Lower oil prices defy robust forecasts for global demand
Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is…
Deregulating versus regulating oil prices
Energy plays a pivotal role in any nation’s economic development and there are many different sources of it, including natural gas, solar electricity, nuclear power, biomass and biofuels, wind energy,…
Will low oil prices sustain?
New price of gasoline is 230.24 Rs/liter (7.44% decrease) and diesel’s is 236 Rs/L (14.66% decrease). Gasoline’s price has been reduced by 18.5 Rs/L and HSD’s by 40.54 Rs/L. Pakistan…
Saudi Arabia walks oil policy tightrope between Biden and Putin
Saudi Arabia’s push for swifter oil production hikes by OPEC+, which were agreed in June, involved behind-the-scenes diplomacy to ensure Russia backed the move that followed US appeals for more…
Oil prices – what to do? – I
Petroleum prices have been increased once again. New prices are: petrol Rs209.86 and High Speed Diesel (HSD) Rs204.15/L. It is a 40 percent increase in one month done in two…
Hungary holds up EU plan to ban Russian oil
The European Union’s hopes to quickly impose a ban on Russian oil imports could be dashed after Hungary demanded expensive guarantees for its own fuel supplies, diplomats say. “I am…
Seven years into Yemen quagmire, Saudis play oil hardball
Western powers want Saudi Arabia to pump more oil to ease surging prices driven by the Ukraine war, but the kingdom has its own demand: support for its war in…
Russia cashes in as European oil refiners pay for US sanctions
European refiners are paying the price for US oil sanctions on Venezuela and Iran as they scramble to replace the sour crude Washington has blocked from the global market with…
Furnace oil consumption
All of Pakistan's refineries could be forced to shut down if the problems related to the slow off-take of furnace fuel oil are not resolved on an urgent basis. The…
Saudi Arabia nabs new China oil demand
Saudi Arabia is set to expand its market share in China this year for the first time since 2012, with demand stirred up by new Chinese refiners pushing the kingdom…
