Russian oil exports significantly declined in November due to buyer caution over stricter US sanctions, leading to a substantial drop in Moscow's oil revenue. This fall, coupled with lower Urals crude prices, marked the lowest export revenues since the Ukraine conflict began. Global oil supply also»»»

Highlights Parallel markets Much has been made about the apparent disconnect between the current global oil surplus on the one hand and inventories near decade lows at key pricing hubs on the other. Indeed, despite record volumes of oil piling up on water, benchmark crude oil prices eased only marg»»»

Agencies The International Energy Agency trimmed its forecast of next year’s global oil supply glut for the first time since May on Thursday, flagging higher demand prospects due to a stronger world economy and lower supply from nations under sanctions. Oil prices have been under pressure for month»»»

LONDON: The International Energy Agency trimmed its forecast of next year’s global oil supply glut for the first time since May on Thursday, flagging higher demand prospects due to a stronger world economy and lower supply from nations under sanctions. Oil prices have been under pressure for months»»»