crude oil | Al Majalla

Crude oil hits record low

Average monthly crude oil prices dropped to below $65 per barrel in May 2025, one of the lowest since April 2021. Following an 8.1% increase in January 2025, WTI prices declined for three consecutive…

Al Majalla - London 27 May 2025

Crude oil tanker Advantage Angel sails in the Bosphorus, on its way to the Mediterranean Sea, in Istanbul, Turkey December 12, 2022. REUTERS/Yoruk Isik

Turkey Reaches Deal Over New Crude Tanker Insurance Regulations

Turkey welcomed an agreement reached with its counterparts on Tuesday that allows the continuation of a new regulation requiring crude oil tankers to present an insurance confirmation letter before…

13 December 2022

Saudi Aramco To Invest in $7 bln Petchem Project in South Korea

Saudi Aramco (2222.SE) said on Thursday it plans to invest in a $7 billion project to produce petrochemicals from crude oil at its South Korean affiliate S-Oil Corp's (010950.KS) refining complex in…

17 November 2022

The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. REUTERS/Christian Hartmann

Oil Supported By Supply Threats Yet Still Set For Weekly Drop On Demand Fears

Oil rose on Friday supported by real and threatened cuts to supply, although crude was set for a second weekly decline as aggressive interest rate hikes and China's COVID-19 curbs weighed on the…

09 September 2022

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian

Oil Steady As Tight Market Competes With Recession Fears

Oil prices were largely steady on Monday as a relatively tight global supply picture competed with fears of a recession and a rising dollar. Brent crude futures for October settlement fell 34…

22 August 2022

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