The Arab oil producer has long expressed frustration with the quotas it has to follow as part of OPEC, the cartel of major state-owned oil producers.
oil industry
Posted inNPR
Why high oil prices are good for oil companies — until they aren’t
Yes, higher crude oil prices mean a multibillion-dollar cash infusion to the oil industry. But volatility is bad for business, and sustained high prices come with very serious drawbacks.
Posted inNPR
How long will the war last? No one knows, and it’s making oil prices weird
It’s like the “Schrödinger’s cat” thought experiment. There are two very different potential realities, and traders don’t yet know which one is true.
Posted inNPR
The U.S. is a major importer of Indian products made from Russian oil
The United States imports oil products from India’s Reliance Industries refinery, which sources nearly half its oil from Russia.
