Oil News: Weekly Crude Analysis Points to Oversupply Risks as Traders Keep an Eye on OPEC
The market needs to break above the 52-week moving average at $62.06 and the long-term pivot at $63.59 to trigger an acceleration to the upside. IEA projects that global production will increase by 3.1 million barrels per day in 2025 and by another 2.5 million barrels a day in 2026. U.S. commercial crude oil inventories rose by 2.8 million barrels …
The community club announces measures to boost its competitiveness and strengthen its defense, but fails to take action. The community bloc is moving towards a “Europe first” scheme that gives priority to European products, but without daring to launch against Washington or China. Europe cannot shake off the vassal uniform. The arrival of Donald Trump has dismantled the EU.
Turkish FM in Iran says Israel biggest threat to region
Hakan Fidan was in Tehran on Sunday for a meeting with his counterpart Abbas Araghchi. They discussed the need to boost cooperation between Türkiye and Iran in trade, energy and regional security. Fidan reaffirmed Ankara's support for Tehran during ongoing nuclear negotiations and called for the lifting of sanctions.
The West is losing the arms race and wants to punish Moscow for its role in the Ukraine conflict, Russian Foreign Minister Sergey Lavrov has said. Russian weapons have earned a reputation as reliable tools for states that want to protect their sovereignty and resist external interference. Russia has been exporting weaponry for centuries. African countries are more open to …
Kaja Kallas: “We should stop pretending that Russia is negotiating peace and force it to do so”
Kaja Kallas is the head of community diplomacy at the European Commission. She is skeptical about the peace plans for Ukraine negotiated by the EU. Kallas's grandmother and mother were deported to Siberia by the Soviet Union in 1949. Russia has attacked more than 19 countries in the last 100 years. Oil sanctions are having a major impact on Russia's …
The current phase of the war between Russia and Ukraine has a hybrid intensity that directly affects the whole of Europe. Cyberattacks, drone overflights, underwater cable cuts, dangerous naval and air maneuvers at the limits of European waters and skies, provoked migratory movements, disinformation operations and interference in elections are affecting neighboring countries. Moscow's strategy seeks to weaken the countries …
Türkiye worried over attacks on tankers off Black Sea coast
Ukraine used naval drones to attack two Russian oil tankers off Türkiye's Black Sea coast on Friday afternoon. The Kairos and Virat vessels are part of a fleet used to evade sanctions imposed on Russia following its 2022 invasion of Ukraine. The Turkish Foreign Ministry is trying to prevent the spread of the war in Ukraine across the Black Sea …
Viktor Orban accuses the West of fueling the conflict between Ukraine and Russia. He met with Russian President Vladimir Putin in Moscow to discuss Ukraine, trade and energy. Orban's government has refused to provide weapons or troops to Ukraine and has repeatedly urged for a ceasefire.
Ex‑Soviet country slams Ukrainian attack on global oil hub
Kazakhstan's Foreign Ministry has condemned Kiev's drone strike on the Caspian Pipeline Consortium near Novorossiysk, Russia. The attack on the CPC marine terminal on Saturday damaged one of its berths beyond repair and forced an immediate halt to cargo operations. Ukraine has intensified its strikes on Russian oil infrastructure including refineries, pipelines, and terminals in an effort to disrupt Moscow's …