Tag: cut
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Saudi Aramco plans to cut oil sales prices to Asia in June (survey)
Saudi Aramco is heading to reduce the official selling prices for Arab crude destined for Asia, during next June, in light of fears of a global economic recession that may affect demand. A survey revealed that the Saudi oil giant, the largest oil exporter in the world, may reduce the price of its main Arab…
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Shell shocks climate activists and backs off plans to cut oil production until 2030
Shell, one of the world’s largest oil and gas companies, has abruptly and disappointingly backed down from plans to cut oil production, to the disappointment of emissions reduction plans and environmental and climate activists. And the Anglo-Dutch company announced that it is entering a state of review of its current plan to cut oil production…
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China ramps up purchases of Russian oil, fearing “cut” threats
China has intensified orders to buy Russian oil over the past weeks, amid fears that Moscow will cut production. In response to Western sanctions, which force it to make cuts that greatly harm its revenues. And Chinese refineries took advantage of the attractive discounts offered by Russia, and intensified purchases through import orders in large…