oil

Demand for oil in the world is growing, but its production is also increasing, due to which the surplus of supply of “black gold” in 2025 will remain for the next two years, according to Logos Press.

For the second day in a row, oil futures on global markets rose amid uncertainty over oil supplies from Venezuela and over developments in Iran, Logos Press reported.

The US plans to make big changes to Venezuela’s oil industry. US President Donald Trump said that American oil companies will now be able to invest in Venezuela to “repair the badly damaged oil infrastructure and start making money for the country”, Logos Press reported, citing RBC.

US authorities are working on a large-scale plan to establish long-term control over Venezuela’s oil industry. This initiative will help drive oil prices down to $50 per barrel.

Eight oil-exporting countries that are members of OPEC+ (Russia, Saudi Arabia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman) have agreed to maintain stable production levels, Logos Press reported citing Reuters.

When forming its basic price estimates for the European market, the Platts price agency will gradually abandon the accounting of fuel from Russian oil, – reports Logos Press.

Investors and oil traders are closely watching negotiations on a peaceful resolution of the military conflict in Ukraine, which could lead to the lifting of sanctions on Russian oil and an increase in its supply to foreign markets, which could cause a sharp decline in the price of the commodity, Logos Press reported.

Profile committees of the European Parliament voted in favor of a complete ban on imports of Russian gas and oil from January 2026, tightening the initial position of the European Commission – reports Logos Press with reference to DW.

Romania’s Energy Ministry has declared a state of emergency due to the receipt of contaminated oil from Azerbaijan, Logos Press reported citing RBC.

All EU countries have tentatively approved a new package of restrictions against Russia, including Slovakia, Logos Press reported citing Reuters.