International

Rising climate activism in the West and widening use of alternative fuels are putting the strength of long-term oil demand under more scrutiny.

Aramco formally announced a plan this week to launch an IPO on its domestic exchange on Dec. 11.

US crude exports to China climbed as high as 469.000 b d in March 2018.

Plans for the IPO were first announced in 2016 as part of Saudi Arabia’s Vision 2030 economic overhaul programme.

OPEC will remain under pressure from rising U.S. oil output.

IPO is a key cornerstone in Saudi Arabia’s strategic plans to transform and modernise its national economy.

The oil giant will issue the IPO prospectus on November 9.

Brazil’s oil reserves are bigger than those of several OPEC members.

The officials agreed on Monday that any threat to oil facilities infringed on the interests of all countries of the world.

China is also opening its commodity futures markets to international investors in an effort to expand its currency'.s value. the yuan.