oil
Kallas: Strikes on russian oil revenues are a logical step in countering aggression
High Representative of the EU for Foreign Affairs and Security Policy Kaja Kallas stated that Ukraine’s attacks on the russian oil sector are entirely justified. It is the revenue from energy sales that allows the Kremlin to sustain its army and…
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China Oil Prices Hit Record $129 per Barrel Amid Strikes on Saudi Arabia
Exchange-traded oil prices in China reached an unprecedented 129 dollars per barrel against the backdrop of attacks on a key Saudi pipeline. Due to the escalation of the situation in the Middle East, global markets faced an acute shortage of raw…
Russia cuts oil production to 8.7 million barrels per day following Ukraine strikes
In August, Russia reduced crude oil production to 8.718 million barrels per day, marking the largest monthly decline since December. This drop occurred against the backdrop of persistent Ukrainian attacks on Russian oil refineries and export…
US economic pressure on Iran limits oil exports and influence in the Strait of Hormuz
Six months into the conflict, Iran is facing unprecedented economic pressure from the US. Restrictions on oil exports and limited access to foreign currency are creating major challenges for Tehran.
Russia lowers oil production forecast to a 17-year low
The government of Russia has lowered its 2026 oil production forecast to 494.2 million tonnes, marking the lowest level since 2009, amid the consequences of the war against Ukraine. At the same time, the Kremlin has revised its crude oil and fuel…
Hormuz Strait blockade costs energy importers $330 billion in six months
Due to the blockade of the Hormuz Strait between March and August 2026, global fossil fuel importers paid $330 billion more than pre-war forecasts. These figures were released by the Centre for Research on Energy and Clean Air (CREA).
