Tag: Russian
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Russian oil discounts will reach $ 25 on this date
Moscow has devised a plan to impose maximum ceilings on Russian oil discounts, in an effort to control the fallout from Western sanctions following its invasion of Ukraine. The Russian Council of Ministers submitted a bill to the State Duma that limits discounts on Urals crude in the international market, which the government will recognize…
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The Kremlin reveals the position of OPEC + on the decision to reduce Russian oil production
Today, Friday, February 10 (2023), Kremlin spokesman Dmitry Peskov revealed that Russia held consultations with several countries in the OPEC + coalition regarding the decision to reduce Russian oil production. This denies previous statements, issued today, Friday, February 10 (2023) – also – that Moscow decided to cut production without consulting with the coalition countries.…
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Moscow responds to developments in the ceiling of Russian oil prices
Moscow described the “waivers” of the Russian oil price cap as tangible evidence of continued demand for Russian supplies. On Tuesday, February 7 (2023), the European Commission published an explanation of the decision to impose a price cap on Russian oil products, in which it specified the cases to which the price ceiling does not…
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Russian oil exports to India outperform Saudi Arabia and Iraq
India continues its record purchases of Russian oil, taking advantage of lower prices due to Western sanctions; In January 2023, it jumped to 1.27 million barrels per day, according to “Vortexa” shipping analytics. Today, Monday, February 6, 2023, the Financial Express newspaper stated that India’s appetite for Russian oil has reached unprecedented rates, and Russian…
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India’s refineries buy Russian oil in Emirati dirhams instead of dollars
Indian refineries have started exchanging the UAE dirham for US dollars, to pay for most of the quantities of Russian oil purchased, depending on trading companies headquartered in Dubai, United Arab Emirates. Indian refiners and traders fear that they will not be able to continue settling trades in dollars, especially if the price of Russian…
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Russian oil derivatives are witnessing an agreement on the ceiling of their prices
The countries of the European Union, the Group of 7, and Australia agreed on the new price ceiling for Russian oil derivatives, which is scheduled to enter into force starting tomorrow, Sunday, February 5 (2023). And the countries, which met on Friday night, February 3, announced that they had reached an agreement on a new…
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Azerbaijani gas is a haven for Romania to dispense with Russian supplies
Romania signed an agreement to obtain supplies of Azerbaijani gas in order to secure its fuel needs in light of the efforts of European countries to dispense with Russian supplies. The agreement, which was signed by the Azerbaijani oil company SOCAR and the Romanian company Romgaz, includes the transfer of one billion cubic meters of…
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Novak: Russian oil is finding alternative buyers… and current prices are acceptable
Russian Deputy Prime Minister Alexander Novak confirmed that Russian oil production and exports are stable despite Western sanctions and price ceilings, as Russian oil finds alternative buyers under these circumstances. “Our companies have taken all the necessary measures – first and foremost – to find new supply chains, markets, and transport our oil,” Novak said,…
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US Gasoline Shortage May Exacerbate By Russian Diesel Embargo (Report)
The gasoline shortage crisis in the United States is set to worsen in the coming weeks and months, with seasonal fuel inventories dropping to their lowest levels in 13 years. New York and most states on the east coast of the United States are expected to be at risk of severe fuel shortages this summer,…
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An expected decline in Saudi oil prices to Asia..Is Russian crude dangerous?
It seems that the competition in the Asian markets will become more difficult, with the spread of news that Saudi oil prices may witness a decline in Asia during the month of March next. Saudi Arabia (the largest oil exporter in the world) may resort to lowering the prices of crude grades to Asia for…
