The United Arab Emirates announced Tuesday that it will leave OPEC effective May 1, stripping the oil cartel of one of its largest producers and further weakening its leverage over global oil supplies and prices. The UAE’s decision had…
Oil prices extended gains on Friday, and stocks struggled as investors worried about a lack of progress in ending the Middle East crisis, with Tehran keeping the Strait of Hormuz closed and the US maintaining a blockade…
MANILA – Measures to ensure the mindful use of petroleum products along with continued delivery of fuel have contributed to a steady domestic supply of oil products in the Philippines, Energy Secretary Sharon Garin said Monday. In an…
Prime Minister Datuk Seri Anwar Ibrahim has called for an end to the controversy over allegations of diesel supply to the Philippines, saying the claim is untrue. He said the company supplying the fuel to the country…
MANILA – The Philippines is considering importing oil from Russia following the temporary lifting of sanction on Russian crude oil in transit at sea, Foreign Affairs Secretary Ma. Theresa Lazaro said on Friday. Lazaro, in a virtual presser…
NEW YORK, United States — Oil prices surged above $100 a barrel for the first time in nearly four years on Sunday over worries that the spiralling Middle East war could create prolonged supply disruptions. Both crude…
WASHINGTON, United States — US President Donald Trump said Monday that Mexico would stop sending oil to Cuba, which is already struggling after supplies from its traditional provider Venezuela dried up following the fall of Nicolas Maduro.…
Venezuela’s acting President Delcy Rodríguez on Thursday signed a law that opens the nation’s oil sector to privatization.…
CARACAS, Venezuela — President Donald Trump said Tuesday on his social media site that “Interim Authorities” in Venezuela would be providing 30 million to 50 million barrels of “High Quality” oil to the U.S. at its market…
MANILA, Philippines – A big-time oil price hike of almost P5 a liter awaits motorists next week due to global jitters over a supply disruption resulting from a possible escalation in the Israel-Iran conflict. The Department of…
Fuel prices will have mixed adjustments this week, with the per-liter cost of gasoline rising nearly P1 starting Tuesday, December 3, 2024. Oil companies Seaoil and PetroGazz said in separate advisories on Monday, December 2, 2024, that…
LONDON (Reuters) -Global oil demand will grow by 1.9 million barrels per day (bpd) this year, according to a prediction by energy research company Wood Mackenzie, a forecast close to the Organisation of the Petroleum Exporting Countries’…
