- July 26th, 2024
Saudi Arabia, the world's third-highest crude oil and condensate producer, is a key member of OPEC+. In October 2022, the country agreed to crude oil production cuts to balance the global oil market and hedge against the downside risks of...
Fifty years ago, Saudi King Faisal and other Arab leaders launched an oil embargo in 1973 as a payback for Washington's support for Israel in its war with Egypt and Syria. The embargo arose from a pact between Faisal and...
Kuwaiti crude oil prices rose by US$1.83 to trade at US$79.26 per barrel (PB) during Thursday's trading session, as against US$77.43 per barrel last Wednesday, according to Kuwait Petroleum Corporation (KPC). said on Friday. In international markets, Brent crude was...
The government has announced measures to improve supply of petroleum products during rapid shutdown of industries in Pakistan. Under this, the intention has been expressed to stop the hoarding of these substances. The Oil Companies Advisory Council (OCAC), an organization...
MOSCOW Russia Bans Oil Exports: Russian President Vladimir Putin has once again proved come what may, he will never bow down to Europe. This new decision of the Russian President is a big blow to the European Union (EU). If...