saudi arabia

Crude Oil Prices Will Increase Through 2024 As Demand Rises Above Supply — EIA Forecast

We forecast higher crude oil prices in the second half of 2023 and into 2024 in our latest Short-Term Energy Outlook (STEO) because of moderate but persistent inventory drawdowns. Inventory drawdowns take place when demand for a commodity is greater than the supply of that commodity. We expect production cuts from … [continued]

Image: Electric motorcycles made in Kenya by Roam. Image courtesy of Roam

Kenya Signs Deals To Import Fossil Fuels On Credit For 6 Months To Relieve Pressure…

Kenya recently signed some deals with firms from Saudi Arabia and the United Arab Emirates (UAE) to supply diesel, petrol, and jet fuel on credit for the next 6 months to ease mounting  pressure on the demand for foreign currency as well as to try to stem the Kenya shillings … [continued]