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Saudi Arabia Raises Arab Light Prices For Asia

Saudi Arabia has raised the official selling price (OSP) for Arab light for Asia by $0.45/bbl m/m to $3.00/bbl for July, following the June 4 announcement that OPEC+ would extend production cuts until 2024

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Jaguar Recalls Thousands Of I-Pace EVs Over Fire Risk

Jaguar Land Rover (JLR) is recalling 6,400 I-Pace electric SUVs delivered to the US because the high-voltage electric battery may overheat and catch fire

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Reuters Survey: OPEC Output Down 460,00 BPD This Month

A Reuters survey on Wednesday shows a drop in OPEC oil output for May following voluntary production cuts by OPEC+ said to help support the market

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American Offshore Wind Gets Gulf Of Mexico Green Light

The U.S. Bureau of Ocean Energy Management (BOEM) has given the Gulf of Mexico the environmental green light for offshore wind energy development on the outer continental shelf’s federal territory, paving the way for offshore wind projects across 30 million acres

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Rosneft Q1 Profit Soars As Russian Oil Output Cuts Remain Invisible

Russian state-run oil giant Rosneft saw its first-quarter 2023 net profit rise by over 45% to around $4 billion, beating analyst expectations as production increases despite Moscow’s 500,000 barrel-per-day output cuts

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