Oil Price Touches One-Year High amid Production Cuts
Though Saudi Arabia and different OPEC gamers have probably determined to increase their oil manufacturing cuts by the tip of the yr, analysts imagine that this gained’t final lengthy. Oil….
Tag: Oil
Argentine Oil Giant Turns Gas Flares to Crypto Goldmine
Buenos Aires-based oil producer Tecpetrol has unveiled plans to mine cryptocurrencies utilizing related fuel from its oil fields close to Vaca Muerta. This initiative is ready to start between the….
Olive Oil Prices Spike to Record Highs amid Drought-Induced Supply Crisis
Equally, the worldwide rice market is at the moment below strain as China, the world’s high rice producer, offers with extreme rain and flood issues in its grain-producing north-eastern space…..
US Crude Oil Prices Cross $90 per Barrel for First Time in 10 Months
Costs of oil within the US hit a 10-month excessive as oil shortages are anticipated till the top of the yr following Russia and Saudi output cuts. In response to….
India Sidesteps Dollar, First Rupee Oil Trade Ahead of BRICS Summit
In keeping with latest reviews on August 14, India and the UAE have turned a brand new leaf of their buying and selling ties. Simply earlier than the much-anticipated BRICS….
World’s Largest Oil firm Saudi Aramco Reports 38% Drop in Q2 2023 Profits
Regardless of the income drop throughout the second quarter, Saudi Aramco declared a $19.5 billion dividend payout to shareholders. Oil big Saudi Aramco reported its Q2 numbers with 112.81 billion….
Goldman Sachs Predicts ATH Oil Demand, Causing Higher Prices
The Goldman Sachs head of oil analysis famous that crude oil manufacturing within the US had soared exponentially within the final twelve months. American funding banking firm Goldman Sachs (NYSE:….
Saudi Aramco Expects Strong Oil Demand from China and India despite Economic Downturn
The state-owned Aramco believes that the oil demand forecast for the remainder of 2023 is stable despite the fact that metrics level to a dwindling financial system. Saudi-owned oil and….
Oil Prices Soars Following Saudi Arabia’s Plan to Cut Oil Output
The importance of OPEC+ within the world oil market can’t be understated, because the alliance accounts for about 40% of the world’s crude oil manufacturing. The impression of Saudi Arabia’s….
OPEC+ Sticks to Oil Production Target despite Saudi Arabia’s Additional Voluntary Cuts
OPEC+ will proceed with its plan to chop down on manufacturing and scale back provide, however didn’t change its goal however additional cuts. The Group of the Petroleum Exporting Nations….