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Tag Archives: global oversupply

Kuwait oil unions end 3-day strike over government cutbacks

KUWAIT CITY (AP) — Oil unions in Kuwait ended a three-day strike over government cutbacks, authorities said Wednesday, though it remained unclear what concessions may have been granted to the workers amid low global crude prices. The state-run Kuwait News Agency reported that the unions ended the strike by praising the country’s ruling emir, Sheikh Sabah Al Ahmad Al Sabah, ...

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Kuwait oil workers go on strike to protest cutbacks

kuwait oil workers

KUWAIT CITY (AP) — Oil workers in Kuwait went on strike Sunday to protest proposed government cutbacks as the OPEC nation grapples with a prolonged slump in crude prices. Thousands of workers gathered for demonstrations at the start of the local workweek in the town of Ahmadi, where the state-run Kuwait Oil Co. has its headquarters, some 40 kilometers (25 ...

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Asian stocks lifted by optimism on oil prices, Wall Street

TOKYO (AP) — Asian stocks logged solid gains Wednesday, cheered by a rally on Wall Street, although oil prices erased some of the recent big gains that had relieved among global investors. KEEPING SCORE: Japan’s benchmark Nikkei 225 added 2.6 percent to 16,341.01 in morning trading. Hong Kong’s Hang Seng gained 2.3 percent to 20,970.31, while the Shanghai Composite index ...

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Iraq’s oil exports in February fall below planned levels

An Iraqi oil export terminal in Al Basra. (Image via Pixabay - CC0)

BAGHDAD (AP) — Iraq’s Oil Ministry said Tuesday that crude exports averaged 3.225 million barrels a day in February, far below levels planned to provide the nation with badly needed cash for ongoing military operations against Islamic State extremists. Last month exports grossed about $2.2 billion, based on an average price of about $23 per barrel, ministry spokesman Assem Jihad ...

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Wyoming GOP holds caucuses amid coal, regulation worries

The Wyoming State Capitol in Cheyenne. (Image: Jimmy Emerson DVM via Flickr)

CHEYENNE, Wyo. (AP) — Republicans taking part in Wyoming’s final clutch of precinct caucuses Tuesday are agitated amid energy industry downturns that have stunted the state economy and federal regulations they believe are holding back growth. The state’s overwhelmingly dominant party has been caucusing since mid-February to begin figuring out which GOP candidate would be most likely to turn things ...

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