Latest News

OPEC+ Latest: Group Meets Against Backdrop of Uncertain Market

The OPEC+ alliance decided to maintain production at current levels, pausing to take stock of a global oil market that’s roiled by uncertainty over Chinese demand and Russian supply.
More China Cities Ease Curbs in Expansion of Covid Policy Shift

Shanghai eased some of its Covid restrictions, joining other top-tier Chinese cities as authorities accelerate a shift toward reopening the economy after thousands of demonstrators took to the streets last weekend to voice their anger at the nation’s stringent policies.
Ukraine Latest: US Focuses on Ending Iran Weapons Flow to Russia

President Volodymyr Zelenskiy called the $60 per barrel price cap on Russian crude a sign of weakness toward Moscow. The cap agreed on by European Union countries is higher than the price at which Russian oil has been trading recently, and the Kremlin said it’s preparing a workaround in any case.
Kuwait Says Oil Buyers Don’t Want to Boost Imports Next Year

Kuwait’s state energy company said customers are reluctant to increase oil imports next year, signaling that the market’s being suppressed by global economic weakness.
Crypto Exchange Bybit to Cut 30% of Jobs in ‘Deepening Bear Market’

Cryptocurrency exchange Bybit is planning to cut its workforce by 30% amid a continued bear market in the asset class, co-founder and Chief Executive Officer Ben Zhou said.

BNN