News & Information
Vienna: Saudi Arabia has decided to cut oil production, and OPEC cuts have been extended until 2024. Reuters Saudi Arabia has committed to major oil cuts in July to boost…
Production cuts may be extended if necessary, Saudi Arabia: Photo: File Vienna: Saudi Arabia has announced to cut oil production in July to boost prices. An agreement was reached in…
Josep Borrell, file photo EU foreign affairs chief Josep Borrell says that if India buys cheap oil from Russia and supplies it to Europe after refining it, it could be…
Iran seized an oil tanker in the Strait of Hormuz. The US Navy says that Iran’s Revolutionary Guards seized a Panamanian-flagged oil tanker in the middle of the Strait of…
Iran seizes Marshall Islands oil tanker in Gulf of Oman According to the US Navy, the Iranian Navy has seized an oil tanker off the Marshall Islands. The US Navy…
Pakistan signed an agreement to buy cheap petrol from Russia; Photo: File Washington: The spokesperson of the US Ministry of Foreign Affairs has said that Pakistan is not opposed to…
Saudi Arabia has decided that it is going to cut oil production by 500,000 barrels per day from May. According to the foreign news agency, this cut of oil production…
U.S. West Texas Intermediate crude futures were down $1.61 at $66.74 a barrel. Photo: File Lahore: Crude oil prices in the global market fell to $48 per barrel, which is…
File photo Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has said that he will not sell oil to any country that imposes a price cap on our supplies. During…
Aramco, Saudi Arabia’s largest state-owned oil company, made a record $161 billion profit during the Russia-Ukraine war. According to Aramco, the publicly listed company has achieved historic profits in 2022.…