The price of oil kept rising, hitting a five-month high of around $90 per barrel. WTI and Brent crude are both up 0.24%. As of this writing, Brent crude is trading at $89.085 per barrel, while US crude is trading at $85.053 per barrel, up. This rise comes after OPEC …
Read More »The Kremlin: It is difficult to underestimate the importance of oil coordination with Saudi Arabia at this time
The Kremlin said on Wednesday that it is difficult to underestimate the importance of coordination between Russia, Saudi Arabia and other partners on global oil markets amid the escalation of the conflict between Israel and the Palestinian Islamic Resistance Movement (Hamas). Kremlin spokesman Dmitry Peskov added to reporters in a …
Read More »Russia lifts the ban on most diesel exports
On Friday, October 6, the Russian government lifted the ban on diesel exports via seaborne pipelines, removing most of the restrictions that were implemented on September 21. Restrictions applied to gasoline exports remain in place. Diesel is the largest portion of Russia’s exports of petroleum products, amounting to about 35 …
Read More »Putin orders regulation of fuel oil prices and continuation of the ban on Russian exports
Russian President Vladimir Putin has ordered the government to provide state funding to ensure a smooth heating season, including by imposing regulations on the prices of fuel oil for home heating in some regions, the Kremlin said on Thursday. Russia has been facing a fuel shortage and rising prices in …
Read More »Oil dragged lower as OPEC maintains its output target
While US WTI slid $3.29, or 3.69 percent, to $85.94 per barrel, Brent crude oil futures were down $3.30, or 3.63 percent. On Wednesday, October 4, oil plummeted by more than $3 a barrel as worries about macroeconomic headwinds’ impact on demand outweighed Saudi Arabia’s and Russia’s commitments to maintain …
Read More »Manufacturing in Russia grew at its fastest pace in more than 6 years
Factory activity in Russia grew at the fastest pace in more than six years in September, and employment in the sector increased at the fastest rate in more than two decades, a survey showed on Monday. The Standard & Poor’s Global Manufacturing Purchasing Managers’ Index rose to 54.5 from 52.7 …
Read More »Russia makes minor amendments to the fuel export ban
A government document showed on Monday that the Russian government agreed to some amendments to the fuel export ban, lifting restrictions on fuel used to supply some ships, and diesel that contains a high percentage of sulfur. Moscow also lifted restrictions on the export of fuel that Russian Railways and …
Read More »Russia and China will build an oil shipping complex worth $686 million
The Russian Congress Fund said on Monday that Russia’s United Oil and Gas Chemical Company and China’s Shanyuan Industrial Development Company have agreed to pump joint investments worth five billion yuan ($686 million) to build an oil shipping complex in Russia’s far east. The complex will facilitate the export of …
Read More »The Russian Central Bank raises interest rates by 100 basis points
The Russian Central Bank raised the interest rate by about 100 basis points to 13% levels, contradicting expectations of its stabilization. According to the decision issued today, Friday, September 15, the bank indicated that inflationary pressures are still high, that the growth of domestic demand has exceeded the capacity to …
Read More »The G20 Summit – The Potential Effects on Financial Markets
In an era marked by seismic shifts in the global economic and political landscape, Noor Capital’s Research and Development Department prepared the latest research paper that delves deep into the implications of the eighteenth G20 Summit. As the assembly of the world’s major economies comes to pass, the paper scrutinizes …
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