Russia: Thousands of people are forced to flee a region affected by flooding due to dam bursts
According to a Russian news source that cited the plant's press department, the Orsk oil refinery in Russia stopped operating on Sunday after the city's dam broke on Friday night, flooding the nearby Orenburg area. See to learn more.
Natural gas prices fall sharply, hurting the oil sector's balance sheets.
A significant decline in natural gas prices from a year ago has resulted in lower first-quarter results for US and European oil majors. After reaching all-time highs in 2022 due to a combination of rising prices following Russia's invasion of Ukraine and a jump in demand following the COVID-19 pandemic, oil and gas companies' results are now declining.
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