Reuters | Jul 31, 2022

  India Oil Cos' $125.5 Million Dividend From Oil Assets Stuck In Russia

  European countries and the United States have imposed heavy sanctions on Russia since Moscow sent troops into Ukraine on Feb. 24, but India has not explicitly condemned the action.

  1 min read
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  car&bike Team | Jul 31, 2022

  Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply

  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 mins read