American producers major beneficiaries of sanctions on Russian oil
The United States is the primary beneficiary of sanctions on Russian and Venezuelan oil. American oil exports have set five new monthly records since Western...
Tag: oil production
OPEC+ extends oil supply cuts
OPEC+ has extended its oil supply cuts until mid-year to avoid a global surplus and support prices. The restrictions, totalling around 2 million barrels per...
The Boom in Oil Drilling in Russia Proves Moscow’s Resilience to Sanctions
Russia experienced a second year of record oil drilling in 2023, providing further evidence of the country’s resilience in the face of Western sanctions.The surge...
Oil in 2024
Despite constant bearish talk about energy demand, global oil consumption increased by 2.3 million barrels per day in 2023. The final stage of the post-Covid-19...