Tag Archives: Saudi Arabia

Russia refuses to open negotiations with Saudi Arabia, which is flooding world markets with cheap oil in a brazen attempt to punish Russia for rejecting substantial oil production cuts that would have steadied sinking oil prices. Saudi Arabia has made huge cuts to its official selling prices for oil. Arab …

Saudi Arabia is unleashing a wave of crude toward Europe, traditionally the backyard for Russian oil sales, pledging to supply regional refineries with as much as triple their usual intake from the kingdom. The Saudi shipments, coupled with unprecedented discounts, are turning the European oil market into the most bitterly …

Saudi Arabia ordered state-run oil producer Aramco to boost the kingdom’s output capacity by 1 million barrels a day, the latest escalation in a battle for control of the global petroleum market.

Saudi Arabia is set to hike its crude oil supply to a record high, flooding markets as it continues to escalate a trade war with Russia. The kingdom will up its supply to an unprecedented height of 12.3 million barrels per day in April, said Amin Nasser, CEO of Saudi …

Oil has plunged nearly 30% as Saudi Arabia cut its official selling price (OSP) after OPEC’s supply cut pact with Russia collapsed. Over the weekend, Saudi Arabia had cut its OSP for April for all crude grades to all destinations by between $6 and $8 per barrel. The world’s second-largest …

Prices will fall until either Moscow or Riyadh call off the endurance contest.

Saudi Arabia plans to increase its crude oil output next month to more than 10 million barrels a day in response to the collapse of its OPEC+ alliance with Russia, Bloomberg News reported on Saturday. Brent slid to its biggest daily loss in more than 11 years on Friday after …

Russia's oil output increase will now hinge on companies' plans.

The oil market now faces double jeopardy.

The most immediate pain is likely to be felt in the US shale industry.