OIL PRICE: BRENT NEAR $112, WTI ABOVE $106
Vladimir Vinogradov
WOGNEWS.NET, Global Energy Market Climate Changes News. Новости мирового энергетического рынка, изменений климата.
Brent were up 27 cents, or 0.2%, at $111.97 a barrel. WTI rose 20 cents, or 0.2%, to $107.15 a barrel.
China's economy slowed in March as consumption, real estate and exports were hit hard, taking the shine off faster-than-expected first-quarter growth numbers and worsening an outlook already weakened by COVID-19 curbs and the Ukraine war.
The country refined 2% less oil in March than a year earlier, with throughput falling to its lowest level since October as a surge in crude prices squeezed margins and tight lockdowns hurt fuel consumption.?
EU governments said last week the bloc's executive was drafting proposals to ban Russian crude, but diplomats said Germany was not actively supporting an immediate embargo.
The International Energy Agency had warned that roughly 3 million barrels per day (bpd) of Russian oil could be shut in from May onwards due to sanctions, or buyers voluntarily shunning Russian cargoes.