Tag: oil benchmarks

December 22, 2023 BY Elizabeth Anderson

Oil prices down by more than $1 after Angolan exit from OPEC

At a stage, brent crude was down 1.63% at $1.30 per barrel. US West Texas Intermediate crude clocked a 1.60% or $1.19 loss. Reportedly, in November, OPEC proposed cutting Angola’s 2024 production quota, which is approximately 1.1 million barrels per day. Reuters quoted a UBS analyst who commented: From an oil market supply perspective, the…

Read more
US oil index is prime
October 04, 2018 BY Valentina Kirilova

SPIMEX and S&P Global Platts team up to develop new oil benchmarks

Saint Petersburg International Mercantile Exchange (SPIMEX) and S&P Global Platts, a division of S&P Global, have announced that they have signed a memorandum of understanding (MoU) at the Russian Energy Week 2018, held in Moscow. Under its terms, the parties agree to work on the development of pricing mechanisms for exported Russian crude oil including…

Read more