Oil posted its largest weekly gain in four months after Russia followed through on a threat to cut production in response to western energy sanctions.
Moscow says it will reduce output by half a million barrels, equivalent to about 5% of January levels. The cut was the first major effect on Russian production from the swath of sanctions that have been placed on the country's output, leading West Texas Intermediate to advance to just below $80.
This week's rally also got a boost from Saud ....
13 Feb 2023
Cenkos: Oil & Gas Sector --- Tethys Oil, Diversified Energy, 88 Energy, Deltic Energy, IOG, Serica Energy, TotalEnergies, Equinor, bp, Egdon Resources, Var Energi, Aker BP ASA, DNO ASA, Nostrum Oil & Gas
Falcon Oil & Gas Ltd. (FOG:LON), 6.8 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 8.9 | Diversified Energy Company PLC (DEC:LON), 1,082 | Empyrean Energy PLC (EME:LON), 0.5 | GETECH Group plc (GTC:LON), 8.2 | Trinity Exploration & Production Plc (TRIN:LON), 39.5 | Tethys Oil AB (TETY:OME), 0
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Cenkos: Oil & Gas Sector --- Tethys Oil, Diversified Energy, 88 Energy, Deltic Energy, IOG, Serica Energy, TotalEnergies, Equinor, bp, Egdon Resources, Var Energi, Aker BP ASA, DNO ASA, Nostrum Oil & Gas
Falcon Oil & Gas Ltd. (FOG:LON), 6.8 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 8.9 | Diversified Energy Company PLC (DEC:LON), 1,082 | Empyrean Energy PLC (EME:LON), 0.5 | GETECH Group plc (GTC:LON), 8.2 | Trinity Exploration & Production Plc (TRIN:LON), 39.5 | Tethys Oil AB (TETY:OME), 0
- Published:
13 Feb 2023 -
Author:
James McCormack -
Pages:
8
Oil posted its largest weekly gain in four months after Russia followed through on a threat to cut production in response to western energy sanctions.
Moscow says it will reduce output by half a million barrels, equivalent to about 5% of January levels. The cut was the first major effect on Russian production from the swath of sanctions that have been placed on the country's output, leading West Texas Intermediate to advance to just below $80.
This week's rally also got a boost from Saud ....