Latest news and articles about oil pricing from NEX English
Energy Minister Akanat Promphan announced plans to reform the country's refining margin mechanism to ensure fairer pricing for consumers. This initiative is part of the government's efforts to address the escalating energy crisis.
Global oil markets are experiencing turmoil due to the ongoing war in Iran, prompting Asian buyers to urge Saudi Arabia to adopt new pricing mechanisms. This comes at a time when oil prices are rising unprecedentedly.
Despite China's ongoing efforts to promote the use of the yuan in oil pricing, the US dollar continues to hold its position as the primary reference in the global market. This situation raises questions about the factors preventing the petro-yuan from achieving a similar status.