International

Saudi Exports Surge on Higher Oil Prices

Saudi exports surged in October on the back of higher oil prices, which hit a 2021 peak during that month. Saudi Arabia exported goods and commodities worth a total $28 billion in October, according to the Kingdom’s General Authority for Statistics, as cited by Bloomberg. Crude oil accounted for 77.6 …

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Turkey’s Oil Imports up 22.3% in October

Turkey’s total oil imports increased by 22.3% on an annual basis to 4.20 million tons in October, according to data released by the country’s energy watchdog on Thursday. Crude oil imports, the category with the highest oil import volume, rose by 24.2% in October to 2.89 million tons, the Energy …

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OPEC+ Agreement Essential for Oil Market Stability

Saudi Arabia’s King Salman said the OPEC+ production agreement was “essential” for oil market stability and urged all participating countries to comply with the pact. Oil market stability and balance are pillars of Saudi energy policy as crude supports the growth of the global economy, King Salman said in an …

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Big Oil’s Spending Plans for 2022

The global upstream sector is set for a rebound next year, when overall investment in exploration and production is expected to exceed $400 billion for the first time in three years. Yet, despite record high cash flows and oil at over $70 a barrel, reinvestment rates will stay at near …

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EIA: U.S. Upscale Crude Imports from Iraq

Despite its decreased appetite, U.S. imports of crude oil from Iraq jumped to 359 thousand barrels per day (bpd) last week, the Energy Information Administration (EIA) said this weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. imports averaged 5.234 million bpd this week, down …

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New leader in LNG Exports about to Emerge

The US is set to boost its liquefied natural gas (LNG) capacity, once two new liquefaction units become operational late next year. This would enable the country to overtake Australia and Qatar as the world’s top LNG exporter. The US Energy Information Administration expects the country’s LNG export capacity to …

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