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U.S. Oil Boom Blunts OPEC's Pricing Power
U.S. petroleum production is on pace for a record-breaking year, helping to keep energy prices stable despite the efforts of Saudi Arabia and other major
Saudi Arabia, U.A.E. Scoop Up Russian Oil Products at Steep Discounts
Despite U.S. objections, the Gulf countries are using the Russian products internally, including for consumption and refining purposes, and exporting their own barrels at market
Saudi Arabia Transfers Nearly $78 Billion of Aramco Shares to Wealth Fund
The second such transfer comes amid high oil prices and as the kingdom seeks to diversify its economy away from oil. Source link
Saudi-Led Oil Cuts Risk Fueling Inflation and Harming Global Economy, IEA Says
Markets Commodities Oil Markets The hole in the global oil market between supply and demand is expected to reach 2 million barrels a day, the
Saudi-Led Oil Cuts Risk Fueling Inflation and Harming Global Economy, IEA Says
Markets Commodities Oil Markets The hole in the global oil market between supply and demand is expected to reach 2 million barrels a day, the
Exxon CEO's Pay Jumps 52% Amid Rising Oil Prices, Record Profit
Darren Woods’s total compensation includes stock awards of $24.9 million and a nearly $6.4 million bonus. Source link
Gold Prices Near Record as Investors Bet Inflation Is Here to Stay
Lower Treasury yields and a weaker dollar have also boosted the precious metal. Source link
Delta Reports Quarterly Loss, Projects Strong Summertime Travel
Business Earnings Airlines say travel appetite is holding up despite worries about inflation, layoffs Source link
Saudi Arabia-Led Oil Cuts Run Into Gusher of Alternative Supplies
The wild card for the market lies in players such as Nigeria where production has risen unexpectedly but is prone to outages. Source link
OPEC+ Cut Won't Throttle Chinese Oil Demand
The U.S. is looking shaky, but the world’s largest energy consumer is still in the early stages of its post-Covid recovery. Source link