Tag: Arabias
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A report lowers oil price expectations in 2023, despite Saudi Arabia’s decision
The US Energy Information Administration lowered its oil price forecast in 2023 slightly, and cut its estimates for crude production in the United States during the same year. The Short-Term Energy Outlook report for July 2023, issued today, Tuesday (July 11), predicted that the average price of West Texas Intermediate crude would reach $74.43 per…
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The OPEC + alliance proves the policy of reducing production… and sources reveal Saudi Arabia’s position
OPEC + agreed to stabilize the policy of reducing production without change in 2023, in addition to amending the base month through which oil quotas and compliance in the alliance are calculated starting next year, during the ministerial meeting held today, Sunday (June 4, 2023), after Several rounds throughout the day in order to reach…
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Saudi Arabia’s imports of Russian diesel recorded a record jump
Saudi Arabia’s imports of Russian diesel reached a record level in May (2023), benefiting from the discounts offered by Moscow, after the European Union banned Russian exports of seaborne oil products on February 5 of this year, as part of a series of Sanctions in response to the war in Ukraine, which aim to reduce…
