OPEC+ announced a surprise oil production cut on Sunday, ignoring previous assurances that it would hold supply steady to maintain a stable market. The reduction is slated to exceed… Read More
Riyadh, April 3 (IANS) Saudi Arabia's Energy Ministry has announced a voluntary oil cut of 500,000 barrels per day from May till the end of 2023.The production cut is in coordination with so… Read More
The move to cut 1.2 million barrels a day is an apparent effort to increase prices. Still, its significance may be slight, especially if the global economy slows.Source link Read More
Oil costs flooded as much as 8% at the open after OPEC+ declared it was cutting results by 1.16 million barrels daily.
On the news, Brent crude futures increased by 5.07 percent to $83.95 pe… Read More
...refuses to disclose exact spot of spill
The Kuwait Oil Company has declared a state of emergency following an oil spill in the west of the country. The company is state-owned by one of… Read More