International

Russia’s Oil Output Falters after Summer Rebound

Russian oil production fell in the first weeks of August, ending several months of recovery from Western sanctions imposed over Russia’s war in Ukraine, the Kommersant business daily reported Monday. Average daily production so far this month has fallen by 3% compared to July, totaling 1.428 million tons, the publication …

Read More »

Saudi Aramco Unveils Record $48.4b Profit in Q2

Oil giant Saudi Aramco on Sunday unveiled record profits of $48.4 billion in the second quarter of 2022, after Russia’s war in Ukraine and a post-pandemic surge in demand sent crude prices soaring. Net income leapt 90 percent year-on-year for the world’s biggest oil producer, which clocked its second straight …

Read More »