International

Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the UN Food and Agriculture Organization said Friday. …

For years, climate experts have been begging the world’s biggest economies to wean themselves off of fossil fuels. Instead, coal use is at an all time high, hitting a brand new record of 8.3 billion metric tons in 2022, up 3.3% from the prior year, according to figures from the …

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 …

China’s overseas energy engagement in Belt and Road Initiative (BRI) countries in the first half of 2023 was the “greenest” in terms of project type since its start, according to new research published on Tuesday. According the report from the Green Finance and Development Centre (GFDC) at Fudan University in …

India’s imports of Russian oil dropped for a second month and are expected to slip even further as the key OPEC+ producer starts trimming exports in August to help balance the global market. Daily volumes fell to 2.09 million barrels last month, down from 2.11 million barrels a day in …

Saudi Arabia’s economy slowed in the second quarter as oil-production cuts and a drop in prices pushed the country from being one of the fastest-growing Group of 20 countries to one of the slowest. Gross domestic product expanded 1.1% on an annual basis, according to preliminary data released by the …

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 …

As the electric vehicles (EV) car market booms, automakers are looking to expand their ranges to include electric trucks. Consumer interest in electric trucks has been about as strong as the offering, limited due to the low distance range and long recharging times involved. However, several car manufacturers now have …

Russian President Vladimir Putin said the proposed “gas hub” in Türkiye is still on the agenda. He noted that Moscow wants to set up an electronic platform for gas sales in Turkey, and they do not want to store gas there. Last year, Putin proposed the idea of creating a …

Global crude oil prices witnessed significant gains, driven by a scarcity of supply following cuts by Saudi Arabia and OPEC countries. Basra crude increases in its last session on Friday, contributing to a bullish trend in the market. The Basra Heavy crude closed at $81.79 per barrel in its last …