Gasoline prices can be unpredictable, fluctuating from day to day and even hour to hour. While it may seem like the cost of gasoline is arbitrary, there are actually several factors that impact how much you pay at the pump. In this article, we will explore the different factors that affect gasoline prices, including oil prices, refining costs, distribution costs, taxes, and more.
As the OPEC+ meeting in the first days of February only confirmed the oil group is intent on maintaining its strategy and will avoid sudden and drastic moves, Saudi Arabia was facing a peculiar dilemma with its March 2023 official formula prices.
Russia has become the single biggest crude supplier to India over the past year as the world’s third-largest oil importer snaps up discounted Russian oil banned in the West.
Oil prices extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world’s top crude importer, boosted the outlook for global fuel demand.
OPEC oil output rose in February led by a further recovery in Nigerian supply, a Reuters survey found on Tuesday, despite strong adherence by top producers to an agreement by the wider OPEC+ alliance to cut production to support the market.
So where is the 600,000 barrels of crude oil from Russia that arrived at the Tema harbour? And who procured that cargo and for what purpose?
Russian oil firm Lukoil is in direct talks with Indian companies to sell its 38% stake in a deepwater oil and gas field offshore Ghana, Reuters reported on Monday, quoting Russian and Ghanaian sources with knowledge of the matter.
The Oil and Gas sector is a major industry in the energy market and plays an influential role in the global economy as the world’s primary fuel source. The industry has recognized Africa’s potential and continues to create platforms for the advancement of the continent’s energy industry.
Woodside Energy Group Ltd., Australia’s biggest oil and gas producer, says it will review potential acquisitions in the Gulf of Mexico after reporting its highest-ever profit.
Oil is the largest commodity in the world, with the global crude oil market in 2022 estimated at $2.7 trillion. This trade is facilitated by both public and private entities and is dominated by traders of all types. Leading oil producers including the United States, Saudi Arabia, the United Arab Emirates, Russia and Iraq deliver oil to consumers like the European Union (EU), with a large part of Europe’s oil going through the ARA Amsterdam-Rotterdam-Antwerp) trade hub.