LONDON—Oil fell by almost $1 on Tuesday as concerns over a possible recession and China’s COVID-19 curbs outweighed tight global supply and expectations of a pick-up in fuel demand with the U.S. summer driving season. Investment banks including UBS and Goldman Sachs have cut their 2022 China growth outlooks. The head of the International Monetary…
Oil Firms on Tight Supply as US Driving Season Looms
LONDON—Oil prices gained on Monday with U.S. fuel demand, tight supply, and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth. Brent crude futures rose $1.12 or 1 percent to $113.67 a barrel at 0912 GMT, while U.S….
Shanghai’s Economy Plunged 61.5 Percent in April, Lockdown Caused Lack of Confidence in Industries: Expert
May 21, 2022
admin
automobile industryCCP VirusChinaChina Business & EconomyChinese RegimeeconomyINSIDE CHINAInternational RelationsNatural gasOilShanghaisocial controlSpecial Topics
0 Comment
Shanghai’s economy was hit hard in April by the nearly two-month lockdown. The latest data published by authorities shows that in April, the total industrial output in Shanghai dropped by 61.5 percent compared to the same time last year. An expert pointed out that the Chinese communist regime’s extreme lockdown of Shanghai under its “Zero-COVID”…
Big Cities’ Climate Lawsuits Against Big Oil Scrutinized
May 20, 2022
admin
Business & EconomyclimatecommoditiesCompaniescongressDemocratseconomic policieseconomyEnvironmentEPAExecutive BranchJudiciarylawsuitsMarketsOilPolicies & ImpactsPoliticsRepublicansScienceUSUS News
0 Comment
A recent wave of government climate change lawsuits against oil and gas firms may prove deeply harmful, actually inhibiting the growth of new, greener technologies by diverting resources that would otherwise fuel innovation, according to a May 16 issue brief from the Pacific Research Institute (PRI). “There are many serious adverse consequences from state and…
Greenpeace Blocks Arrival of Tanker Carrying Russian Diesel to UK Fuel Terminal
Greenpeace says protesters have occupied a jetty where a tanker carrying a 33,000-tonne shipment of Russian diesel was due to berth, forcing it to turn around in the Thames. The campaign group said 12 activists gained access to Navigator Terminals in Grays in Essex and climbed onto the jetty late on Sunday. Greenpeace says the…
Saudi’s Aramco Sees Profits Soar to $39.5 Billion in Q1 as Global Gas and Oil Prices Surge
May 16, 2022
admin
AramcoBusiness & EconomyCompanieseconomyGasinflationInternationalInvestmentMarketsMiddle EastOilWorld
0 Comment
Saudi oil giant Aramco on May 15 posted its highest profits since its initial public offering in 2019 as global gas and oil prices continue to surge in the wake of Russia’s invasion of Ukraine. The world’s largest oil exporter disclosed in its first-quarter 2022 results that it has made $39.5 billion in earnings in the first quarter…
Russian Oil Revenue Up 50 Percent, Despite Sanctions
Russian oil revenue has risen by 50 percent since the beginning of the year, despite sanctions aimed at punishing the country for its recent and ongoing invasion of Ukraine, according to a new report by the International Energy Agency (IEA). In its most recent monthly market report, the IEA said that the Russian Federation had…
Biden Oil and Gas Lease Sale Cancellations Draw Strong Reaction
May 12, 2022
admin
AlaskabidenBusiness & Economycommoditiescongresseconomic policieseconomyEnvironmentExecutive BranchGina McCarthyMarketsNational SecurityOilPolicies & ImpactsPoliticsRepublicansScienceUSUS FeaturesUS News
0 Comment
As gas prices continue to break records, the Biden administration’s cancellation of two lease sales in the Gulf of Mexico and one lease sale in Alaska’s Cook Inlet has drawn clashing responses, including an accusation that the administration is “blatantly lying.” One political figure who weighed in was Donald Trump, Jr., who recently campaigned with…
Pelosi Announces Anti-‘Fuel Price Gouging’ Bill Granting Sweeping New Powers to Biden
May 12, 2022
admin
Business & EconomyDemocratseconomyMarketsOilPoliticsSpeaker of the House Nancy PelosiUncategorizedUS
0 Comment
Speaker of the House Nancy Pelosi (D-Calif.) announced during a May 12 press conference that Democrats would bring legislation to the floor that would grant President Joe Biden sweeping new powers to impose price caps on oil companies. Over the past year, the price of gasoline has increased dramatically. According to the Department of Labor’s…
ConocoPhillips Plans $1.1 Billion Investment as Norway Oil Sector Heats Up
SANDEFJORD, Norway—ConocoPhillips submitted on Monday a plan to develop an oil discovery in the Norwegian North Sea for 10.5 billion Norwegian crowns ($1.10 billion), the first of an expected rush of new petroleum projects to be launched in Norway this year. Known as Eldfisk North, the development is part of the wider Ekofisk area, where…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`