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Search resuls for: "Russian Energy Ministry"


4 mentions found


☆ Oil prices fall on worries of higher U.S. interest rates
  + stars: | 2024-05-23 | by ( ) www.cnbc.com   time to read: +2 min
An aerial view of a crude oil storage facility is seen on May 4, 2020 in Cushing, Oklahoma. Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand. Brent crude futures fell 27 cents, or 0.3%, to $81.63 a barrel at 0004 GMT. U.S. West Texas Intermediate crude (WTI) futures were down 35 cents, or 0.5%, at $77.14. Higher interest rates boost borrowing costs, crunching funds that could boost economic growth and oil demand.
Persons: Brent Organizations: Brent, . West Texas, Federal, Energy Information Administration, Organization of, Petroleum, Secretariat, Russian Energy Ministry, Wednesday, Citi Research, Citi Locations: Cushing , Oklahoma, U.S, Russia, OPEC
☆ Exclusive: Russian fuel export ban to be lifted next week
  + stars: | 2023-11-09 | by ( ) www.reuters.com   time to read: +2 min
Russia, the world's top seaborne exporter of diesel, introduced a ban on fuel exports on Sept. 21 to tackle high domestic prices and shortages. The government eased restrictions on Oct. 6, allowing the export of diesel by pipeline, but kept measures on gasoline exports in place. Energy Minister Nikolai Shulginov on Wednesday said that Russia was considering lifting the export ban on some grades of gasoline. Another industry source said the ban would be lifted next week. "They promised to lift the exports ban next week.
Persons: Shun, Tatiana Meel, Nikolai Shulginov, Diesel, Alexander Novak, Guy Faulconbridge, David Goodman Organizations: REUTERS, Rights, Reuters, Energy, Sunday, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, Russian
☆ Oil prices near $100 per barrel raise questions over demand destruction
  + stars: | 2023-09-29 | by ( Ruxandra Iordache | ) www.cnbc.com   time to read: +7 min
boonchai wedmakawand | Moment | Getty ImagesSupply cuts from heavyweight crude producers have helped drive oil prices near $100 per barrel — fueling some to consider the potential for future demand destruction. Seven European refiners and traders, who spoke under anonymity because of contractual obligations, told CNBC that local buyers can withstand oil prices veering into triple digits without lowering their output runs. Some European market participants polled by CNBC doubted triple-digit oil prices are sustainable in the long term, with three pointing to possible demand destruction — where customers gradually answer persistently high prices with fewer purchases. "Sometimes high oil prices can become a self-fulfilling prophecy," Indian Energy Minister Hardeep Singh Puri warned in August. The oil price hike has benefitted Moscow despite sanctions.
Persons: boonchai, Sushant Gupta, Wood Mackenzie, Topping, Ukraine —, refiner, Hardeep Singh Puri, Giovanni Staunovo Organizations: Brent, ING, Organization of, Petroleum, CNBC, U.S . Energy, Administration, Indian Energy, UBS Locations: London, Asia, Wood, OPEC, Saudi Arabia, Russia, China, Europe, Ukraine, U.S, Moscow, Washington, Israel, East, Riyadh, Iran, Beijing
☆ Russia works on measures to curb discounts on its oil prices
  + stars: | 2023-01-10 | by ( ) www.reuters.com   time to read: +1 min
MOSCOW, Jan 10 (Reuters) - The Russian energy ministry said on Tuesday it has been working on additional measures to limit discounts to international benchmarks on Russian oil prices, after the West imposed price caps. Russia is the world's second largest oil exporter after Saudi Arabia, with oil and gas sales accounting for almost half of the country's state budget revenue. President Vladimir Putin last month signed a decree that banned the supply of crude oil and oil products from Feb. 1 for five months to nations that abide by the cap. Russian oil traditionally sells at a discount to international benchmarks, such as Brent. "Details on the procedure will be published shortly as well as details on the price and discount monitoring procedures.
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