Russia’s state-backed gas supplier has lost a significant European contract, dealing a setback to Vladimir Putin’s war-driven economy.
Russian ruble continues to decline against the dollar
The Russian ruble extended its decline today, losing a quarter of its value since August. It now takes more than 113 rubles to purchase one U.S. dollar.
Global oil demand expected to lag behind supply in 2025, says IEA
According to the International Energy Agency (IEA), global oil demand is projected to grow at a slower rate next year due to weakening Chinese consumption.
Oil prices plummet amid predictions of a global surplus for next year.
Oil prices are headed for their sharpest daily decline in a year as the world faces a looming supply glut and reports suggest Israel will avoid targeting Iran’s crude facilities.
Oil is poised for its largest weekly decline in almost a year
Oil is on track for its most significant weekly decline in nearly a year, driven by concerns over weak demand and ample supply, despite Opec+ postponing a scheduled production increase
An investment bank predicts that oil prices could drop to $60 or even $50 per barrel by 2025.
Oil prices continued to decline on Wednesday, with forecasts suggesting an average of around $60 per barrel next year, and possibly even dipping to around $50, according to Citi.
Gazprom’s profits have surged threefold as it ramps up sales to China.
Gazprom, the Kremlin-owned gas giant, announced today that its profit for the first half of the year has more than tripled compared to the same period last year.
Rouble Falls to Three-Month Low Following Ukraine Attack
The rouble fell to its lowest level since late May after Kyiv launched its largest incursion into Russian territory since the war began in 2022.
Oil prices continued to rise on Monday morning
Oil prices continued to rise on Monday morning, as escalating tensions in the Middle East remained a significant concern for traders.
Apple removes 25 VPN apps from its online store in Russia.
Apple has removed 25 virtual private network (VPN) applications from its App Store in Russia, according to the Interfax news agency, as Moscow intensifies its crackdown on services that help
Gazprom’s gas production has significantly declined due to its inability to replace its European clients.
Russian energy giant Gazprom produced 13% less natural gas last year after failing to diversify its sales away from Europe following Russia’s invasion of Ukraine.
Russia’s Gazprom experiences significant downturn due to Ukraine war
Gazprom, the Kremlin-backed gas giant, is unlikely to recover the revenues lost due to Vladimir Putin’s war in Ukraine for at least a decade, according to a study reportedly commissioned