In its May Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) warns that global oil consumption growth is losing steam.

Kuwait's state-owned oil company has taken a major step in Southeast Asia. Through its subsidiary Kufpec, it has received the green light from the Indonesian government to move forward with the development of the Anambas gas field, a project located in the promising Natuna Basin.

In a strategic move to deepen ties with U.S. industries, Saudi Aramco announced 34 preliminary agreements with major American companies