China is hoarding cheap oil in a fleet of supertankers

As Middle East oil producers drive prices lower and make life difficult for the U.S. fracking industry, one clear winner is emerging: China The world's second-largest economy become the top oil importer in April. The key reason? China is taking advantage of cheap oil to boost its strategic reserves.

Why Is Oil Price So Stubbornly High, Asks Goldman Sachs

Goldman Sachs has a problem with the oil rally. In a morning note, the oil bear tried to explain why we are seeing a recent rally even though its fundamentals are bad.

Kuwait wealth fund had $261 billion assets in March 2012: paper

KUWAIT (Reuters) - A rainy day fund managed by Kuwait Investment Authority (KIA) had assets currently worth more than $261 billion at the end of March last year, a local newspaper reported on Sunday citing a government audit.

Libya: Spending oil money across the globe

NEW YORK (CNNMoney) -- In the span of a few years, Libya's financial tendrils have reached across oceans, across borders and across continents.

The U.S., the U.K., Switzerland and the European Union recently moved to freeze billions of dollars of Libyan assets, as the violence and chaos spread.