According to a Reuters report in Dubai on September 6, Saudi Arabia, the world's largest oil exporter, sharply cut its prices for all grades of crude oil to Asian customers in October, but prices for northwestern Europe and the United States remained stable. The sharp price cut comes as a...
"Voluntary OPEC + cuts led by Saudi Arabia have kept oil markets undersupplied for the past four months," said Solita Marcelli, UBS Global Wealth Management chief investment officer of Americas, adding: "So, while oil prices have rallied recently, oil markets look likely to remain in deficit ...
Saudi Arabia and UAE energy ministries have both agreed voluntary cuts to oil production until the end of the year. From May until the start of 2024 they will reduce output by 500,000 barrels per day and 144,000 respectively. Saudi Arabia’sMinistry of Energysaid that the Kingdom will impl...
Saudi Arabia will extend a cut in the amount of oil it sends to the world after a series of reductions by members of the OPEC+ alliance.
Oil prices ticked up today after Saudi Arabia confirmed plans of extending its voluntary supply cuts to August. Saudi Arabia to cut oil supply by 1 million bpd On Monday, the de-factor leader of the petroleum exporting countries said it will cut supply by one million bpd (barrels per day)...
Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a ba...
Saudi Arabia pledged to cut its oil output by 1 million barrels per day (bpd), or 10%, in July on top of existing output cuts from OPEC and its allies. With the new Saudi reduction, the group has agreed to take some 4.6 million bpd off the market in July, equivalent t...
The world’s biggest oil exporters, Russia and Saudi Arabia, have urged all members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to cut production.
Saudi Arabia’s energy minister has defended the kingdom’s decision to extend oil production cuts, insisting the move was not about “jacking up prices” even as crude futures push towards $100 a barrel. Riyadh and Moscow earlier this month announced they would prolongcuts to productionand exp...
for U.S. customers. Saudi Arabia cuts crude oil prices for U.S. customers.Saudi Arabia cuts crude oil prices for U.S. customers.Elass, Jareer