My discussion on Monday, June 15, with Andrei Bratucu from "Follow the Money", about what is happening in the crude oil market and how much hope we can have in the Memorandum of Understanding (MoU) signed by the Americans and Iranians. The prevailing feeling is that of caution / cautious optimism, given the lack of seriousness we have seen from the leader of the free world in the almost 4 months since the beginning of this conflict. The markets are reacting positively (the price went down, now being around $80/bbl of Brent). On the international market, the situation is greatly helped by China, which bought less crude oil in May. Compared to the first 3 months of 2026, when China's imports were at 11.8 Mb/day, in May the imports fell below 8 Mb/day, which took the pressure off the price at international quotations. In the Romanian market, the element of novelty in the last 2 months is given by the competition between Petrom and Rompetrol to offer the best (low) price. The position of the most advantageous price was occupied by Petrom for a long time, but in the last period it is increasingly contested by Rompetrol, which owns the largest refinery in Romania.
Read more »we do things differently
ROEC functions as a nexus between three “epistemic communities”: business, policy makers and academia