Russia's Deputy PM Novak says we are ready to increase oil supplies to China and India in case of additional demand
Newsquawk Staff ·
Russia's Deputy PM Novak says we are ready to increase oil supplies to China and India in case of additional demand.
What it means
Russia's Deputy PM Novak's statement about increasing oil supplies to China and India suggests readiness to respond to potential demand shifts, which can affect global oil prices. This move may indicate a strategic pivot to strengthen ties with these markets amid ongoing geopolitical tensions and EU sanctions, likely keeping upward pressure on WTI prices if demand increases significantly.
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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