Tag Archives: Saudi Arabia

OPEC leader Saudi Arabia dismissed calls for speedier oil output increases on Thursday, saying its efforts with allies were enough and protecting the oil market from the wild price swings seen in natural gas and coal markets. “What we see in the oil market today is an incremental (price) increase …

Saudi Aramco has tapped banks to arrange a loan with a size between $12 -14 billion, which it plans to offer to buyers of its gas pipeline network, sources told Reuters. According to the sources, banks that financed a $12.4 billion acquisition of the company’s oil pipelines earlier this year …

Petrodollars are once again flowing in for Saudi Arabia. The kingdom is earning more money from oil exports than at any time since 2018, as the global economic recovery and OPEC+ production cuts boost prices. The producers’ cartel meets on Monday and has signaled it will continue with a gradual …

Saudi Basic Industries Corp., majority owned by Saudi Aramco, said Sept. 19 that its petrochemical joint venture with ExxonMobil near Corpus Christi, Texas, started commissioning ahead of its expected fourth-quarter start-up. The Sept. 19 confirmation follows a tour of the facility in August when the plant manager, Paul Fritsch, said …

Saudi Arabia’s crude oil exports in July rose to their highest since January, the Joint Organization Data Initiative (JODI) said on Sepy. 16. The Kingdom’s crude oil exports rose to 6.327 million barrels per day (bpd) in July, up from 5.965 million bpd in June. Total exports including oil products …

On Tuesday, oil prices were mixed following recent losses with some investors snatching up bargains. But concerns over slower demand grew after Saudi Arabia cut crude prices sharply for Asia. Demand woes grew after Saudi Aramco announced it would cut official selling prices (OSPs) by at least $1 per barrel …

Oil was down Monday morning in Asia. The black liquid extended its losses after Saudi Arabia cut crude prices for Asia over the weekend amid an uncertain fuel demand outlook. Brent oil futures slid 1.06% to $71.84 by 11:50 PM ET. Crude oil WTI futures fell 1.02% to $68.58, remaining …

Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels. Saudi Arabia cut oil prices for sales to Asia next month by more than …

Saudi Arabia could not ship more crude oil in the first half as it voluntarily restrained output under OPEC+ production-cut agreement; however, high oil prices this year helped the Kingdom to see stable income. The Kingdom’s crude oil exports averaged 5.776 million barrels per day (bpd) in the first half …

Saudi Arabia maintained its position as China’s top crude oil supplier for the ninth month in July, Reuters reported, citing data from the General Administration of Customs in China. Shipments from Saudi Arabia totaled 6.69 million tons in July, or 1.58 million barrels per day (bpd), compared with 1.75 million …