Oman Navigates Oil Export Challenges Amidst Changing Global Dynamics
Oman, a significant player in the global oil market, is facing changing dynamics in its oil exports. The sultanate’s oil exports witnessed a 5.7% decline in the first seven months of 2023, primarily due to reduced shipments to India, a vital trade partner. The drop in exports to India by 90.1% is emblematic of shifting global trade preferences and the impact of geopolitical changes. On the other hand, Oman’s exports to China surged by 12.8%, emphasizing the strategic importance of maintaining strong relationships with key partners. Amidst these fluctuations, Oman’s stable oil production underscores its resilience in a volatile energy landscape.
Oil gains as risk of Iran supply resumption recedes
Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran.
Mexican auto parts lobby sees chip supply crunch over by December
Mexico’s main autopart association INA forecasts that the severe semiconductor chip shortage that has slammed the brakes on the global auto industry will subside in July and return to normal by the end of this year.
Amid hiring troubles, rising prices, U.S. growth gains speed -Fed
The U.S. economic recovery accelerated in recent weeks even as a long list of supply chain troubles, hiring difficulties, and rising prices cascaded through the country, Federal Reserve officials said in their latest review of economic conditions.
Russia considers supplying 1 million vaccine shots to Armenia – RIA
Russia’s Foreign Minister Sergei Lavrov said on Thursday that Russia was considering supplying 1 million shots of the Sputnik V coronavirus vaccine to Armenia, the RIA new agency reported. Russia had already sent 15,000 doses of the vaccine to the former Soviet republic last month, Lavrov was quoted as saying at a meeting with his […]
U.S. House panel discusses low-carbon fuel with airline, biofuel industries
Members of a U.S. House of Representatives subcommittee met on Tuesday with representatives from the biofuels and airline industries to discuss ways to expand production of low-carbon aviation fuel, the subcommittee chair told Reuters. The meeting is part of a broader push by lawmakers to advance climate and energy legislation amid calls by U.S. President […]
India to increase oxygen supplies amid shortage -govt
At least 22 patients died on Wednesday in a hospital in western India after a disruption to their oxygen supply caused by a leaking tank, the health minister said, as a nationwide surge in coronavirus cases soaks up supplies of the crucial gas. The incident in the city of Nashik, one of India’s worst-hit areas, […]
