SINGAPORE (Reuters) - Top oil exporter Saudi Arabia may cut prices for crude grades it sells to Asia for a second month in August, tracking weakness in Middle East benchmark Dubai, trade sources said on Friday. The potential price reduction for Asia, which accounts f...
The settlement price of the Brent crude oil futures main contract was $76.12 per barrel, a decrease of $2.64 or 3.4%. The main reason is that Saudi Arabia's comprehensive reduction in crude oil prices has raised concerns about future energy demand in the market, as well as increased ...
NEW YORK, Sept. 16 (Xinhua) -- The attacks on Saudi Arabia's key oil facilities have led to a surge in global oil prices, but experts said the incident might only have a short-term influence on the market and have a limited impact on global economy. The drone attacks were reported at...
Oil slumped, reversing earlier gains, on news Saudi Arabia will give up on its price target in preparation for raising output.
Oil prices came off their peaks after PresidentDonald Trumpauthorized the use of the country’s emergency stockpile to ensure stable supply. ‘Difficult’ to predict magnitude of price rally Saudi Aramcoreportedlyaims to restore about a third of its output, or 2 million barrels, by Monday. The ...
The potential price reduction for Asia, which accounts for about 80% of Saudi’s oil exports, underscores the pressure faced by OPEC producers as non-OPEC supply continues to grow while the global economy faces headwinds. The official selling price (OSP) for flagship Arab Light crude sold t...
Saudi Arabia’s controversial oil price war has wreaked havoc on the oil market, and it may be backfiring on the Kingdom already
News in-depthSaudi Arabia Saudi Arabia’s ‘prickly prince’ of oil bristles as crude price slides Opec has faced criticism for its alliance with Russia following the full-scale invasion of Ukraine last year, and for trying to prop up prices during an energy crisis triggered by Moscow’s acti...
The article reports that Saudi Arabia's King Abdullah has said that oil prices would not fall further even if production were increased. Abdullah said that speculation and taxes have fueled the price hike.GrahamTaylorWorld Refining & Fuels Today...
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