ENERGY

In 2022 oil prices peaked at more than $100 per barrel, hitting an eight-year high, after a full year of turmoil in the energy markets in the wake of the Russian invasion of Ukraine.

Oil companies doubled their profits and the economies of the biggest oil producers in the world got a major boost.

But which countries are responsible for most of the world’s oil supply? Using data from the Statistical Review of World Energy by the Energy Institute, Visual Capitalist's Pallavi (more…)

Authored by Neil Chatterjee via RealClear Wire,

In 1932, Americans were doggedly trudging through year three of the Great Depression when a candidate for president spoke of “the human importance of electric power in our present social order … It lights our homes, our places of work and our streets. It turns the wheels of most of our transportation and our factories. In our homes it serves not only for light, but it can become the willing servant of the family in countless ways … (more…)

Authored by Tsvetana Paraskova via OilPrice.com,

Tightening global crude supply and rising international prices have raised the price at which Russia’s crude is being sold to India at about $20 per barrel over the G7 price cap of $60, traders have told Reuters.

The Russian flagship crude grade, Urals, is being sold to one of Moscow’s top customers, India, at nearly $80 per barrel now, or around 30% above the price cap set by the G7 and the EU if Russian crude shipments to (more…)