World Oil (Bloomberg) — The U.S. has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation. The world’s largest oil exporter insists the decision was about economics, not politics. The move marks a significant moment in the more
Oil Price OPEC+ heavyweights Saudi Arabia and Russia, with their +11 million bpd quotas, are looking at $100 oil as a fair price good for all, anonymous Reuters sources familiar with both Russian and Saudi Arabian government thinking said. Russia and Saudi Arabia, who together make up more than half of OPEC+’s total quota, are widely considered the leaders of
World Oil (Bloomberg) — Saudi Arabia’s oil exports reached $31 billion in June, the highest in at least six years, driven by a rally in prices and rising production. Monthly crude exports topped more than $1 billion a day and jumped 94% year-on-year, the kingdom’s statistics office said on Wednesday. Second-quarter oil exports were more than $91 billion, or
Yahoo NEW DELHI – Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the effects of Western sanctions. Russia has been hit by a slew of sanctions from the United States and its allies
World Oil (Bloomberg) — French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can. The UAE is “at maximum” output and neighboring Saudi Arabia can promptly add only about 150,000 barrels a day, Macron said, relaying a conversation with Sheikh
World Oil (Bloomberg) — OPEC+ agreed to open its oil taps faster in the summer months, a gesture of reconciliation to the U.S. that nevertheless keeps Russia at the heart of the cartel. The White House welcomed the deal, which came after months of diplomatic pressure on Saudi Arabia to mitigate the surge in energy prices that’s battered the economy
World Oil (Bloomberg) — Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production. The value of crude exports, now almost $1 billion a day, increased by 123% year on year, the kingdom’s statistics office said. Saudi Arabia’s crude production rose to 10.3 million
Reuters DUBAI – A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected concern about U.S. influence on the figures, sources close to the matter said, adding to strain on ties between Riyadh and Washington. The Organization of the Petroleum Exporting Countries and allies including Russia, a group referred to as
Nasdaq March 22 – Saudi Arabia’s cabinet emphasised on Tuesday “the essential role” of the OPEC+ agreement in bringing balance and stability to oil markets, Saudi state news agency SPA reported. The statement, a little over a week before OPEC+ is scheduled to meet, indicates little chance the grouping will decide to raise oil output at a faster pace. Several
CNBC LONDON — A group of some of the world’s most powerful oil producers will hold a crucial meeting on Thursday to discuss reversing some of the output cuts it made last year. OPEC and its non-OPEC partners, an energy alliance sometimes referred to as OPEC+, will convene via videoconference in a bid to reach consensus over how to manage
Reuters Nov 18 – Saudi Arabia’s crude oil exports in September rose for a fifth month in a row to their highest since January, the Joint Organisation Data Initiative (JODI) said on Thursday. The kingdom’s crude oil exports rose to 6.516 million barrels per day (bpd) in September, up from 6.450 million bpd in August. Total exports including oil products
Reuters GEORGETOWN – Guyana has granted a unit of Saudi Arabian Oil Co, known as Aramco, a one-year contract to market the government’s share of the crude produced in the South American country, Vice President Bharrat Jagdeo told Reuters. The country in early September had awarded Aramco a contract to market a cargo scheduled for Sept. 21-22. Natural Resources Minister
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
