OPEC maintains oil demand forecast despite supply cuts
The Organization of the Petroleum Exporting Countries (OPEC) has left its forecast for the global oil market mostly unchanged. Despite supply cuts from Saudi Arabia and Russia, which are set…
Russia Implements Temporary Oil Export Restrictions, Amplifying Global Fuel Shortage
Russia has taken the industry by surprise with its recent announcement of temporary export limitations on diesel and gasoline. This move has exacerbated the existing global shortage of these fuels.…
Suspected Kamikaze Drone Strikes Oil Plant in Russia’s Rostov Region
(FT) A drone attack, has hit an oil refinery in the Rostov region, southern Russia. Fragments of two drones were found at the refinery, which caused a fire that ranged…
Equinor Books $1.08B Impairment From Russian Exit Amid Revenue Double
(EnergyVoice) Equinor has incurred $1.08 billion impairment since announcing a cessation of new investments in Russia in a move to exit the country. The energy giant said that the increased…
Binance Goes After the Accounts of Relatives of Russian Officials
(Bloomberg) World’s largest crypto exchange Binance has blocked accounts of relatives of Russia government officials as calls for sanctions mount. Binance said that the stepdaughter of Foreign Minister Sergei Lavrov,…
Binance Announces Restrictions for Russian Accounts With Over 10,000 EUR
(Binance) Binance has announced a limit of services for nationals from Russia, natural persons residing in the country, or legal entities with crypto holdings of over 10,000 EUR. Binance says…
UK Isolates Moscow Stock Exchange Investors With Limits on Tax Benefits
(Gov. UK) Investors on the Moscow Stock Exchange will not be able to access certain tax benefits from the UK when trading on the bourse. Through the HM Revenue and…
Russia Says It Is Struggling Finding Forex Options as Global Freeze Mount
(Markets Insider) The Governor of Russian central bank Elvira Nabiullina has admitted that the country faces challenges getting foreign currency options due to the freeze of its global reserves. The…
Oil Traders to Shun Russian Oil From May 15 as Sanctions Mount – Reuters
(Reuters) Leading global trading houses will reportedly cut purchases of crude from Russia’s state-led oil companies from May 15. The reported move comes as the trading companies seek to comply…
OPEC to Maintain Output Policy, Sees Balanced Impact from Missing Russian Output
(OPEC) OPEC has indicated sticking with its output increase policy, as the cartel sees any reduced supply due to the Russian-Ukraine conflict being offset by dampened global demand. OPEC+ expects…
Russia’s Sberbank Put Under Full Sanctions by the US, Putin and Family Also Targeted
(Reuters) America has placed Russian Sberbank under a total ban, including banning all US citizens from investing in Russia following what it believes to be war crimes in Ukraine. Energy…
Washington Stops Russia from Paying $600M Sovereign Debt from US Reserves
(Reuters) President Joe Biden administration has moved to curtail the Russian government from paying holders of its sovereign debt from reserves held with the US banks. The payment, more than…