SHOTLIST: NEW YORK, US (MARCH 8, 2022) (ANADOLU – ACCESS ALL) (FILE FOOTAGE) 1. VARIOUS OF DRONE SHOTS SHOWING PHILIPS 66 OIL REFINERY NEW YORK, US (MARCH 8, 2022) (ANADOLU – ACCESS ALL) (FILE FOOTAGE) 2. VARIOUS OF DRONE SHOTS SHOWING PHILIPS 66 OIL REFINERY ELMET, TATARSTAN (2023) (ANADOLU – ACCESS ALL) (FILE FOOTAGE) 3. VARIOUS OF OIL WELLS AT TANEFT FIELDS 4. VARIOUS OF STAFF WORKING NEAR OIL WELLS 5. VARIOUS OF OIL WELLS LONDON, UK (JUNE 10, 2025) (ANADOLU - ACCESS ALL) 6. VARIOUS OF PEOPLE IN FRONT OF BUILDING STANDING/ TALKING/ MAN CARRYING BOXES 7. VARIOUS OF VEHICLES AROUND BUILDING 8. OFFICIALS LEAVING BUILDING (TWO SHOTS) 9. POLICE MOTORCYCLES MOVING ON STREET 10. POLICE MOTORCYCLES IN YARD 11. VEHICLES ENTERING BUILDING'S YARDUS - TATARSTAN - UK - 2022-2025 - FILE FOOTAGE: Oil prices increased on Monday, driven by growing expectations that the US Federal Reserve (Fed) may cut interest rates in September, amid signs of a softening labor market in the United States. International benchmark Brent crude was trading at $69.48 per barrel at 10.50 a.m. local time (0750GMT), up 0.30% from the previous session’s close of $69.27. American benchmark West Texas Intermediate (WTI) crude rose 1.86% to $66.77 per barrel, from $65.55 in the previous session. - Fed signals possible monetary easing Markets were buoyed by comments from San Francisco Fed President Mary Daly, who said the time for rate cuts is approaching, citing mounting evidence of a weakening US labor market and the absence of persistent inflationary pressures, including from tariffs. Analysts noted that a potential rate cut could weaken the US dollar, bolster investor sentiment, and support global energy demand by encouraging economic activity. However, concerns are also mounting that faster-than-expected rate cuts by the Fed could further fuel inflationary pressures. The employment report released on August 1, while not signaling a recession, showed that companies are seeking more certainty regarding economic policies. This has reinforced expectations of a Fed rate cut and reflected some of Fed Chair Jerome Powell's earlier warnings that tariffs could slow down the economy and create too much uncertainty for small businesses’ hiring plans. Meanwhile, Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, announced on August 3 that eight member countries will raise oil output by a combined 547,000 barrels per day in September compared to August, as part of efforts to regain global market share. Despite a weak demand outlook, the OPEC+ group's decision to implement another large production increase and the failure of US policies to significantly curb Russian oil trade have further stoked concerns over a supply surplus. However, these developments were not enough to limit the rise in prices. The decision was said to be based on low inventory levels and robust economic data. While the move raises the risk of oversupply in the markets, it has also put a cap on price gains. Geopolitical developments continue to weigh on markets. US President Donald Trump stated that India is not only purchasing large volumes of Russian oil but also reselling much of it at high profit margins. Trump announced plans to "significantly" increase tariffs on India in response. In a social media post, Trump wrote, "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine." "Because of this, I will be substantially raising the Tariff paid by India to the USA," he added.