Saudi Arabia’s economy is set to grow by 3.0% this year, a rebound from meager 1.3% growth in 2024, but lower than a previous forecast of 3.3% GDP growth, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) Update on Tuesday. Saudi growth for 2026 was also …
Read More »Saudi Arabia’s Crude Oil Exports Jumped by 500,000 Bpd in February
Saudi Arabia’s crude oil exports jumped by nearly 500,000 barrels per day (bpd) in February compared to January, the latest data from the Joint Organizations Data Initiative (JODI) showed on Tuesday. Crude exports from the world’s biggest crude exporter averaged 6.547 million bpd in February, up from 6.073 million bpd …
Read More »Saudi Arabia’s next Move could Hit Oil Prices Hard
Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May–equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs …
Read More »Saudi Arabia Slashes Oil Prices ahead of Output Boost
Saudi Arabia cut the official selling prices for its oil sharply ahead of a production boost set for next month. The sharpest cut was made for the price of oil sold in Asia, with flagship Arab Light set to be $2.30 per barrel cheaper in May, at a premium of …
Read More »Saudi Arabia Set to Slash Oil Prices to Asia amid Falling Benchmarks
Saudi Arabia, the world’s top crude oil exporter, is expected to slash the price of its oil loading for Asia in May to the lowest level in three months amid a slide in regional benchmarks, a Reuters survey of Asian refining and trading sources showed on Friday. Saudi oil giant …
Read More »Saudi Crude Supply to China Set for One Year Low in April
Despite the expected rise in OPEC+ production in April, Saudi Arabia is set to ship significantly lower crude oil volumes to China next month to levels not seen in over a year, Reuters reported on Thursday, quoting trade and industry sources. Spring maintenance at some large state-controlled refineries in the …
Read More »Saudi Arabia Cuts Oil Prices for Asia as OPEC+ Output Inches up
Saudi Arabia just dialed back its crude prices for Asia, according to Aramco’s just-published rate sheet. The company has trimmed official selling prices (OSPs) for the first time in three months, with Aramco’s April price sheet now showing Arab Light at $3.50 per barrel over Oman/Dubai, a 40-cent cut. That’s …
Read More »Saudi Crude Oil Exports Dropped in December from 7-Month High
Saudi Arabia’s crude oil exports fell in December by 60,000 barrels per day (bpd) from the seven-month high in November, the latest data from the Joint Organizations Data Initiative (JODI) showed on Tuesday. In November, Saudi crude oil exports jumped by 281,000 bpd to 6.21 million bpd—a seven-month high, according …
Read More »Saudi Arabia to Become Global Data Hub Exporting Data
Saudi Arabia plans to treat data centers within the Kingdom with the same level of protection as embassies, Finance Minister Mohammed Al Jadaan said, as the kingdom seeks to position itself as a global hub for data exports rather than oil. Al Jadaan highlighted concerns from European and American stakeholders …
Read More »Saudi Oil Giant Aramco to Invest in Lithium Production
The world’s top crude oil exporter, Saudi Aramco, is set to announce on Wednesday a push to invest in lithium production and developments to capture part of the supply chain and diversify from oil, sources close to the largest oil firm globally told the Financial Times. The move to boost …
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