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The Latest Breaking News from Oil

Russia says West, unlike China, 'shoot themselves in the head' over Ukraine

Russia said on Wednesday that the West had "shot itself in the head" by trying to limit energy imports from the oil and gas fields of Siberia due to the Ukraine conflict, in sharp contrast to China which has increased deliveries of energy.

Reuters

Russia rakes in nearly $20bn from oil exports in May

Rise in revenues is setback for west’s efforts to hit Russian economy in wake of Ukraine invasion

The Guardian - UK

With Oil Prices Surging, Is Nordic American Tankers a Buy?

Nordic American Tankers (NAT) anticipates increased demand for their Suezmax tankers in the coming days since OPEC and Saudi Arabia decided to expand oil output by more than the previously projected 400,000 barrels. However, considering its lack of profitability and low-profit margins, would it be worth buying the stock now?…

StockNews.com

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5 Top Mining Stocks to Buy in June

Rising commodity prices and soaring demand for metals and materials should drive the performance of mining companies. Moreover, the digitization of various mining operations should bode well for the industry. Therefore, fundamentally sound mining stocks Rio Tinto Group (RIO), BHP Group Limited (BHP), Glencore plc (GLNCY), Vale S.A. (VALE), and…

StockNews.com

Biden calls on oil refiners to produce more, cut profit margins

In a letter to company heads, Biden says ‘historically high refinery profit margins’ are hurting US consumers.

Al Jazeera

Pennsylvania Options For Wellness Launches Rick Simpson Oil In Its Pennsylvania-Based Dispensary Locations

Pennsylvania Options for Wellness, Inc. launched Rick Simpson Oil under its "Vytal Options" brand of products in its Pennsylvania-based dispensary locations. The development of this product was announced after PA Options for Wellness/"Vytal Options" saw an increase in demand for a competitively priced RSO product. directions.

Benzinga

Indonesia trade minister sacked after palm oil export flip-flops

Indonesian president names new trade minister after a three-week export ban sent shockwaves through global markets.

Al Jazeera

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Biden Questions Oil Companies On Lack Of Gasoline Amid Increasing Prices: Reuters

As U.S. president Joe Biden faces pressure over rising gasoline prices, he demanded oil companies explain why more gasoline is not in the market.

Benzinga

Biden warns oil companies to boost production – or he’ll force them to

‘I understand that many factors contributed to the business decisions to reduce refining capacity ... but at a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable’

The Independent UK

These recipes might help alleviate your hay fever

There is a strong link between food allergies and hay fever, nutritionist Ellie Bain tells Hannah Twiggs. Here’s how you can manage your symptoms through your diet

The Independent UK

IEA: Global Oil Demand Set to Rise 2% to New High in 2023

World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook. The Paris-based IEA also said in its monthly report supply…

Asharq Al-Awsat

Indonesian leader reshuffles Cabinet amid rising food prices

Indonesian President Joko Widodo has announced a Cabinet reshuffle, replacing key economic ministers amid a national cooking oil shortage and rising food prices

The Independent UK

Biden warns Big Oil that he's ready to use "emergency authorities" to boost gas output

The direct outreach to oil giants signals how gasoline and diesel prices have become both an economic and political shock.

Axios

Biden tells oil refiners: Produce more gas, fewer profits

President Joe Biden is calling on U.S. oil refiners to produce more gasoline and diesel

The Independent UK

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WEKU

Biden is under pressure on gas prices. So he's putting pressure on oil companies

President Biden says he wants the biggest refiners to do more to increase gasoline supply and lower prices. He says he's ready to use emergency powers to boost capacity — but he didn't give details.

The Independent UK

Three fast, furious and fresh Asian recipes to try this week

Simple to make, impressive to look at, these recipes from Jeremy Pang’s new cookbook are ready in a flash, says Lauren Taylor

Chronicle Live

Just Stop Oil protesters dragged away after blocking busy road in Newcastle city centre

Stop the Oil demonstrators have spoken of their shock at being dragged away by members of the public during a protest

The Times of India

EU bought 61% of Russia's fossil fuels in first 100 days of Ukraine war

NEW DELHI: Russia's invasion of Ukraine since late February has pushed up energy prices to record highs and tightened global supplies.

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Asharq Al-Awsat

Riyadh Lists 11 Entities, 8 Individuals as Terrorist for Houthi Ties

The Saudi Presidency of State Security designated on Tuesday eleven entities and eight individuals as terrorist for their ties to the Iran-backed Houthi militias in Yemen. Saudi Arabia is determined and will continue to work to stop the influence of the Houthi militias, stressed the agency in a statement. The…

Financial Times

Oil vs human rights: Biden’s controversial mission to Saudi Arabia

The president’s trip to Riyadh next month is a remarkable U-turn that was sparked by Russia’s invasion of Ukraine

The Guardian - AU

Stagflation: what is it and is it really happening in Australia?

Australians are feeling the pinch from rising inflation, but experts are divided on whether the 1970s economic phenomenon is back

Reuters

Indonesia president reshuffles cabinet, names new trade minister

Indonesian President Joko Widodo announced a cabinet reshuffle on Wednesday, appointing a new trade minister following controversy over a series of policy flip-flops on palm oil exports.

Bangkok Post

Without Cheap Russian Energy, Some European Factories Are Shutting Down

For decades, European industry relied on Russia to supply low-cost oil and natural gas that kept the continent's factories humming.

The Times of India

Food quality to suffer with paltry midday meal budget in Maharashtra

PUNE: Self-help groups and centralized kitchens cooking midday meals for thousands of children in the state will have to cut corners to provide quality food.

The Conversation

Prairie songbirds are affected by unpredictable noise produced by oil drilling

Grassland songbirds have been steadily decreasing for decades in Canada. In addition to having to endure strenuous migration every year, they are confronted with the symphonies of oil extraction and drilling once they finally reach their prairie breeding grounds.

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