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Idle Russian Supertanker Near China Sparks Demand and Sanctions Concerns
A Russian supertanker idles near China, signaling weak oil demand and highlighting risks tied to Russia’s shadow fleet and global energy sanctions.
Oil Prices Surge as U.S. Court Blocks Trump-Era Tariffs
Oil prices jumped after a U.S. federal court overturned former President Trump’s broad tariffs, boosting investor confidence and easing global trade tensions.
Russia’s Crude Export Revenues Slide to Two-Year Low Amid Falling Prices
Russia’s oil export revenues hit a two-year low in May as prices for Urals and ESPO grades fell sharply, tightening the Kremlin’s fiscal margins.
OPEC+ Eyes Long-Term Output Strategy with 2027 Production Baseline Talks Amid Phased Cuts
OPEC+ to review 2027 production baselines and raise output by 411,000 bpd in July. Royal Essence Petroleum weighs in on the global impact.