Oil

End-of-year turbulence overshadows COP28 success

Red Sea tensions add to shipping costs but energy flows unaffected

China’s exports drop as crude oil imports hit record highs

Imports of crude oil increased last year by 11 percent

Oil prices see modest gains as U.S. demand rises, inventories fall

Brent and WTI increased 0.32 and 0.40 percent, respectively

Oil stabilizes amid Saudi Arabia’s sharp price cuts

Coming from an over 3 percent dip from previous session

AD Ports commits to operating terminals at Egypt’s Red Sea ports

Deal includes developing yacht and cruise ship tourism in Egypt

Dragon Oil commences production of crude oil in Egypt

Production set initially at 3,000 barrels of crude oil per day

Oman forecasts $1.7 billion 2024 budget deficit amid oil challenges

Budget gap prompts focus on economic diversification

Qatar inks first five-year crude sales deal with Shell

Commits to supply up to 18 million barrels annually

Half of Russia’s oil exports go to China and India in 2023

China oil export shares have risen to approximately 45 to 50 percent

United States buys 3 million oil barrels as strategic reserve

Office of Petroleum Reserves purchased oil at an average price of $77.31 per barrel