Saudi To Supply Additional Crude TO Some Asian Refiners In Nov – Sources

PARIS, France – Saudi Aramco has agreed to supply additional crude to at least three Asian buyers in November, while meeting full contractual volumes for four others, sources with knowledge  of the matter said on Monday. Full supply volumes were expected for the month, one of the source said. The world’s top oil exporter has … More Saudi To Supply Additional Crude TO Some Asian Refiners In Nov – Sources

OPEC Meets On Output Increase As Oil Prices Rally

OPEC and its allies meet on Monday to debate how much oil to release into the red hot market, where supply disruptions and recovering demand from the coronavirus pandemic have pushed oil above $80 per barrel. The oil price rally to three – year high is exacerbated by an even bigger increase in gas prices, … More OPEC Meets On Output Increase As Oil Prices Rally

Top White House Aide Discussed Oil Prices With Saudi Arabia

Washington – A senior aide to President Joe Biden raised the issue of oil prices in conversations this week with the leadership of top crude producer Saudi Arabia, according to the White House. Biden’s national security adviser, Jake Sullivan, met in Saudi Arabia with Saudi Crown Prince Mohammed bin Salman on Tuesday to discuss the … More Top White House Aide Discussed Oil Prices With Saudi Arabia

Oil Down After Deep Saudi Cuts Spur Demand Concerns

London – – Oil prices fell on Monday, extending losses after the world’s top exporter Saudi Arabia slashed crude contracts prices for Asia over the weekend, reflecting well – supplied global markets and concerns over the outlook for demand. Brent crude futures for November fell 49 cents, or 0.67 to $72.12 per barrel by 1042 … More Oil Down After Deep Saudi Cuts Spur Demand Concerns

MIDEAST STOCKS Oil Prices Aid Saudi Shares; Other Gulf Bourses Mixed

Paris/France – – Saudi Arabia shares gained in early trade on Tuesday following a rise in crude prices on demand hopes, while other major markets traded mixed. Brent crude oil futures were up 46 cents, or 0.7% to $69.21 a barrel by 0648GMT, after the U.S. drug regulator granted dull approval to the Pfizer Inc./BioNTech … More MIDEAST STOCKS Oil Prices Aid Saudi Shares; Other Gulf Bourses Mixed

Oil Prices Fall As Coronavirus, Floods Threaten Demand

Oil prices fell on Monday as concerns about fuel demand from the spread of COVID-19 variants and floods in China offset expectations of thight supplies though the rest of the year. Brent crude future for September fell 44 cents, or 0.6% to $73.66 a barrel by 0432GMT while U.S. Texas Intermediate crude was at $71.62 … More Oil Prices Fall As Coronavirus, Floods Threaten Demand

Saudi Arabia Expected To Raise July Light Crude Prices For Asia – Survey

Top oil exporter Saudi Arabia is expected to slightly increase its July official selling prices (OSPs) of light crude for Asia, as margin weakness and demand uncertainty cap the upside despite stronger crude benchmarks, a Reuters survey showed. Sources at five Asian refiners on average expected the July OSP for Saudi flagship grade Arab Light … More Saudi Arabia Expected To Raise July Light Crude Prices For Asia – Survey

Oil Falls On OPEC+ Concerns Over Slow Demand Recovery

Oil prince fell on Wednesday on concerns about the market’s recovery after OPEC and its allies lowered its 2021 demand growth forecast, although strong Chinese factory activities lent some support. Brent crude for May, which expires on Wednesday, fell 32 cents, or 0.5%, to $63.82 a barrel at 0948GMT. The more active Brent contract for … More Oil Falls On OPEC+ Concerns Over Slow Demand Recovery

Sustained Higher Oil Prices To Spur U.S. Output Growth – JP Morgan

Sustained higher oil prices are expected to spur higher U.S. oil output this year, JP Morgan analysts said in a weekly note. ‘At current prices, most U.S. onshore operators are economic, leaving a vast group  of operators, from large public companies to private players, in good position to ramp up activity in 2h21 and build … More Sustained Higher Oil Prices To Spur U.S. Output Growth – JP Morgan

BUSINESS| Oil Drops As OPEC+ Resume Talks On Output Cut Extension After Impasse

Oil prices fell on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID -19 pandemic. Brent crude was down 15 cents, or 0,3%, at $48.10 a barrel by 0155 GMT, after gaining 1,8% on Wednesday. U.S … More BUSINESS| Oil Drops As OPEC+ Resume Talks On Output Cut Extension After Impasse