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Lessons learned in '70s have made the US and world economies less vulnerable to oil shocks
WASHINGTON (AP) — The world economy is experiencing a disorienting flashback to the 1970s. Oil prices are once again surging in the wake of war in the Middle East, driving up the cost of gasoline, diesel and jet fuel and threatening a return…
Indonesian president to meet Putin in Russia for oil talks
Indonesia's President Prabowo Subianto will depart for Russia on Sunday for talks with counterpart Vladimir Putin on oil, Prabowo's office said. SCROLL TO CONTINUE WITH CONTENT The presidency in Jakarta confirmed to AFP that Prabowo would leave…
PHOTOS: Oil and gas drilling in the age of record production
Friendly policy from Republicans, including President Donald Trump's two administrations, has also allowed oil drilling to expand rapidly across the U.S. Many Americans might be familiar with the image of a pumping jack, a steel-and-iron structure…
Watch Iran War Drives Oil Shock
As the conflict in Iran continues, there's growing concern about oil volatility and whether this is the beginning of a true supply disruption. Market Intelligence Founder & Director Amrita Sen joins Christina Ruffini and Tim Stenovec on Bloomberg…
Task for the week: limit the fallout from biggest oil shock in decades | Richard Partington
The world's finance ministers and central bank governors gather in Washington this week for the half-yearly meetings of the International Monetary Fund and the World Bank, with the global economy in a perilous spot. Not since the foundation of the…
Oil-Rich Latin America Lures Traders Navigating War Jitters
Latin American assets have emerged as a haven for emerging-market investors trying to navigate an increasingly volatile global backdrop, buoyed by a roster of oil exporters and greater insulation from tensions in the Middle East. Currencies across…
Oil price cap freeze raises concerns over market distortions, fiscal strain
The government's decision to keep the third-round oil price cap unchanged from the previous level is raising concerns over potential market distortions and mounting fiscal strain amid ongoing volatility in global oil prices linked to the Middle…
Saudi Arabia Says It Restored Key Oil Pipeline to Full Capacity
Saudi Arabia restored “full pumping capacity” to its East-West pipeline, the kingdom's primary crude oil export outlet, the Saudi energy ministry said on social media. The pipeline, which lost around 700,000 barrels of daily pumping…
Korea likely to avoid tapping oil reserves through May
Korea will be able to weather ongoing energy supply uncertainties without tapping oil reserves through April and May, Industry Minister Kim Jung-kwan said Sunday. The government has secured sufficient crude oil supplies, supplemented by voluntary…
Trump pitches Iran blockade as boon to U.S. oil
President Trump is pairing his Iran blockade with a sales pitch: Countries squeezed by the Strait of Hormuz — especially China — should buy more oil from the U.S. instead. Why it matters: The U.S. rise to become the world's largest…
Lessons learned in '70s have made US, world economies less vulnerable to oil shocks
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Saudi Arabia says key oil pipeline back to full capacity after attacks
Saudi Arabia has restored the East-West oil pipeline to full capacity after attacks that curtailed output, according to officials. After repair work, the key pipeline is back to being able to pump approximately seven million barrels of oil a day…
GOP runoff battle for Texas Attorney General pits veteran prosecutor congressman against oil and gas executive and experienced senator
Aside from the GOP primary runoff battle for U.S. Senate in Texas, the other races generating a lot of buzz for the May 26 runoff are the Republican and Democratic contests for Texas Attorney General. The current attorney general, Ken Paxton, is…
Exclusive | Wrong-Way Bets on Oil Had a Star Trader Hundreds of Millions in the Hole
A team led by a star trader at Vitol, the world's biggest oil merchant, took a several hundred million dollar hit early in the Iran war after bets in the petroleum market went awry, people familiar with the matter said. Yaoyao Liu is legendary in…
Former 'Citgo 6' political prisoner sees 'karma' in Maduro ouster, but Venezuelan oil won't rebound until there's true regime change
Watching Nicolás Maduro transported in handcuffs by U.S. officials in January, José Pereira felt a sense of retribution and a release of eight years of pent-up anger. “That is exactly what this guy did to us,” Pereira…
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