About Crude Oil
Grangemouth oil refinery to cease operations by 2025
... It was one of the first Crude Oil refineries in the UK...
Shell posts $6. 2bn profit as oil prices rise again
... Earlier this week, the World Bank warned that the conflict in the Middle East could push the price of Crude Oil up to $150 a barrel - compared to $85 today...
Oil prices rally on fear of Middle East supply disruptions
... Opec+ accounts for around 40% of the world s Crude Oil and its decisions can have a major impact on oil prices...
Petrol prices rise for fourth month in a row - RAC
... Oil prices have risen in response, with Brent Crude Oil - a major ingredient in motor fuel - rising above $90 a barrel on Tuesday...
Oil cartel leader warns of prolonged high prices
... Opec+ is a group of 23 oil-exporting countries which decides how much Crude Oil to sell on the world market...
Lego axes plan to make bricks from recycled bottles
... The company that it aimed to produce bricks not containing Crude Oil within two years...
Global oil prices surge to 10-month high
... Over the last few years households have been hit by higher fuel and energy bills, while businesses have put up prices to cope with rising costsPetrol and diesel prices have jumped in recent months, and further rises could lie ahead due to Crude Oil being the main component of fuel, motoring groups say...
How India overcame bitter G20 divisions over Ukraine
... Crucially, the declaration did not mention any targets on reducing the use of Crude Oil, and instead focused on phasing out the use of coal...
Shell posts $6. 2bn profit as oil prices rise again
Oil and Gas Giant Shell has posted strong profits helped by oil prices rising again.
The energy giant reported earnings of $6. 2bn (£5. 1bn) between July and September, up sharply on the previous quarter.
Profits were down from $9. 4bn in the same period Last Year , however, when Russia's invasion of Ukraine caused a spike in oil and gas prices.
Oil prices are currently lower than that period, but have risen recently.
That is largely due to members of the Opec+ group of oil-producing nations cutting output to support The Market .
Earlier This Week , the World Bank warned that The Conflict in the Middle East could push The Price of Crude Oil up to $150 a Barrel - compared to $85 today.
Shell said its earnings in The Past three months were up 23% on the previous quarter.
It said it had benefitted from higher oil prices and pumping more oil and gas, along with making more money from refining and gas trading.
Oil prices surged in 2022 before falling back earlier this year, leading to lower profits at energy firms.
However, the cost of Crude Oil has moved upwards again since the production cuts in the summer.
Members of Opec+, led by Saudi Arabia and Russia, brought the cuts in due to concerns about weakening global demand.
Moscow also blamed Western " interference with market dynamics" referring to the cap on Russian oil brought in following its invasion of Ukraine.
Related TopicsSource of news: bbc.com