In a first, Pakistan has agreed to import US crude oil, marking a major shift in its long-standing dependence on Middle Eastern energy suppliers. Oil is Pakistan’s biggest import item, and its shipments were valued at $11.3 billion in the year ending June 30, 2025,(AFP) The historic oil deal comes just months after US President…
China’s oil imports from Iran saw a sharp increase in June, driven by accelerated shipments ahead of the recent Israel-Iran conflict and rising demand from independent refineries. The world’s top oil importer and biggest buyer of Iranian crude brought in more than 1.8 million barrels per day from June 1-20, according to ship-tracker Vortexa, a…
WASHINGTON (AP) — President Donald Trump said Friday he would place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective Saturday, raising the specter of swift price increases for U.S. consumers even though he suggested he would try to blunt the impact on oil imports. Trump had been…
Weak demand in China will lead to lower supply from the world’s top crude exporter, Saudi Arabia, to the world’s largest crude importer in December, trading sources told Reuters on Monday. The drop in Saudi supply would come despite the fact that the Kingdom has reduced its official selling prices (OSPs) for crude loading in…