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The Russian Deputy Prime Minister Alexander Novak announced on February 20th, during a plenary session at the International Exhibition and Forum 'Russia' at VDNKh, that global oil demand will continue to grow until at least 2040.

                            'Novak noted that despite some people cl...

By Rhod Mackenzie

The market paid little attention to the thirty-sixth OPEC+ oil producers club ministerial meeting held last Thursday. Although production cuts amounting to 2.2 million barrels per day were announced, oil prices rose briefly before slumping once again.

The production quotas for...

By Rhod Mackenzie

The OPEC+ meeting concluded with a surprising outcome. The association of petroleun exporting countries has secured a new ally in the form of Brazil. This substantially enhances the influence of OPEC+ resolutions. This is a significant development as Brazil, along with the United...

By Rhod Mackenzie

On the 30th November, the global oil market will be fixated on this year's OPEC+ ministerial meeting. According to analysts, the two key signatories of the agreement, Russia and Saudi Arabia, will reinforce their commitment to making voluntary cuts in production and exports, even...

By Rhod Mackenzie

For the past five months, Russian oil has been traded above the $60 price limit set by Western nations. This oil is transported by numerous parties including Greek shipping companies and tankers that have lacked Western registration and insurance. As a result, Russia's monthly in...

By Rhod Mackenzie

 The US government has eased sanctions against Venezuela in the hope that it will improve the situation in the oil market, where there has been a noticeable shortage recently. This is a significant breakthrough for the Latin American country. However, due to the state of Venezuel...