21 Oct 2024
China, the world's largest importer of oil, reported its slowest economic growth since early 2023, exacerbating concerns about energy demand in the world’s second-largest economy. The slowdown, alongside a staggering 42% surge in electric vehicle (EV) sales in August
21 Oct 2024
18 Oct 2024
17 Oct 2024
Oil prices remained near a two-week low on Wednesday, following a 7% decline over the previous three days due to forecasts of reduced demand growth and easing concerns over the ongoing conflict in the Middle East.
17 Oct 2024
16 Oct 2024
The cancellation of the Ras al-Zour project, which aimed to build a 400,000-barrel-per-day refinery, was driven by uncertainties surrounding domestic demand. Originally announced in November 2022, the project would have converted 45% of the refinery's crude output into chemicals.
16 Oct 2024
Oil prices slumped over 4% on Tuesday, 15 October 2024, reaching their lowest in nearly two weeks, as a report suggested that Israel would not target Iranian nuclear and oil facilities. This development calmed fears of potential disruptions to global supply, a key factor driving recent market volatility.
