Tag: oil
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Saudi Aramco may raise oil selling prices to Asia in May (Survey)
Saudi Aramco intends to raise the official selling prices for Arab crude destined for Asia, during next May, after the decision of several OPEC + countries to voluntarily cut production. A Reuters survey, seen by the specialized energy platform, indicated that the new increase comes amid expectations of an increase in Chinese demand in the…
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Crude oil prices rise for the fourth session, recording the highest level since January – (Update)
Crude oil prices rose at the end of trading today, Tuesday, April 4 (2023), to continue to reap gains for the fourth consecutive session, supported by OPEC + moves aimed at stabilizing the markets. And 9 of the countries of the OPEC + coalition, led by Saudi Arabia, decided to make voluntary production cuts of…
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Russia’s budget records a deficit of $29 billion, with oil and gas revenues declining
During the first quarter of this year, Russia’s budget recorded a deficit of more than $29 billion, with oil and gas revenues declining. Data from the Ministry of Finance showed that Russia’s federal budget deficit, during the first quarter of 2023, amounted to about 2.4 trillion rubles ($29.52 billion). The data, seen by the specialized…
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Crude oil prices fell for the first time in 5 sessions… and Brent near $85 – (Update)
Crude oil prices witnessed a difference at the end of the day, Wednesday, April 5 (2023); US crude fell after 4 sessions of gains, pressured by fears of an economic recession that might limit demand, while Brent crude rose near $85 a barrel. Crude prices rose, supported by lower US oil inventories and OPEC’s announcement…
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Crude oil prices rise and record gains for the third week in a row – (Update)
Crude oil prices rose at the end of trading today, Thursday, April 6 (2023), recording a third consecutive weekly gain. Fears of a supply shortage in light of the production cuts targeted by the OPEC + alliance and the decline in US oil stocks overshadowed concerns about the decline in global economic growth. Baker Hughes…
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Associate Director of"faw": The Safer oil tanker crisis will be resolved by the restoration of Saudi-Iranian relations
It seems that the Safer oil tanker crisis will witness a breakthrough after Saudi Arabia and Iran reached a meeting point and agreed to resume diplomatic relations. The Assistant Director-General of the Food and Agriculture Organization of the United Nations (FAO), Regional Representative for the Near East and North Africa, Dr. Abdul Hakim Al-Waer, expected…
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Energy expert: Oil prices will continue in the range of 80 and 86 dollars for a long time
The sudden announcement of a number of OPEC+ countries to cut production led to a rise in oil prices by about 8%, as it jumped above $85, before witnessing a slight decline. Christoph Rohl, senior researcher at the Center for Global Energy Policy at Columbia University, said – in statements to the specialized energy platform…
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Crude oil prices are falling… and Brent is below $85
Crude oil prices fell, during today’s trading, Thursday, April 6 (2023), for the second consecutive session; US economic data raised concerns about a possible global recession and reduced demand. Prices are heading towards achieving weekly gains after OPEC + announced more production cuts and the decline in US oil stocks. Crude oil prices rose for…
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Saudi Aramco raises its official selling oil prices to Asia in May
Saudi Aramco announced the official prices for selling shipments of Arab Light crude to its customers in Asia, Europe and the United States, during the coming month of May (2023). The company decided to raise the official Saudi oil selling prices for Arab Light crude to Asia by 30 US cents to $2.80 per barrel,…
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Crude oil prices are marginally higher.. and Brent is above $85
Crude oil prices rose marginally during trading today, Wednesday, April 5 (2023), supported by expectations of a decline in US crude inventories, as well as the latest production cut targets set by the OPEC + alliance. The rise in prices for the fifth session in a row comes after the decision of 9 of the…
