South Sudan is experiencing a rapid drop in crude output as producing oil blocks have hit peaks and have begun to decline.
Oil prices rose on Wednesday, heading for monthly and quarterly gains, after U.S. crude stockpiles fell for a sixth straight week and an OPEC report foresaw an undersupplied market this year.
An AMF study suggests major changes in the economies of Arab oil-exporting countries to be able to withstand the effects of low oil prices and sustain real GDP
ASX falls on first day of new financial year, Robinhood gets record fine for harming millions of customers
The Financial Industry Regulatory Authority (FINRA) ordered Robinhood to pay a record $US70 million ($93 million) to compensate millions of customers who received false and misleading information, were affected by systems outages, and thousands of customers who were approved to trade options even when it was not appropriate for them to do so.
New York (CNN Business)American drivers need OPEC and Russia to come to the rescue.
Oil futures ended with gains Wednesday, maintaining support after government data showed U.S. crude inventories fell for a sixth straight week and as traders awaited a decision by the Organization of the Petroleum Exporting Countries and their allies on whether to further relax output curbs beginning next month.
Oil futures were higher Wednesday, boosted by industry data showing a large fall in U.S. crude stockpiles as traders awaited a decision this week by the Organization of the Petroleum Exporting Countries and its allies on whether to further ease production curbs.
Ahead of a meeting of oil producers’ cartel OPEC, India on Tuesday said the current oil prices are “very challenging” and rates need to be a “bit sober” lest they impact a consumption-led recovery of the global economy.
Oil product stockpiles at the port of Fujairah on the UAE’s east coast climbed to a two-week high, led by a 34% increase in gasoline and other light distillates.
Turkey’s total oil imports increased by 21 percent to 3.57 million tonnes in April compared to the same month of 2020.