International

Russia’s Oil Products still Evade Price Cap

The price cap on Russian crude oil products isn’t as effective as the implementers intended, according to Bloomberg, citing Argus Media Ltd data. Several of Russia’s refined oil products continue to trade above the capped price laid out by the G7 as the nation continues to defy Western sanctions. Diesel …

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Saudi Aramco Subsidiary Sees Profits Climb in Q2

Luberef, a subsidiary of Saudi Aramco, reported a 3.9% higher profit for the second quarter of the year despite a sizeable decline in revenues. The company, which reported the figures in a statement for the Saudi stock exchange, attributed the increase in profit to tax adjustments that reduced its expenses …

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