The Russian government is considering a possible gasoline export ban to prevent domestic fuel shortages and price increases after a decision to reduce subsidies for refineries, industry and government sources told Reuters on Tuesday.
The U.S. on Tuesday renewed for six months a license authorizing a group of U.S. oil service companies to preserve assets in Venezuela, keeping long-standing restrictions that prevent them from drilling, processing or handling any Venezuela-origin barrel of oil.
Nigeria's Dangote Petroleum Refinery will be commissioned on Monday amid hopes of an end to the country's recurring fuel shortages, but a lack of crude supply poses a major risk to it achieving full production.
OPEC Secretary General Haitham Al Ghais said on Monday that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth.
Oil prices fell in early Asian trade on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging nearly 3% in the previous session on optimism over U.S. fuel demand.