Yahoo NEW DELHI – Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the effects of Western sanctions. Russia has been hit by a slew of sanctions from the United States and its allies
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 and neighboring Saudi Arabia can promptly add only about 150,000 barrels a day, Macron said, relaying a conversation with Sheikh
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 came after months of diplomatic pressure on Saudi Arabia to mitigate the surge in energy prices that’s battered the economy
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 day, increased by 123% year on year, the kingdom’s statistics office said. Saudi Arabia’s crude production rose to 10.3 million
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 between Riyadh and Washington. The Organization of the Petroleum Exporting Countries and allies including Russia, a group referred to as
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+ is scheduled to meet, indicates little chance the grouping will decide to raise oil output at a faster pace. Several
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 alliance sometimes referred to as OPEC+, will convene via videoconference in a bid to reach consensus over how to manage
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 6.516 million barrels per day (bpd) in September, up from 6.450 million bpd in August. Total exports including oil products
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 country in early September had awarded Aramco a contract to market a cargo scheduled for Sept. 21-22. Natural Resources Minister
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 nearly 92% in June compared to a year earlier when international trade was curbed by lockdowns and travel disruptions related
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 oil production levels temporarily froze the group’s ability to lay out their plans for the markets, sending crude prices upward. But
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. The September official selling price (OSP) for Arab Light crude may rise by 36 cents a barrel on average after
