Global oil market signals short-term weakness ahead of EU ban on Russian oil

Global oil market signals short-term weakness ahead of EU ban on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift, as traders and analysts worry about reduced crude demand and an oversupplied market in the coming months. After months of strength, crude futures are flirting with lows not seen all year as top oil consumer China enters additional COVID-19 lockdowns … Read more

Cuba wins China debt relief, new funds

Cuba wins China debt relief, new funds

HAVANA, Nov 27 (Reuters) – China has agreed to restructure Cuban debt and provide new trade and investment credits to the beleaguered Caribbean Island nation after a meeting in Peking between the two Communist countries’ leaders. Cuba Economy Minister Alejandro Gil said the latter had also donated $100 million to help the country cope with … Read more

Kremlin defends Russian-led security alliance after Armenia criticism

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Nov 27 (Reuters) – Kremlin spokesman Dmitry Peskov on Sunday said attempts to break up a Russian-led security alliance had always existed and would continue to do so, but insisted that the alliance remained in high demand … Read more

Canada launches new Indo-Pacific strategy, focus on ‘disruptive’ China

OTTAWA, Nov 27 (Reuters) – Canada launched its long-awaited Indo-Pacific strategy on Sunday, vowing more resources to deal with a “disruptive” China while working with the world’s second-biggest economy on climate change and trade issues. The 26-page document outlined C$2.6 billion ($1.9 billion) spending, including to boost Canada’s military presence and cyber security in the … Read more

Venezuela’s frozen funds to be gradually released for humanitarian aid

MEXICO CITY, Nov 26 (Reuters) – Venezuela’s government and opposition have asked the United Nations to manage a fund for trillions of dollars now held in foreign banks, which will be gradually unfrozen to combat a humanitarian crisis in the oil-rich nation, delegates announced in Mexico City on Saturday. Sources told Reuters last month the … Read more

Exclusive: Poland seeking German support to sanction Russian Druzhba oil pipeline

WARSAW, Nov 25 (Reuters) – Poland is seeking German support to slap EU sanctions on the Polish-German section of the Druzhba crude pipeline so Warsaw can abandon a deal to buy Russian oil next year without paying penalties, two sources familiar with the talks said. The sources also said the pair were nearing an agreement … Read more

US bans Huawei, ZTE equipment sales citing national security risk

Nov 25 (Reuters) – The Biden administration has banned approvals of new telecommunications equipment from China’s Huawei Technologies (HWT.UL) and ZTE (000063.SZ) because they pose “an unacceptable risk” to US national security. The US Federal Communications Commission said on Friday it had adopted the final rules, which also bar the sale or import of equipment … Read more

Putin discusses West’s oil price cap with Iraqi leader – Kremlin

Nov 24 (Reuters) – Russian President Vladimir Putin on Thursday discussed Western attempts to cap the price of Russian oil during a phone call with Mohammed Shia al-Sudani, the new Iraqi prime minister, the Kremlin said in a readout of the call. It said Putin had told Sudani that a price cap would have serious … Read more

Exclusive: Russians, Ukrainians met in UAE to discuss prisoner swap, ammonia, sources say

RIYADH, Nov 24 (Reuters) – Representatives from Russia and Ukraine met in the United Arab Emirates last week to discuss the possibility of a prisoner-of-war swap that would be linked to a resumption of Russian ammonia exports, which go to Asia and Africa, via a Ukrainian pipeline, three sources with knowledge of the meeting said. … Read more

US prepared to authorize Chevron to boost Venezuela’s oil output

US ready to allow oil giant to produce, sell Venezuelan oil Chevron is owed billions in unpaid debts by state-run PDVSA US aims to shift Venezuelan oil sales from shadow firms HOUSTON, Nov 23 (Reuters) – Chevron Corp could soon win US approval to expand operations in Venezuela and resume trading its oil once the … Read more