Saudi Arabia on Sunday raised the ‘official selling price’, or OSP, of oil shipments to Asia in May but left the price for Europe unchanged, indicating the world’s largest crude exporter is unimpressed by India’s plan […]
Saudi Arabia‘s energy minister took a cautious view of any increase in oil production as members of the OPEC cartel met Thursday with allied non-member countries to decide production levels. Speaking ahead of the meeting, Abulaziz bin Salman […]
Amid tensions with Saudi Arabia over oil production cuts, India has asked its state refiners to review contracts they enter into for buying crude oil from the Middle East nation and negotiate more favourable terms, […]
US energy secretary Jennifer Granholm spoke with Prince Abdulaziz ahead of today’s meeting and emphasised the importance of ensuring “affordable” energy for consumers. Brent crude prices have remained above $60/bl since early February. Rolling over […]
The U.S. called Saudi Arabia on the eve of an OPEC+ meeting to highlight the importance of “affordable energy,” adding another element of uncertainty into the group’s decision on production cuts. The cartel is heading […]
HE Mohammad Sanusi Barkindo, OPEC Secretary General, opened the meeting by recognizing the historic milestone reached by the JTC Members and thanked them for their tireless efforts and unwavering commitment to the objectives of the […]
Energy News Beat Publishers Note: The new China – Iran oil deal will also impact supply outside the OPEC and OPEC + quotas. As OPEC and its allies prepare for another decision on oil output, […]
Russia would support broadly stable oil output by OPEC+ group of leading global oil producers in May, while seeking a relatively small output hike for itself to meet the rising seasonal demand, a source familiar […]
Any sharp oil sell-off, like the one this week, always has a clutch of plausible explanations and a sense that some sure-bet trade has unwound in a rout. And that’s almost certainly true. But there’s […]
Oil topped $66 a barrel as traders assessed prospects for further recovery from the pandemic and the outlook for rising global demand as the OPEC+ alliance presses on with output curbs to drain inventories. West […]
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