Russia and China once again drive the price of oil

Russia and China to drive the price of oil in coming week

Oil storage tanks at the Volodarskaya line operation dispatcher station, operated by Transneft PJSC, in Konstantinovo village, near Moscow. China and India continue to buy discounted Russian crude despite Western pressures. That, in turn, is reshaping the global flow of energy products and prices.

“Having said that, China will see a big surge in demand and that should keep global markets tight,” he said. Both China and India continued to draw on discounted Russian crude despite Western pressures. That, in turn, is reshaping the global flow of energy products and influencing price direction. “As with gasoline, price spikes in diesel can elevate crude prices, as refinery demand increases for crude,” said Jeff Mower, the director of oil news for the Americas at S&P.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

HoustonChron /  🏆 609. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China's finance minister, central-bank governor to attend debt roundtable in India, IMF saysChina's finance minister and its central bank governor will attend a roundtable with other creditors and some borrowing countries in February in India, IMF Managing Director Kristalina Georgieva said in a CBS' 60 Minutes interview on Sunday.
Read more »

Customs data reveals China is fueling Russia’s war in UkraineChina has sent been fueling Moscow’s war in Ukraine by sending fighter-jet components, navigational systems for military helicopters, and other technology since last year’s invasion, Ru…
Read more »

WSJ News Exclusive | China Aids Russia’s War in Ukraine, Trade Data ShowsDespite international sanctions, Chinese state-owned companies are shipping navigation equipment, jamming technology and fighter-jet parts to Russian government-owned companies, customs records show.
Read more »

Russian diesel: How will EU ban and West's price cap work?The EU is banning Russian refined oil products like diesel fuel and imposing a price cap on sales to non-Western countries. Here are some key facts about the sanctions:
Read more »

How will EU ban and West’s price cap on Russian diesel work?Europe is cutting more energy ties with Russia. It’s banning Russian refined oil products like diesel fuel, which comes along with a Western price cap. The goal is to stop feeding Russia&821…
Read more »