Post Tagged with: "Saudis"

Source: Reuters

Saudi voluntary oil cut to help with low demand in first quarter, OPEC chief says

Reuters


LONDON – Saudi Arabia’s voluntary oil production cut is set to help the oil market navigate through seasonally low oil demand during the first quarter, OPEC’s secretary general told an industry event on Wednesday.

Saudi Arabia, the defacto leader …

Source: Reuters

Oil hits 11-month high towards $57 as Saudi cut supports

Reuters


LONDON – Oil hit an 11-month high towards $57 a barrel on Tuesday as tighter supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus cases globally.

Saudi Arabia plans to cut output by an …

Source: Reuters

Oil hits 11-month highs on Saudi cuts, shrugs off U.S. turmoil

Reuters


NEW YORK  -Oil prices settled higher on Thursday, hitting 11-month peaks, as markets remained focused on Saudi Arabia’s unexpected pledge to deepen its oil cuts and firmer equities, shrugging off political turmoil in the United States.

Brent crude settled …

January 8, 2021 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Saudi’s surprise output cut to lift Brent to $60/bbl by mid-year – UBS

Reuters


UBS raised its forecast for Brent oil prices to $60 per barrel by mid-year, following Saudi Arabia’s surprise unilateral production cut and expectations of a sharp recovery in demand in the second quarter on vaccine rollouts and increased travel.…

Source: Reuters

Saudi calls on OPEC+ to be flexible as it weighs oil cut extension

Reuters


DUBAI/MOSCOW/LONDON – Saudi Arabia called on fellow OPEC+ members on Tuesday to be flexible in responding to oil market needs as it builds the case for a tighter oil production policy in 2021 to tackle weaker demand amid a …

Source: Reuters

Saudi’s June oil exports down $8.7 billion year-on-year

Reuters


DUBAI – The value of Saudi Arabia’s June oil exports was down 55% year on year, a drop of $8.7 billion, official data showed on Wednesday.

Compared with May, total exports – including non-oil exports of goods such as …

Source: Reuters

Oil prices up after Saudi pledge on cuts eases some glut fears

Reuters


LONDON  – Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during the coronavirus crisis.

Brent crude LCOc1 advanced 78 cents, …

Source: Reuters

Oil prices rise on Saudi voluntary cuts

Reuters


LONDON – Oil prices rose on Monday after leading exporter Saudi Arabia said it will reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, though gains were capped by fears …

Source: Houston Chronicle

Saudis to hike oil export to record 10 million barrels a day

Houston Chronicle


Saudi Arabia plans to boost oil exports even further from April to May, reaching a record of more than 10 million barrels a day as the kingdom taps a new field.

The increase in shipments of about 250,000 …