Post Tagged with: "Saudi Arabia"

Source: Reuters

France’s Macron tells Biden that UAE, Saudi pumping near oil limits

World Oil


(Bloomberg) — French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can.

The UAE is “at maximum” output …

Source: Reuters

U.S. welcomes OPEC+ supply hike, questions Saudi Arabia’s place in isolating Russia

World Oil


(Bloomberg) — OPEC+ agreed to open its oil taps faster in the summer months, a gesture of reconciliation to the U.S. that nevertheless keeps Russia at the heart of the cartel.

The White House welcomed the deal, which …

June 3, 2022 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Saudi Arabia’s making $1 billion from oil exports every day

World Oil


(Bloomberg) — Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production.

The value of crude exports, now almost $1 billion a …

Source: Reuters

Saudi Arabia leads OPEC decision to drop IEA data as US ties fray

Reuters


DUBAI – A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected concern about U.S. influence on the figures, sources close to the matter said, adding to strain on ties …

April 12, 2022 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Saudi Arabia emphasizes ‘essential role’ of OPEC+ oil accord

Nasdaq


March 22 – Saudi Arabia’s cabinet emphasised on Tuesday “the essential role” of the OPEC+ agreement in bringing balance and stability to oil markets, Saudi state news agency SPA reported.

The statement, a little over a week before OPEC+ …

Source: CNBC

OPEC members Saudi Arabia, Russia consider pausing oil production increases -WSJ

CNBC


LONDON — A group of some of the world’s most powerful oil producers will hold a crucial meeting on Thursday to discuss reversing some of the output cuts it made last year.

OPEC and its non-OPEC partners, an energy

Source Reuters

Saudi Arabia’s crude oil exports hit eight-month high in September

Reuters


Nov 18 – Saudi Arabia’s crude oil exports in September rose for a fifth month in a row to their highest since January, the Joint Organisation Data Initiative (JODI) said on Thursday.

The kingdom’s crude oil exports rose to …

Source: Reuters

Guyana grants Saudi Aramco unit one-year contract to market crude

Reuters


GEORGETOWN – Guyana has granted a unit of Saudi Arabian Oil Co, known as Aramco, a one-year contract to market the government’s share of the crude produced in the South American country, Vice President Bharrat Jagdeo told Reuters.

The …

September 17, 2021 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Saudi Arabia’s June oil exports rise 123% to over $16 billion

Reuters


DUBAI – The value of Saudi Arabia’s oil exports in June increased 123% to 61.5 billion riyals ($16.4 billion) from a year earlier while non-oil exports rose by around 41%, official data showed on Tuesday.

Overall exports increased by …

Source: CNBC

The Saudi Arabia-UAE rift that froze OPEC is a sign of things to come, experts say

CNBC


DUBAI, United Arab Emirates — The unexpected rift between Saudi Arabia and the United Arab Emirates within OPEC in early July came as a shock to many in the Gulf region and those watching from abroad.

The dispute over

Source: Reuters

Saudi Arabia may raise Sept crude prices for 2nd month

Reuters


SINGAPORE – Top oil exporter Saudi Arabia is expected to raise prices across various grades of crude oil it sells to Asia in September for a second straight month, tracking the strength in Middle East benchmarks, trade sources said.…

Source: CNBC

OPEC reportedly reaches compromise on oil production after dispute with UAE

CNBC


DUBAI, United Arab Emirates — The Organization of Petroleum Exporting Countries on Wednesday arrived at a deal after a nearly two-week standoff over its future oil production levels, according to reports by the Wall Street Journal and Reuters.…

Source: Bloomberg

Oil slips after reaching multi-year highs on OPEC+ dispute

Bloomberg


OPEC+ infighting has deprived the oil market of extra supply and sent crude surging to a six-year high in New York.

It’s too early to tell whether the breakdown of the cartel’s meeting on Monday could escalate into a

Source: Reuters

Aramco sees major hydrogen market forming amid historic pressure test for Big Oil

CNBC


Saudi Arabia’s oil giant Aramco is stepping up efforts to promote initiatives in hydrogen technology and investments to reduce carbon emissions, after a harrowing investor smackdown for Big Oil.

“Hydrogen is real,” Aramco Chief Technology Officer Ahmad Al Khowaiter …

Source: Reuters

Saudi’s April oil exports more than double yr/yr to $13.8 billion

Reuters


DUBAI – The value of Saudi Arabia’s oil exports in April climbed 109% to 51.7 billion riyals ($13.79 billion) from a year earlier while non-oil exports rose by 46.3%, official data showed on Thursday.

Oil exports made up 72.5% …

Source: Reuters

Saudi Arabia’s April crude exports slip to 10-month low

Reuters


Saudi Arabia’s April crude oil exports fell to their lowest level since June 2020, official data showed on Thursday.

Crude exports from the world’s top exporter slipped to 5.408 million barrels per day (bpd) from 5.427 million bpd in …

Source: CNBC

Russia and Saudi Arabia reject calls to end oil and gas spending, call IEA’s net-zero plan ‘unrealistic’

CNBC


LONDON — Two of the world’s largest oil-producing countries plan to defy the International Energy Agency’s recommendations and continue investing in oil and gas, rejecting calls to drastically scale back the use of fossil fuels despite a deepening climate …

Source: Reuters

Oil rises nearly 2% on U.S. vaccine rollout, Middle East tension

Reuters


NEW YORK – Oil prices rose nearly 2% on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites.

Crude prices have …

Source: Reuters

U.S. becomes India’s second biggest oil supplier, Saudi plunges to No. 4

Reuters


NEW DELHI – The United States overtook Saudi Arabia as India’s second biggest oil supplier after Iraq last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts, data from trade sources showed.…

Source: Reuters

OPEC expects most of 2021 oil demand recovery in second half

Reuters


LONDON – OPEC said on Thursday a recovery in oil demand will be focused on the second half of the year as the impact of the pandemic lingers as a headwind for the group and its allies in supporting …

Source: Reuters

Russia, Saudi Arabia at odds over output deal ahead of OPEC+ meeting: RIA cites source

Reuters


MOSCOW  – Saudi Arabia and Russia have differences over a potential deal among OPEC+ oil producers that could ease curbs on supply starting in April, a source told RIA news agency on Monday ahead of a meeting of the …

Source: Reuters

Tight oil market in first half could push crude to $65, says Goldman

Reuters


Oil prices could rise to $65 a barrel by July amid a tight oil market and slow rebound in demand, Goldman Sachs said.

The bank said in a note on Sunday data indicated a deficit of 2.3 million barrels …

Source: Reuters

Saudi Arabia pips Russia to be China’s biggest oil supplier in 2020

Reuters


BEIJING/SINGAPORE – Saudi Arabia, the world’s biggest oil exporter, beat Russia to keep its ranking as China’s top crude supplier in 2020, Chinese government data showed on Wednesday.

Oil demand in China, the world’s top oil importer, remained strong …

Source: Reuters

Oil extends gains after surprise Saudi output cut

Reuters


LONDON -Oil prices extended gains on Wednesday, rising to their highest since late February, after Saudi Arabia announced a big voluntary production cut, and as an industry report showed U.S. inventories fell last week.

Brent crude was up 31

January 6, 2021 - 9:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Saudi Arabia restores diplomatic ties with Qatar after three-year rift

CNBC


Saudi Arabia has reinstated diplomatic relations with Qatar, more than three years after Riyadh and several Arab countries severed ties with Doha.

Kuwait, a mediator for both sides, announced that Saudi Arabia is reopening its airspace, sea and land …

Source: Reuters

Oil jumps 5%, breaks above $50 for the first time since February as Saudi Arabia announces voluntary cuts

CNBC


U.S. benchmark West Texas Intermediate crude futures broke above $50 on Tuesday for the first time since February, boosted by a surprise announcement by Saudi Arabia of a 1 million barrel per day production cut beginning in February and …

January 5, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Saudi Arabia and Russia in tight race to become China’s top oil supplier in 2020

Reuters


SINGAPORE  – Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil …

Source: Reuters

Saudi Arabia’s IPO pipeline looks ‘quite busy’: CMA chairman

Reuters


DUBAI/RIYADH – Since Aramco’s record listing last year, Saudi Arabia has seen a big increase in the number of companies looking to make their stock market debut in the kingdom, according to the head of the Capital Market Authority …

November 4, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News, Pipeline News
Source: Reuters

Column: OPEC+ set for a three-month output rollover – John Kemp

Reuters


LONDON – Saudi Arabia and Russia will probably agree to extend their oil production cuts and postpone planned increases when they meet for talks with their OPEC+ partners at the end of November.

For tactical reasons, both countries are …

Source: Reuters

Saudi crude exports rise to 5.97 million bpd in August: JODI

Reuters


Saudi Arabia’s crude oil exports rose for a second consecutive month to 5.97 million barrels per day (bpd) in August, from 5.73 million bpd in July, official data showed on Monday.

The country’s crude output rose by 500,000 bpd …

October 19, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC