Tag Archives: Saudi Arabia

Russia’s share of the Indian oil market is growing at the expense of Saudi imports, Bloomberg has reported, noting Russian oil has been selling at a sizeable discount to Saudi crude. Russia became the second-biggest oil supplier to India in June, after Iraq, which remained the biggest oil supplier to …

Saudi Arabia will raise the price of exported oil for buyers from the US and Asian countries in September, Dow Jones reported citing a press release from state company Saudi Aramco. The price of Arab Light, the main grade supplied to Asia, will increase by $0.5 a barrel. As a …

OPEC+ agreed today, Aug. 3, to raise the production target for September by 100,000 barrels per day (bpd), Reuters reported, citing a member of the group. The decision came during the OPEC+ Joint Ministerial Monitoring Committee’s meeting today, headed by Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud. The …

As the OPEC+ group prepares to roll back all production cuts by the end of next month, analysts and the market are searching for the answer to the million-dollar question shrouded in mystery: How much more oil can Saudi Arabia actually produce? And how much into spare capacity is the …

Iraq and Saudi Arabia are working on sending their crude oil to Europe in an effort to help the continent’s oil refineries which are desperately trying to give up the oil supplies from Russia. According to a report recently published by Bloomberg, more than one million barrels per day of …

Saudi Arabia expects to have freed up to 1 million barrels per day (bpd) of oil for exports by 2030 by cutting its direct oil use in power generation as it looks to replace petroleum liquids with gas-powered generation and renewables, Energy Intelligence reports, quoting industry sources. Saudi Arabia relies …

Saudi Arabia and Iraq are helping Europe wean off of Russian crude, which is increasingly headed to Asia, as Vladimir Putin’s war on Ukraine reshuffles the global energy market. Europe has imported more than 1 million barrels per day via the SuMed pipeline in the first three weeks of July, …

Saudi Arabia has limited additional crude oil production capacity, Wall Street Journal sources revealed on Wednesday. The sources, who are said to be familiar with Saudi Arabia’s oil production capabilities, were not named. The mystery surrounding Saudi Arabia’s crude production capabilities has grown in recent weeks amid a tight oil …

Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al-Saud said that oil was not discussed at a U.S.-Arab summit held on Saturday, and that OPEC+ would continue to assess market conditions and act as necessary. “There was no oil discussion at the summit,” Prince Faisal told a news conference, adding …

Russian fuel oil exports to Saudi Arabia rose almost twofold during the second quarter as the Saudis sought to free up more local crude for export while using the discount imports for power generation. According to Reuters data, Saudi Arabia imported some 647,000 tons of Russian fuel oil between April …