And on the production platforms where workers are sequestered for 14-day shifts, suppliers are rationing tortillas and serving nothing but beans as the state oil company racks up unpaid bills.

Oil production in the world’s largest importer of the commodity hit an all-time high of 4.6 million barrels daily. China will not cease to be a major importer of crude anytime soon. Most of ...

Chinese state-controlled refining giant Sinopec has returned to buying Russian crude oil after halting purchases last month due to concerns about the U.S. sanctions on Russia’s oil trade and ...

Filipino consumers may have to pay more for coconut oil as prices are expected to rise further this year due to higher demand and global supply disruptions. The Philippine Coconut Authority (PCA ...

Oil prices are crashing due to global economic concerns and increased OPEC production. Goldman Sachs says Brent oil could fall under $40 by 2026 in an 'extreme' scenario US oil production may ...

Russia, whose economy is heavily dependent on oil, energy, and mineral exports to the world, is staring at a crisis, should oil prices continue to plummet the way they are currently. Moscow has ...

HOUSTON, April 23 (Reuters) - The U.S. upstream oil and gas M&A market is bracing for the most challenging conditions since the COVID-19 pandemic as oil prices slump and prime acreage dries up ...

The price of WTI Crude oil is around $57.70, and Brent is at $60.69. Experts warn of further declines due to escalating trade tensions.(Photo: Bloomberg) Both benchmarks have tumbled over the five ...

Oil prices are up this week after US President Donald Trump on Saturday threatened so-called secondary tariffs on Russia and Iran. On Monday, US benchmark West Texas Intermediate settled 3.1% ...

The kingdom's economy is still heavily dependent on oil revenues, but prices have been sliding. A big decline in oil revenue may make it harder to fund Saudi Arabia's ambitious megaprojects.

Oil fell to just $60 a barrel. That’s the lowest we’ve seen it since 2021. (And if you'll recall, that was back during the height of the global pandemic, when we weren’t traveling much.) ...

HOUSTON, April 21 (Reuters) - Chevron (CVX.N), opens new tab has started oil and gas production from a project in the U.S. Gulf of Mexico, the oil major said on Monday, bringing the company a step ...