The United States has renewed a waiver for Iraq to continue importing Iranian electricity, a US State Department official said late Sunday, but this time for a shorter period of 30 days, adding that Washington would be reassessing whether to renew again once a ‘credible government’ is formed in...
Total losses from a structured crude oil product marketed to retail investors by the Bank of China could be more than ($1.27 billion), the Caixin financial news outlet reported on Sunday, citing official sources.
More than 60,000 individual investors involved in the scheme have lost deposits...
Saudi Aramco began reducing oil production earlier this week ahead of the May 1 start date for OPEC+ output cuts, according to a Saudi industry official familiar with the matter.
Aramco has begun to curtail production from about 12 million barrels a day to achieve the agreed level of 8.5 million...
With just three days remaining to the expiry of a 30-day US waiver to import Iranian gas and electricity, Iraq will struggle to drum up some $10 billion in investments over a four-year period to stop these imports at a time when US patience with OPEC's second-largest oil producer is wearing thin...
Kuwait said it has started cutting oil output ahead of May 1, the date when suppliers worldwide plan to start slashing production to counter a devastating glut.
The fourth-biggest member of OPEC “felt responsibility to respond to market conditions” and acted on its own, Oil Minister Khaled Al-...
The most ambitious bid to rescue the global oil industry ever seen has been swept aside by a brutal wave of demand destruction.
Less than two weeks ago, the world’s biggest oil producers -- in a deal facilitated by US President Donald Trump -- agreed to slash output in the hope of defending...
Oil prices continued to plummet Wednesday as concerns over limp demand and limited remaining storage capacity lingered.
International benchmark Brent crude futures plunged 14% to $16.55 per barrel on Wednesday, CNBC reported.
Meanwhile, the June contract for West Texas Intermediate shed all of...
US oil futures traded in negative territory on Tuesday, after sinking nearly $40 the previous session in their first ever dive below zero, as concern grew the sector will run out of storage for a glut caused by the coronavirus lockdown.
Global benchmark Brent crude also fell in response to the...
The renewable-energy industry could create more than a million jobs a year if countries invest enough to meet their target for cutting global carbon emissions, according to an advocacy organization.
Solar, wind and other forms of green energy could add 42 million jobs by 2050 if nations spend...
Iraq plans to study using Kurdish natural gas for power generation, the country's oil minister said on Sunday, allowing OPEC's second-largest oil producer to plug the gas deficit and power shortage.
The country currently imports the fuel from Iran with approval from the US, S&P Global...