Tag Archives: Saudi Arabia

Saudi Arabia said on Tuesday the COVID-19 outbreak has made predicting the oil market “increasingly challenging,” warning that oil market fluctuation is a major challenge for the economy. The world’s biggest oil exporter has cut oil output this year as part of a deal with OPEC and other producers to …

Oil prices rose on Monday, pushing Brent back above $50 a barrel, buoyed by hopes that a rollout of coronavirus vaccines will lift global fuel demand while a tanker explosion in Saudi Arabia jangled nerves in the market. Brent crude futures for February rose 67 cents, or 1.3%, to $50.64 …

Saudi Arabia raised oil pricing for customers in its main market of Asia after optimism over coronavirus vaccines caused crude prices to climb to an eight-month high last week. The increase, the biggest in five months, indicates the world’s largest oil exporter is confident global energy demand is strong enough …

Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd. In the week to November 27 alone, the volume of Saudi oil shipments to the US fell to as little as 73,000 bpd. The average daily volume …

Aramco President and CEO Amin Nasser was recognised by his peers in the global chemical industry as he was presented The Chemists’ Club 2020 Kavaler Award, sponsored by ICIS. Speaking at the virtual event, Nasser commented on the challenges of 2020, his belief in a bright future for the chemical …

OPEC+ was discussing a proposal to gradually ease its oil-output cuts next year, seeking to resolve divisions that emerged at the core of the cartel over several days of fractious negotiations. Talks were focused on a proposal for the cartel to add 500,000 barrels a day to the market in …

Saudi Arabia’s Minister of Energy Prince Abdulaziz Bin Salman affirmed that there is no disagreement between oil producers, describing this disagreement as rumors. Talks were successful, Prince Abdulaziz said on the sidelines of the 12th OPEC and non-OPEC Ministerial Meeting held yesterday, adding that a monthly meeting will be held …

Saudi Arabia and Russia summoned the OPEC+ alliance for last-minute talks on Saturday, just before it’s due to decide whether to delay January’s output increase. A clear majority of OPEC+ watchers expect the group to maintain their supply curbs at current levels for a few months longer due to lingering …

The pushback from the UAE over historic supply cuts brought in to offset the fallout from the pandemic comes at a delicate moment for OPEC, threatening the brittle coalition and an already weakened oil market. The news of COVID-19 vaccines alongside the highest oil price since September has lifted sentiments …

Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil this year. Saudi Arabia, which was China’s top supplier last year, has exported …