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The Latest Breaking News from Oil

US Intel Chief Thinking ‘Optimistically’ for Ukraine Forces

The head of US intelligence says fighting in Russia’s war in Ukraine is running at a “reduced tempo” and suggests Ukrainian forces could have brighter prospects in coming months. Avril Haines alluded to past allegations by some that Russian President Vladimir Putin’s advisers could be shielding him from bad news…

Asharq Al-Awsat

Russia’s war against Ukraine running at ‘reduced tempo’, US intelligence chief says

The head of US intelligence says Ukrainian forces may have the upper hand in coming months

The Independent UK

Iraq: OPEC Members Committed to Agreed Production Rates

Iraqi oil minister Hayan Abdel-Ghani stressed OPEC members are committed to the agreed production rates until the end of 2023, a ministry statement said on Saturday. Abdel-Ghani made these remarks during a ministerial meeting of the member states of the Organization of the Petroleum Exporting Countries (OPEC) via video conference.

Asharq Al-Awsat

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US intel chief thinking 'optimistically' for Ukraine forces

The head of U.S. intelligence says Russia’s war against Ukraine is running at a “reduced tempo” and suggests Ukrainian forces may have the upper hand in coming months

The Independent UK

Public support in Russia for military campaign ‘falling significantly’, says UK – as it happened

British ministry of defence says it obtained official confidential survey that shows only 25% of Russians want war to go on

The Guardian - AU

OPEC+ agrees to maintain current output levels amid uncertainty

The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. Follow our blog to see how the…

France 24

Saudi Aramco’s Luberef Expects to Raise up to $1.32 Bln from IPO

Saudi oil giant Aramco's base oil subsidiary Luberef expects to raise up to 4.95 billion riyals ($1.32 billion) from its initial public offering, it said, if it prices at the top of a range announced on Sunday. Luberef will sell nearly 30% of the company's issued share capital, or 50.045…

Asharq Al-Awsat

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Russia-Ukraine war at a glance: what we know on day 284 of the invasion

UK says support within Russia for military action is waning; US intelligence chief says Putin ‘more informed’ about reality of challenges on the ground

The Guardian - AU

Purdue vs. Michigan, live stream, preview, TV channel, time, how to watch Big Ten Championship

The Purdue Boilermakers will meet the Michigan Wolverines in the Big Ten Championship game on Saturday night from Lucas Oil Stadium.

USA Today Sports Media Group

Ukraine war: West’s Russian oil cap ‘weak,’ Zelensky says

The measure is aimed to reduce Russia’s income from selling oil

The Independent UK

Russia rejects $60 oil price cap, warns of response

Ukraine’s Western allies approve oil price cap to starve Russia of revenues as Kyiv pushes for a lower cap of $30.

Al Jazeera

Just Stop Oil activists occupy beds in Harrods in protest against fuel poverty

Protesters take to luxury beds and sofas in London store to call for action on ‘sky-rocketing’ energy bills

The Guardian - UK

Harrods comes under siege as protestors hijack bed and sofa displays

Just Stop Oil activists got into a bed and laid on sofas in the Harrods department store, in Knightsbridge, London, before being escorted out by a reported 20 security guards

Daily Mirror

Brendan Hughes: DUP with egg on their face once again after falling for Tory promises

But there are no guarantees energy payments would have been delivered any quicker if an Executive had been up and running

Belfast Live

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Belfast Live

Belfast City Council's diesel fleet will soon be powered by vegetable oil

It is estimated that running vehicles with HVO reduces their fuel-related C02 emissions by up to 90%

The Guardian - AU

Russia-Ukraine war at a glance: what we know on day 283 of the invasion

The Kremlin says US refusal to recognise Moscow’s annexed territories in Ukraine is hindering any potential settlement and EU members agree on Russia oil price cap

The Independent UK

Ukraine urges tougher Western squeeze on Russian oil prices

The office of Ukrainian President Volodymyr Zelenskyy is calling for a lower price cap on Russian oil than the one agreed to by Ukraine's Western supporters

The Guardian - UK

Homemade Christmas gifts that show you care without breaking the bank

Spending your time being creative can be more rewarding for you and your loved ones

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Asharq Al-Awsat

Russia: Price Cap is 'Dangerous' and Will Not Curb Demand for Our Oil

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports. A coalition of Western countries led by the G7 group of nations agreed on Friday to cap…

Evening Standard

UK and allies announce cap on Russian oil ‘to clamp down on Putin’s funding streams’

The cap is designed to curb Russia’s revenues from oil without halting significant volumes of exports, which could lead to supply shortages and push up prices globally

Asharq Al-Awsat

Huge Revenues Push Houthis to Tighten Grip Over Yemeni Institutions

The huge revenues of several Yemeni institutions prompted the Houthi militia to implement new administrative and financial measures to control and manage the profit in their favor. The new measures introduced e-accounting systems and complex administrative control procedures, dismissed the head of these institutions, and replaced them with group members.…

Bangkok Post

Russia decries 'dangerous' oil price cap

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a “dangerous” attempt by Western governments to introduce a price cap on its crude exports.

Asharq Al-Awsat

EU Agrees to Cap Russian Oil at $60 per Barrel

European countries agreed to cap Russian oil price at $60 per barrel to further weaken Moscow's ability to finance its war in Ukraine.

Asharq Al-Awsat

Iran Oil Cargo Previously Seized by US Unloads in Syria

An Iranian-flagged tanker on Friday delivered an oil shipment to Syria, which the United States had previously confiscated around Greece, ending months of uncertainty about the cargo, a ship tracker said. The seizure from the Lana, formerly the Pegas, prompted Iranian forces in May to seize two Greek tankers in…

Reuters

Russia says it won't accept oil price cap and is preparing response

Russia "will not accept" a price cap on its oil and is analysing how to respond, the Kremlin said in comments reported on Saturday, in response to a deal by Western powers aimed at limiting a key source of funding for its war in Ukraine.

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