- The G7 ponders capping oil prices to deny Russia revenues. How would it work?
June 27, 2022
Leaders of the Group of 7 nations meeting in Germany, seeking a new way to throttle Russia’s finances while limiting the harm to Western economies, are discussing imposing a ceiling on the price paid for Russian oil. Details of the plan are s...
- EU’s Russian oil ban: What to expect for energy markets
June 23, 2022
As the European Commission’s proposal to ban imports of Russian oil languished during May, it became clear some kind of compromise would be necessary to overcome the objections of Hungary. Along with neighbours the Czech Republic and Slovakia...
- Asia is buying discounted Russian oil, making up for Europe’s cutbacks
June 22, 2022
A surge in demand from Asia for discounted Russian oil is making up for the sharply lower number of barrels being sold to Europe, dulling the effects of the West’s efforts to punish Moscow over its invasion of Ukraine and keeping revenue flow...
- Western move to choke Russia’s oil exports boomerangs, for now
June 22, 2022
When the United States and European Union moved to curtail purchases of Russian fossil fuels this year, they hoped it would help make the Russian invasion of Ukraine so economically painful for Moscow that Russian President Vladimir Putin wou...
- Oil refining margins at new highs of $26
June 17, 2022
Singapore Gross Refining Margins – Asian benchmark – touched new life highs of the $25.9 per barrel mark, on the back of rising demand for refined products globally. This is expected to benefit Reliance Industries, IOCL, BPCL, HPCL, MRPL, and...