The global oil market points to short-term weakness ahead of the EU embargo on Russian oil

NEW YORK (Reuters) – The global oil market is signaling a possible turnaround, as traders and analysts worry about lower demand for crude and an oversupply market in the coming months. After months of strength, crude oil futures are tipping to lows not seen all year as top oil consumer China enters additional COVID-19 lockdowns … Read more

Venezuela’s Oil Partners Head to Exit, Ditching Unpaid Debt

CABIMAS, Venezuela, Oct 27 (Reuters) – Venezuela is allowing joint venture partners of state oil company PDVSA to leave — by selling or giving back their shares to others — as long as they default on past debts and unpaid profits, closing four people. He said for the matter. Having to take a loss or … Read more

Western officials finalize Russia’s plans to cap oil prices

WASHINGTON (Reuters) – US and Western officials are finalizing plans to put a cap on Russian oil prices amid a warning from the World Bank that any plan would need the active participation of emerging market economies to be effective. Officials said no price range has been set yet, but someone familiar with the process … Read more

Putin summons Erdogan and plans to pump more Russian gas through Turkey

Putin presents the Turkish President with a new plan for the “gas axis” Moscow seeks new corridor after damage to Baltic pipelines Erdogan is seen as a major diplomatic player in the Russo-Ukrainian war ASTANA (Reuters) – Russian President Vladimir Putin suggested to his Turkish counterpart Recep Tayyip Erdogan on Thursday that Moscow could export … Read more

Russia says at the United Nations that the United States has a lot to gain from Nord Stream’s damage

Sept 30 (Reuters) – The Russian ambassador to the United Nations on Friday told the Security Council that the United States had a lot to gain in the gas trade from damage to the Nord Stream pipeline network under the Baltic Sea, but stopped short of holding Washington responsible for what happened this week. Explosions. … Read more