President Biden is ready to use the strategic petroleum reserve again should the need arise, a reserve that the White House has been working on replenishing in recent months.
On being asked if the high government revenue collection seen in both direct and indirect tax provided scope to do away with the windfall tax, the official said:
The hike highlights Saudi Arabia’s efforts to keep the market tight amid fading war risk in the Middle East, which has helped drive oil prices in London lower.
Saudi Arabia’s oil giant has raised the official selling price of all grades of its exports to Asia, with Arab Light for delivery in June set to rise by $0.90.
Commodity analysts at Standard Chartered have argued that the demand pessimism is overblown, and that there appears to be a systemic downwards bias in the weekly estimates of U.S. fuel demand
ALBAWABA - Oil futures soared on Monday, as Saudi Arabia increases crude prices for June supply across the majority of locations, as Reuters reports, co
The majors are investing more in deepwater exploration as they are doubling down on their pledge to continue delivering oil and gas to meet global demand.