Other news

Oil production growth in leading U.S. oil-producing states has slowed. According to the latest survey by the Federal Reserve Bank of Dallas, the effects of inflation and supply chain problems, as well as overall economic uncertainty, have led executives to lower their expectations.

TASS reports that India has become the main consumer of RF oil. It happened after December 5, when the EC embargoed the sea transportation of oil from the RF.

Germany and Poland are about to halt purchasing Russian oil by the end of this year. In this way, Germany already plans to replace some amount of oil with supplies from Kazakhstan. Poland, however, is not in a hurry yet to make a final decision, at least for the next couple of months.

It is unlikely that gasoline prices in the United States will fall below $3 per gallon this year as oil drives gasoline prices up, as reported by an AAA spokesman.

Next year, according to hedge fund trader Pierre Andurand, the world oil demand at a certain moment will grow by 4% if all anti-COVID restrictions are removed.

Although China continues to fight a rapid surge in Covid-19 cases, economic activity in some cities slowly begins to recover.

As it was stated by the Federal Reserve Bank of Dallas representatives, prospects of further cost increase disturb top managers of U.S. shale companies while they are facing challenges with hiring and retaining workers.

It is reported that TC Energy managed to restart the Keystone oil pipeline three weeks after its shutdown.

Vice Prime Minister Alexander Novak stated that Russia is ready to support Kazakhstan's application for oil exports to Germany

Commodity bull super-cycle gives a positive outlook for commodities. As for the precious metals sector, which includes yellow metal, strategists at Wells Fargo adopt a neutral position on its dynamics.