As sanctions cut off major Russian banks from much of the West’s payment systems, finding ways to pay for the crude India imports from Russia has become a challenge. India has emerged as a major buyer...
Lebanese olive oil has become unaffordable for many in the crisis-ridden country. As inflation bites and the US dollar reigns supreme, poorer people are forced to part with their traditional local diet. Imad Waresbi is...
An unexpected OPEC production cut announcement has pushed up the price of oil. Besides reducing the amount of oil for sale, the move could also play into the hands of Russia and refill its war...
Saudi Arabia’s national oil producer Aramco achieved “record” profits totaling $161.1 billion, a nearly 50% increase. The firm saw prices skyrocket after Russia invaded Ukraine, leading to soaring global energy prices. Aramco, the mostly Saudi...
Nigeria is Africa’s biggest oil producer. But the lack of operational oil refineries has left the industry in crisis, forcing the country to import fuel. Economists say the next government needs to diversify the economy....
Ukraine’s central bank has been de facto printing money to pay its troops, but the measure is unsustainable. More international support is vital, but how much new cash could be raised domestically? As the war against...
Saudi energy giant Aramco says its profits have nearly doubled compared with last year. The firm, which is nearly fully state-owned, has seen both demand — and pump prices — soar. Saudi Arabia’s national oil...
A string of record-breaking profit reports from the world’s largest oil companies has raised eyebrows, given that consumers around the world are grappling with a worsening energy crisis. The global energy crisis and high inflation...
The US Dollar has been the global reserve currency ever since 1944 when the Bretton Woods Agreement was signed between the major nations of the world. For the uninitiated, a global reserve currency is a...
As the price for oil and gas explodes in Europe, heat pumps could be a meaningful alternative. In Germany, lavish state subsidies are making the idea even more attractive for single-family homes. With blistering summer...
Commodity markets are in the spotlight as Russia keeps selling its oil and gas through specialized dealers in Switzerland. The business brings in billions of dollars that could be used to fight the war in...
Germany has been tied to Russia through energy for decades. But as the EU moves to end its dependency on Russian energy, opposition from the continent’s biggest economy is fading into irrelevance. A few days...
