Invesco Db Oil Fund ETF News

Half the volume will come from the United States.

Despite its status as the top global producer, the U.S. continues to purchase Russian crude to service more-isolated coastal markets and keep refineries running at optimal levels

The International Energy Agency has agreed to release a total of 60 million barrels of oil in a coordinated effort in response to Russia''s invasion of Ukraine, the agency said March 1.

Russia''s invasion of Ukraine sent oil prices soaring but OPEC+ is expected to keep its production increase steady when it meets Wednesday.

Stock futures point to a lower open with oil surging past $100 a barrel as Russia''s attack on Ukraine enters its sixth day, with Russia stepping up its offense.

The hikes were due to the surge in international oil prices

While the petrol tanks of most Nigerians might be running on ‘E’ (empty), their activities (during this era of fuel scarcity) on the other hand might just be fueling inflationary pressures in the near term. After a long, loud build-up, Nigerians’ intense reaction over the ongoing fuel scarcity got serious after a ‘war-torn’ week between Russia and Ukraine. If the government had hoped that a muted announcement would lead to a muted reaction, they were, to put it mildly, disappointed. The ongoing war between Russia and Ukraine may further prolong the over three-week scarcity of Premium Motor Spirit (PMS), popularly called petrol, as the bulk of the refined products coming into the country from the warring region and its adjoining areas are likely to face some delays. The current petrol debacle led to a more than doubling of fuel prices on Monday morning. This, in turn, has spurred an increase in transportation costs, reports say. Unsurprisingly, Nigerians are furious. This is because, for many of them, the current subsidy retainment represents one of the few tangible benefits they receive as citizens of Africa’s largest crude-oil producer.

Russia''s President Vladimir Putin held talks March 1 with Abu Dhabi''s Crown Prince Mohammed bin Zayed to discuss OPEC+ strategy a day ahead of the oil cartel meeting to decide output quotas as crude trades above $100/b against the backdrop of the Ukraine conflict. "The progress in implementing the OPEC+ agreement was discussed. The intention to continue coordination between the…

The European Parliament calls for new EU sanctions on Russia and restriction of oil and gas imports from this country, according to the draft resolution ''on Russia''s aggression against Ukraine'' to be put on the vote at an extraordinary session today.

(Reuters) – U.S. stock index futures slid on Tuesday, with banks stocks declining further as the Russia-Ukraine crisis deepened, while a rise in oil prices supported shares of energy companies.

Iraq''s federal crude exports, excluding flows from the semi-autonomous Kurdistan region, rose 3.5% in February from a month earlier, the oil ministry said March 1, amid a higher OPEC+ quota. Federal oil exports reached 3.314 million b/d in February, the ministry data showed, from 3.202 million b/d in January. Iraq''s OPEC+ quota in February was 4.325 million b/d, up from…

Canada is taking more action against Russia in response to its ongoing attack on Ukraine. Natural Resources Minister Jonathan Wilkinson says Canada wi…

European stock markets sagged and oil jumped back above $100 a barrel on Tuesday as markets struggled with massive uncertainty caused by Russia''s invasion of Ukraine, while the rouble recovered from a rout driven by Western sanctions.

Russia, one of the world’s top oil producers, exports around 4-5 million bbl/d of crude and another 2-3 million bbl/d of refined products. China, the EU, South Korea, India and Japan are its main buyers.

The Department for Business, Energy and Industrial Strategy said the average price of a litre of petrol at UK forecourts on Monday was 149.22p.