Tag: Oil

Sinopec's full-year earnings declined last year as pandemic-induced lockdowns slashed domestic demand for oil and gas. Supply, in contrast, rose to a record level. China Petroleum & Chemical Corp., as the company is formally known, recorded a net income of 66.2 billion yuan ($9.64 billion)...

Oil fell on Thursday as investors weighed the latest Federal Reserve interest rate decision as well as a mixed outlook on oil supply and demand. West Texas Intermediate futures were trading between $70 and $71 per barrel; a similar level to Fed Chair Jerome...

Oil losses were sustained on Monday as investors continue to harbor concerns over the ongoing global banking crisis. This uncertainty has hampered investors' willingness to take risks. Crude prices, which have fallen since the failure of Silicon Valley Bank two Fridays ago, have continued to...

Contrary to the U.S. government's campaign to end fossil fuels, a report released by the Energy Information Administration (EIA) on Thursday projects that U.S. oil production will remain at historically high levels through 2050 despite the adoption of renewable energy solutions. The 2023 Annual Energy...

Oil prices plunged on Wednesday as markets across the globe continue to reel from the fears over the volatility of the banking system. In addition, data on U.S. oil inventories has indicated a steady build-up in stockpiles over the last few days. West Texas Intermediate...

Saudi Arabian oil giant Saudi Aramco reported on Sunday a net profit of $161.1 billion for the 2022 fiscal year. A record annual profit for the company, this is a 46% rise from 2021 and occurred during a period of higher energy prices as...