Tag Archives: SAUDI

Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Monday, “OPEC+ is flexible enough to change decisions whenever required.” Last week, Saudi Arabian Energy Minister said the current OPEC+ deal on oil output would be locked in until the end of the year, adding the oil group can’t increase …

Mohammed Hashad, Head of Research and Development at Noor Capital and member of the American Association of Technical Analysts, commented on the most important developments in the financial markets during the past trading week, and shed light, in an interview on Dubai TV, on the expectations of US inflation data, …

Oil prices rose on Thursday for the fourth consecutive day as inventories of crude, heating oil and jet fuel grew tighter in the United States as a winter storm swept the country and travel was set to pick up for the holiday season. And by 0422 GMT, Brent crude futures …

Oil prices were little changed on Wednesday, as concerns about rising COVID-19 cases in China, the world’s largest oil importer, were offset by a larger-than-expected draw in US crude inventories. Brent crude futures rose seven cents, or 0.1 percent, to $80.06 a barrel by 0404 GMT, while US West Texas …

The United States has become a global exporter of crude oil over the past few years, but its exports have never exceeded its imports since World War II. This may change next year. US crude oil sales to other countries are now at a record 3.4 million bpd, with exports …

Oil prices rose slightly on Wednesday, after data showing a larger-than-expected decline in US crude inventories last week offset fears that China’s fuel demand will decline amid tightening COVID-19 restrictions. Brent crude futures rose 27 cents, or 0.3 percent, to $88.63 a barrel at 0719 GMT, while West Texas Intermediate …

Oil prices were little changed on Tuesday after fears of a global recession and concern that rising coronavirus infections in China would dampen demand from the world’s largest crude oil importer were offset by a falling US dollar. Brent crude futures rose 30 cents, or 0.3 percent, to $87.75 by …

On Monday, oil prices recovered from earlier losses after Saudi Arabia had denied news alleging that it was discussing an increase in oil output with OPEC and allies. Brent crude futures for January settled at $87.45, shedding 17 cents. WTI crude futures for December settled at $79.73 per barrel, falling …

The US central bank decided a jumbo 75-basis points rate hike, and the accompanying statement suggested policymakers would soon slow the pace of quantitative tightening. US Dollar Biggest Winner From Fed’s DecisionThe US dollar finished Wednesday higher across the board following a volatile American session. The US Federal Reserve was …

The International Energy Forum said on Monday, citing data from the Joint Organizations Data Initiative (JODI), that Saudi crude oil exports rose for the second month in a row to their highest level in more than two years. Saudi exports in July rose 2.5 percent to 7.38 million barrels per …