Oil

S&P 500 inches lower as OPEC move stokes inflation fears

Oil jumped roughly 6 per cent after Saudi Arabia and other crude-producing countries said over the weekend they would cut production

Petrodollar vs Petroyuan: Can China overthrow US in the global oil market?

China is the world’s biggest crude oil importer and is leveraging that position to make petroyuan the preferred choice for international trade. The move is aimed at denting the US dollar’s hegemony in the global market

Pak plans to procure Russian crude oil at $50 per barrel

As Pakistan continues to suffer from a severe shortage of foreign exchange reserves, any short or long-term deals with Russia to take crude and oil products at low prices would help reduce the nation's financial burden

Oil giant Saudi Aramco reports 46% jump in profits for 2022

The mostly state-owned energy giant, the world's second most valuable company behind Apple, said in a filing with the Saudi stock market that net income for 2022 was $161.07 billion, up from $110 billion in 2021

One year of Ukraine war: How Western sanctions haven't worked against Russia

Despite the sanctions on Russian oil and gas, the country's energy revenues increased to $168 billion for the year, the highest level since 2011. Russia finished the year with a record-high current account surplus of $227 billion (18.7 lakh crore)

Oil rises on China demand hopes, concerns on supply outlook

Russia plans to cut oil production by 500,000 bpd, or around 5 per cent of output, in March after the West imposed price caps on Russian oil and oil products

Russia bans oil exports for countries using price cap: Why Moscow made move, who will be affected?

While the G7, EU, and Australia will be affected by Russia’s ban if they adhere to the $60 per barrel price cap, experts say the move may benefit India and China – giving them further leverage to lower the price they pay for Moscow’s oil

Travelling to Qatar for FIFA World Cup 2022? A guide to the host country

Qatar, sharing a land border with Saudi Arabia, is all set to host FIFA World Cup 2022. Ahead of the tournament, here's a look at its history, politics and military

Russia becomes India's largest oil supplier, jumps from 0.2% in March to 22% of imports in October

Russia, which made up for just 0.2 per cent of all oil imported by India in the year to 31 March 2022, supplied 935,556 barrels per day of crude oil to India in October, the highest ever

US oil giants ExxonMobil, Chevron report huge profits in tight energy market

The results show how the surge in crude prices in the aftermath of Russia's invasion of Ukraine has boosted the industry by lifting crude prices, as well as natural gas prices due to Europe's mobilization to offset lost natural gas imports from Russia