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Analysis: Russia's G7 oil price ceiling moves from revenue squeeze to market anchor

Analysis: Russia’s G7 oil price ceiling moves from revenue squeeze to market anchor

WASHINGTON, Dec 6 (Reuters) – When U.S. officials first floated the idea of ​​capping Russian oil export prices in response to a planned European embargo in March, they pledged to cut revenue of the Russian war machine, while avoiding a devastating spike in oil prices. But keeping Russian oil on the market and global prices …

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'We are not your enemy,' say South Korean truckers striking for minimum wage protection

‘We are not your enemy,’ say South Korean truckers striking for minimum wage protection

UIWANG, South Korea, Dec 5 (Reuters) – Inside five white tents outside the Uiwang container depot near Seoul, about 200 striking truckers huddle around gas heaters, trying to fight against the freezing cold and the government’s talk that they are well paid “labour aristocracy.” They are only too aware of the impact their strike has …

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Chevron expects Venezuelan oil shipments, but PDVSA wants payments

Chevron expects Venezuelan oil shipments, but PDVSA wants payments

HOUSTON, Nov 28 (Reuters) – Chevron Corp (CVX.N) aims to start receiving shipments of Venezuelan oil as early as December after the oil company last week received a U.S. license to do so, but Caracas is unable to -be not as impatient as the United States. the sanctions restrict payments, people familiar with the matter …

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Global oil market signals near-term weakness ahead of EU embargo on Russian oil

Global oil market signals near-term weakness ahead of EU embargo on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift as traders and analysts worry about falling demand for crude and a surplus market in the coming months. After months of strength, crude futures are flirting with all-year lows as major oil consumer China enters additional COVID-19-related lockdowns while central …

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Chevron can resume a key role in Venezuela's oil production and exports

Chevron can resume a key role in Venezuela’s oil production and exports

WASHINGTON/HOUSTON, Nov 26 (Reuters) – Chevron Corp on Saturday received a U.S. license allowing the second-biggest U.S. oil company to expand production in Venezuela and ship crude oil from the South American country to the United States . The ruling grants broader rights to the last major US oil company still operating in US-sanctioned Venezuela. …

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US ready to allow Chevron to increase oil production in Venezuela

US ready to allow Chevron to increase oil production in Venezuela

US ready to allow oil giant to produce and sell Venezuelan oil Chevron owes billions in unpaid debt to state-owned PDVSA US aims to transfer Venezuelan oil sales from shadow companies HOUSTON, Nov 23 (Reuters) – Chevron Corp could soon win U.S. approval to expand operations in Venezuela and resume trading in its oil once …

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Qatar strikes 27-year LNG deal with China as competition intensifies

Qatar strikes 27-year LNG deal with China as competition intensifies

Talks with other Chinese and European buyers underway -Kaabi Says buyers can take up to 5% stake in expansion Agreement indicates importance of long-term secure supply DOHA, Nov 21 (Reuters) – QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas in the longest LNG deal to date as volatility drives …

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The Fed will raise rates by 50 basis points, but the key rate could be higher

The Fed will raise rates by 50 basis points, but the key rate could be higher

BENGALURU, Nov 18 (Reuters) – The Federal Reserve will downgrade in December to propose a 50 basis point interest rate hike, but economists polled by Reuters say a longer period of U.S. central bank tightening and a higher policy rate peak are the biggest risks to the current outlook. U.S. consumer price inflation unexpectedly fell …

The Fed will raise rates by 50 basis points, but the key rate could be higher Read More »