Forecast calls for a strong recovery in crude oil demand
Thanks mainly to China finally emerging from its Covid-19 lockdowns
Thanks mainly to China finally emerging from its Covid-19 lockdowns
But Russia is still taking in €640 million a day from the sale of fossil fuels
DOE announcement to back away from any crude purchases for February is a warning sign
The price of oil could end up anywhere between US$70 to US$121
Could reduce its daily oil output by as much as seven per cent over the next few weeks
But at least in the short term, Moscow may be able to ride off the challenge