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Exclusive: Russian firm asks Venezuela to match Chevron oil-for-debt deal

A Russian oil firm is asking Venezuela's state-run company PDVSA for permission to take control of exports from their joint ventures to revive cash flow from the five companies, which have been hard-hit by U.S. sanctions, two people involved in the talks said.

China refiners stoke petrochemical glut in market-share war

China is relentlessly adding new petrochemical capacity despite a global glut as the country's refiners diversify from transport fuels, threatening to depress margins worldwide through 2024 as weak economic growth saps demand.

Global oil market fundamentals sound for rest of 2023 - Aramco CEO says

Global oil market fundamentals are expected to remain sound for the rest of the year, underpinned by healthy demand in developing countries, especially in China and India, Saudi Aramco CEO Amin Nasser said on Monday.

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