Auto Industry
Reuters
Aug 29, 2022, 11:04 PM
Oil prices dropped about 4% as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week's meeting of OPEC and its producer allies on supply.
2 Min
Reuters | Aug 29, 2022OPEC+ Sees Slightly Smaller Oil Market Surplus This Year, Sources SayOPEC+ sees this year's oil market as slightly less supplied than previously thought, a day ahead of a meeting at which the producer group is set to decide on its production policy for next month.1 min read
Reuters | Aug 29, 2022Cuba Gets Help From Mexico, Venezuela To Fight Oil FireCuba appeared to make progress bringing under control a fire at its main oil storage facility that has killed one firefighter, drawing on help from Mexico and Venezuela to fight the raging flames.2 mins read
Reuters | Aug 29, 2022Indian Oil Corp Unit To Open 50 Fuel Stations In Sri Lanka To Help Alleviate CrisisSri Lanka has given approval for India's Lanka Indian Oil Corporation (LIOC) to open 50 new fuel stations, a company official said on Monday, as part of efforts to reduce severe shortages that have crippled the island nation.1 min read
Reuters | Aug 29, 2022Oil Rises Nearly 2% On Strong Economic Data But Trade ChoppyOil prices rose nearly 2% in volatile trading, bouncing off multi-month lows touched last week, as positive economic data from China and the United States fed hopes for demand despite nagging fears of a recession.1 min read- Reuters | Aug 29, 2022Ukraine Halted Oil Flows To Europe Over Payment Issue, Russia's Transneft SaysUkraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said.4 mins read
Reuters | Aug 29, 2022Devastating Fire May Force Cuba To Resort To Floating Oil StorageAn inferno at Cuba's largest oil storage facility has killed at least one firefighter, injured many more, and threatens to further swell the fuel import bill for the impoverished island nation that relies on foreign oil for everything from transportation to its power grid.3 mins read- Reuters | Aug 29, 2022Clashes In Oil-Rich Shabwa Test Yemen's New Presidential CouncilYemen's new presidential council is under strain over clashes between nominal allies in oil-rich Shabwa this week, imperilling Saudi Arabia's efforts to strengthen an anti-Houthi coalition and potentially complicating international peace efforts.2 mins read
Reuters | Aug 29, 2022Oil Settles Lower On Weak Economic Chinese Economic DataOil prices settled lower after disappointing Chinese economic data renewed concerns of a global recession that would be expected to reduce fuel demand.2 mins read
