OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to Continue Reading
Indian Oil Corp (IOC) (IOC.NS) has excluded several high-sulfur crude grades, including the Russian Urals, from its latest tender, trade sources said on Tuesday. India’s top refiner informed market participants Continue Reading
Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials Continue Reading
India ramped up crude oil purchases from Russia despite warnings from Washington not to do so. India’s relations with the U.S. seemed to have improved during a brief struggle with Continue Reading
Venezuela is scrambling to ramp up its oil production to help tackle global supply constraints. There is a growing concern that state-owned PDVSA is reaching its production capacity. Some analysts Continue Reading
China’s Premier Li Keqiang issued a third warning about economic growth risks in less than a week, suggesting heightened concern about the outlook as widespread Covid lockdowns disrupt production and Continue Reading
Oil resumed its decline as China’s virus resurgence worsened, raising concerns about demand from the world’s biggest crude importer. West Texas Intermediate futures slid below $96 a barrel. Virus cases Continue Reading
China’s factory-gate prices rose more than expected in March as oil prices climbed, while disruptions from Covid lockdowns drove up food costs, threatening the inflation outlook in the world’s second-largest Continue Reading
IPhone assembler Pegatron Corp. suspended production at its Chinese plants in Shanghai and Kunshan as the country’s policies to control the worst virus outbreak in two years disrupt global supply Continue Reading
Some residents of Shanghai were allowed out of their homes as the city of 25 million eased a two-week-old shutdown Tuesday after videos posted online showed what was said to Continue Reading
