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Oil production test looms for OPEC heavyweights Saudi Arabia, UAE | Hellenic Shipping News Worldwide

Saudi Arabia and the UAE have starring roles to play in the oil market this summer, as the only producers in the world holding any significant spare output capacity. But much of it is from untested fields, and as the core OPEC members face increasing pressure to tame the oil price rally, ahead of a ...
Ash Sharqiyah Saudi Arabia Abu Dhabi Abuz Aby United Arab Emirates Umm Shaif

With record pump prices, Biden hard-pressed to ramp up Russia sanctions | Hellenic Shipping News Worldwide

As the Biden administration contemplates expanding punitive measures on Russia for its invasion of Ukraine, a big hurdle lies closer to home: the American consumer. U.S. drivers are embarking on summer vacations with gasoline prices averaging more than $5 a gallon for the first time ever. And rising oil and natural gas prices are helping ...
United States Raymond James Pavel Mulchanov Barack Obama Timothy Gardner Richard Valdmanis

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