OPEC+ working on making up for lower Russian oil output
OPEC+ is working on making up for a drop in Russian oil output, two OPEC+ sources said on Thursday, as Russia’s production has fallen by around 1 million barrels per Continue Reading
Ukraine says its troops have pushed back Russian advance in eastern city
Ukraine said it had recaptured a chunk of the factory city of Sievierodonetsk, the focus of a Russian offensive to take the eastern Donbas region, and could hold it for Continue Reading
Ukraine warns that only lifting Black Sea blockade can avert global food crisis
Oleksandr Kubrakov, Ukraine’s infrastructure minister, told the Financial Times that “all of our activity won’t cover even 20 per cent of what we could do through the Black Sea ports”. Continue Reading
Thousands Swept Up as Kremlin Clamps Down on War Criticism
Vladimir Efimov, a local politician on the Kamchatka Peninsula in Russia’s Far East, was charged with “discrediting the army” and ordered to pay a $500 fine three times in recent Continue Reading
Ukraine artillery war on the eastern frontlines
Ukraine — First came the distant bang of Russian artillery firing. Then the ominous whistle and crackle of incoming shells, which landed within 50 feet of a Ukrainian tank position, Continue Reading
Russia Sees Extra $6.4 Billion Oil Revenue In June As Prices Rally
Russia’s Finance Ministry expects $6.37 billion in additional oil revenue in June. Russian oil exports haven’t fallen off a cliff, while it continues to sell natural gas to most of Continue Reading
Oil Set for Sixth Weekly Gain as OPEC+ Supply Boost Disappoints
Output increase in July, August 50% higher than recent hikes It’s very unlikely the group will meet these targets, ING says Goldman’s Currie: OPEC+ Output Hike a Minimal’ Boost to Continue Reading
US East Coast Fuel Crisis Deepens Ahead of Peak Season
The supply crisis on the East Coast is growing worse, raising the specter of fuel rationing just as the US enters what is typically the heaviest time of year for Continue Reading
Large differences among the recent increases in the cost of powering gasoline, diesel, and electric vehicles
This post examines the recent changes in the costs of powering gasoline, diesel, and electric vehicles. The expectation was that the cost of electricity had recently increased much less than Continue Reading
Opec agrees to accelerate oil production following US pressure
Opec and its allies on Thursday agreed to accelerate oil production in July and August, as the cartel’s linchpin Saudi Arabia bowed to US pressure to cool a crude price Continue Reading