Second-quarter profit experiences significant decline
Saudi state oil giant Aramco reported 112.81 billion riyal ($30.07 billion) in net profit in the second quarter, a drop of nearly 40% from the same period of last year …
Oil and Gas
Russian oil export hub attack and Saudi-Russia cuts trigger surge in oil prices
Bill Ross | The Image Bank | Getty Images Oil prices surged Monday to their highest since mid-April, following an attack on a key Russian oil export hub and extended …
Saudi Arabia to Extend Voluntary Cut in Oil Production by 1 Million Barrels per Day
Anton Petrus | Moment | Getty Images Heavyweight producer Saudi Arabia will extend a 1 million barrel per day voluntary crude oil output cut into September, in the third month …
Pioneer’s Robust Quarterly Performance Conceals Its Greatest Highlight
Pioneer Natural Resources (PXD) reported strong second-quarter profits and cash flow after the bell Tuesday, but favorable revisions to its guidance shined the brightest. Pioneer’s oil-and-gas revenue totaled $2.98 billion, …
Significant Decrease in Profit Attributed to Declining Oil and Gas Prices
The BP logo is displayed outside a petrol station near Warmister, on August 15, 2022 in Wiltshire, England. Matt Cardy | Getty Images News | Getty Images LONDON — Oil …
Saudi Arabia’s economic growth decelerates due to oil production cuts and plummeting prices
Cityscape of Saudi capital Riyadh. Harri Jarvelainen Photography | Moment | Getty Images Saudi Arabia’s economy slowed in the second quarter, as crude output cuts and a drop in oil …
Energy stocks benefit as oil prices rally
A long-awaited rally in crude oil prices has helped the Club’s three oil-and-gas companies become some of our top-performing stocks over the past month. And with new signs the commodity …
Oil prices set to drop as OPEC+ alliance breaks
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman speaks during the 8th OPEC International Seminar in Vienna, Austria, July 5, 2023. Xinhua News Agency | Xinhua News Agency | Getty …
Shell, the oil giant, reports $5.1 billion in profit for the second quarter.
General view of the Shell logo. Picture Alliance | Picture Alliance | Getty Images LONDON — British oil giant Shell on Thursday reported a 47% year-on-year drop in second-quarter profit, …
Let the Good Times Roll
People walk near the New York Stock Exchange on July 18, 2023 in New York City View Press | Corbis News | Getty Images This report is from today’s CNBC …