Oil rose above $100 a barrel in a volatile session on Wednesday, finding support from supply concerns and easing worries about slowing Chinese demand, while signs of progress in Russia-Ukraine peace talks limited gains.
Three million barrels per day of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the International Energy Agency (IEA) said on Wednesday, as sanctions bite and buyers hold off.
“These losses could deepen should bans or public censure accelerate,” the Paris-based IEA said in its report, which also cut its oil demand forecast for 2022.
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.