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2022-03-09 13:35:00

RUSSIAN OIL & EARNINGS UP

RUSSIAN OIL & EARNINGS UP

 

OIL Prices surged this Monday Globex Open after the 'embargo' declared during the weekend.
The effects of every $10 + oil price growth on the currency balance of countries in 2022 are as indicated below ;

# Saudi Arabia 3.25% +
#UAE 2.5% +
#Russia 1.5% +
#Nigeria 0.5% +

Despite the high discount on Russia's Ural oil premium and sanctions .It seems that the rise in oil prices will eventually lead to the growth of Russia's foreign exchange earnings in 2022 and the improvement of its foreign exchange reserves, which is contrary to the goals of Western sanctions and USA.

Every $ 10 rise in oil prices boosts Russia current account surplus by 1.5 percentage points. So the huge rise in oil prices due to Russia-Ukraine conflict.
The Bulls have shown significant strength during these volatile times especially after the break from the $90/bbl pricing on the BRENT Crude.
Despite the whipsaws and dehorning that's been facing the Bulls,the resilience is there within the Commodities market super cycle.
Nice trading week ahead from my desk,


Andy Warr,
TophatFinance.

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Earlier:

RUSSIAN OIL EARNINGS UP
2022, March, 4, 12:20:00
OIL PRICE: NEAR $110
Brent rose at $111.19, WTI rose $1.21, or 1.1%, to $108.88.
RUSSIAN OIL EARNINGS UP
2022, March, 4, 12:15:00
RUSSIA AND SAUDI ARABIA ENSURE STABILITY
During the conversation, it was noted with satisfaction that OPEC+ member countries are consistently fulfilling their obligations to help ensure stability on the global oil market. Russia and Saudi Arabia will continue to coordinate approaches within this format.
RUSSIAN OIL EARNINGS UP
2022, March, 4, 12:10:00
OIL: RELEASE OF 60 MB
he initial release of 60 mbl accounts for 4% of those stockpiles (1.5 Gbl) and would represent 2 mbl/d for 30 days
RUSSIAN OIL EARNINGS UP
2022, March, 3, 14:35:00
ОПЕК+ 400 ТБД
Страны-участницы единогласно приняли решение сохранить договорённости о продолжении увеличения добычи на суммарно 400 тыс. баррелей в сутки в апреле 2022 года.
RUSSIAN OIL EARNINGS UP
2022, March, 3, 14:30:00
OPEC+ 0.4 MBD
Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of April 2022, as per the attached schedule.
RUSSIAN OIL EARNINGS UP
2022, February, 21, 11:50:00
GLOBAL ENERGY CRISIS & STABILISATION
In the situation that has obtained in recent months on energy markets, it has become clear that one of the foundations of stability of the modern global world is, in the first instance, reliable energy supply, which cannot be provided without observing a reasonable balance of energy sources and an absence of discrimination against traditional sectors of the fuel and energy complex.
RUSSIAN OIL EARNINGS UP
2022, February, 9, 12:25:00
OIL PRICES 2022-23: $87-$68
This dynamic leads to rising global oil inventories from 2Q22 through the end of 2023, and the Brent spot price will fall to an average of $87/b in 2Q22 and $75/b in 4Q22. The Brent price will average $68/b for all of 2023.
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Tags: RUSSIA, OIL, PRICE, PRODUCTION