Javier Blas Bloomberg

History doesn't repeat itself, but it often rhymes. On the eve of the 50th anniversary of the world's first oil crisis, the parallels between October 2023 and October 1973 are easy to draw: A surprise attack on Israel and oil prices rising.

Saving electricity equals saving natural gas because a large chunk of power in Europe is generated by burning gas imported from Russia.

The US and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand.

President Joe Biden sounded deeply frustrated. Inflation was heading toward a 30-year high and Americans, rich and poor, could see the price of gasoline going up almost daily. Politically, oil was toxic for the White House.

Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.

On a day that Saudi Arabia jolted the oil market with an output cut it called a "gesture of goodwill," the kingdom's de-facto ruler took center stage in a mirrored concert hall, ready to resolve a different crisis.

Saudi Aramco was the world's most profitable company in 2018, easily surpassing U.S. behemoths including Apple Inc. and Exxon Mobil Corp., according to accounts published by ratings agencies before the firm's debut in the international bond market.

India isn't planning to buy any Iranian oil in November, raising the prospect that Tehran will lose another major customer as U.S. sanctions hit and spurring speculation over whether China will follow suit.

Many nations are willing to join OPEC in cutting production to secure a continued improvement in oil prices, said Saudi Arabias Minister of Energy and Industry Khalid Al-Falih.

Essar Group is nearing a final agreement to sell control of its refinery unit to Russian energy giant Rosneft PJSC and commodities trader Trafigura Group Pte, people with knowledge of the matter said.

History doesn't repeat itself, but it often rhymes. On the eve of the 50th anniversary of the world's first oil crisis, the parallels between October 2023 and October 1973 are easy to draw: A surprise attack on Israel and oil prices rising.

Saving electricity equals saving natural gas because a large chunk of power in Europe is generated by burning gas imported from Russia.

The US and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand.

President Joe Biden sounded deeply frustrated. Inflation was heading toward a 30-year high and Americans, rich and poor, could see the price of gasoline going up almost daily. Politically, oil was toxic for the White House.

Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.

On a day that Saudi Arabia jolted the oil market with an output cut it called a "gesture of goodwill," the kingdom's de-facto ruler took center stage in a mirrored concert hall, ready to resolve a different crisis.

Saudi Aramco was the world's most profitable company in 2018, easily surpassing U.S. behemoths including Apple Inc. and Exxon Mobil Corp., according to accounts published by ratings agencies before the firm's debut in the international bond market.

India isn't planning to buy any Iranian oil in November, raising the prospect that Tehran will lose another major customer as U.S. sanctions hit and spurring speculation over whether China will follow suit.

Many nations are willing to join OPEC in cutting production to secure a continued improvement in oil prices, said Saudi Arabias Minister of Energy and Industry Khalid Al-Falih.

Essar Group is nearing a final agreement to sell control of its refinery unit to Russian energy giant Rosneft PJSC and commodities trader Trafigura Group Pte, people with knowledge of the matter said.