Tag Archives: Oil Price

Global electric vehicle sales grew by 15% in August from a year earlier, slower than the 27% growth rate in January-July, as EV sales in the biggest market, China, increased by only 6%, data from EV research firm Rho Motion showed on Friday. China continues to be the world’s biggest …

Turkey’s state gas company BOTAS has locked in 15 billion cubic metres of liquefied natural gas (LNG) through new contracts with eight global suppliers, in a concerted effort to expand its energy portfolio and curb dependence on pipelines from Russia, Azerbaijan and Iran. Announced at the Gastech 2025 conference in …

Crude oil inventories in the United States increased by 3.9 million barrels during the week ending September 5, after falling 2.4 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 424.6 million barrels …

Saudi Aramco, the world’s biggest crude oil exporter and the Saudi state-owned oil giant, is back tapping the debt markets this year with an offering of dollar-denominated Islamic bonds, Bloomberg reported on Wednesday, citing a source with knowledge of the plans. Aramco is said to be offering Islamic bonds, the …

Saudi Arabia has once again reduced the price of crude oil it sells to Asia, with the premium for the flagship Arab Light at $2.20 a barrel over the Dubai/Oman benchmark for cargos to be delivered in October. The price cut amounts to $1 per barrel from September, which was …

Reports are circulating in Armenia that a US delegation will soon travel to Yerevan to work out the details of a transit corridor that is a key element of the provisional Armenian-Azerbaijani peace deal brokered by US President Donald Trump. Armenian news accounts, citing “well-informed government sources,” say the US …

The EU is weighing options to impose fresh sanctions on Russia’s oil industry and exports by sanctioning major energy firms and erecting more barriers to Russian oil trade, sources with knowledge of the plans told Bloomberg on Monday. EU officials are set to travel to Washington this week to discuss …

Japan has reportedly tapped global consultancy Wood Mackenzie to study the long-proposed Alaska LNG pipeline and export terminal, signaling Tokyo is taking a closer look at whether to back a $44 billion megaproject long championed by Washington. Two sources with direct knowledge told Reuters the assessment aims to reassure wary …

Kurdistan has lost some $28 billion from a dispute between the government of the semi-autonomous region, the central Iraqi government, and Turkey that has been running for over two years now. “From March 25, 2023, until now, Iraq and the Kurdistan Region have suffered losses of more than 28bn dollars …

Oil prices rose on Monday despite OPEC+ confirming at its Sunday meeting that it will wind down more than 1 million barrels per day of extra voluntary cuts over the next two months. At 9:34 a.m. ET on Monday, West Texas Intermediate (WTI) was trading up 1.65% at $62.89 per …