Saudi Aramco
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News Headlines
Saudi Arabia records higher oil sales prices
US, WASHINGTON (ORDO NEWS) — Saudi Arabia recorded a record increase in export prices: the cost of the Arab Light reference mix for consumers in Asia was immediately increased by $ 6.10 per barrel – a maximum of at least two decades. On average, state-owned Saudi Aramco raised July supply prices for all of its grades in the range of $ 5.60-7.3 per barrel, well above the expected increase of…
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News Headlines
Saudi Aramco took a break OPEC+ meeting will be held in the coming days
US, WASHINGTON (ORDO NEWS) — OPEC + countries will discuss the parameters of an agreement to reduce production in the coming days, the country’s energy minister Mohammed Arkab told reporters. “We achieved a production decline of 9.7 million barrels in two months,” the minister said, adding that countries positively assessed the results of the agreement. According to him, the largest contribution was made by Russia, Kuwait, Saudi Arabia and the…
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News Headlines
Aramco postpones official price announcement
US, WASHINGTON (ORDO NEWS) — Saudi Aramco, the national oil company of Saudi Arabia, has delayed the announcement of its monthly official selling price (OSP) until later this week. Cracks are deepening between Saudi and Russia ahead of an oil-producing country meeting to halt the sharp decline in crude oil prices. According to one person familiar with the matter, a new OSP announcement date for May has not been set,…
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News Headlines
Saudi Aramco postpones oil export price announcement
US, WASHINGTON (ORDO NEWS) — The state-owned company from Saudi Arabia, Saudi Aramco, again postponed the publication of official selling prices for oil until May, now until Sunday, Bloomberg reports citing sources. On Monday, Reuters, citing a source familiar with the situation, reported that the company postponed until April 10 the announcement of May official oil prices (official selling prices, OSP). The agency’s interlocutor specified that they will depend on…
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Money
From May 1, Saudi Aramco will reduce production to the level agreed upon by the OPEC + deal
US, WASHINGTON (ORDO NEWS) — From May 1, Saudi Aramco will reduce production to 8.5 million barrels per day (b / s), the company said. OPEC + countries at a meeting last Sunday agreed to reduce oil production and call on major producers outside the alliance to provide a proportionate and timely contribution to efforts aimed at stabilizing the oil market. So, in May-June, OPEC + countries will decrease oil…
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News Headlines
Saudi Aramco exported record number of tankers
US, WASHINGTON (ORDO NEWS) — Saudi Arabia immediately exported 15 tankers loaded with 18.8 million barrels of oil, said the national oil company Saudi Aramco. “Since the world needs economic stability, Aramco is committed to providing the world with energy,” the organization said in a statement. The company does not indicate which markets and when the cargo was directed. Saudi Arabia fulfills its promise to increase production to a maximum…
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News Headlines
Falling oil prices: Saudi Aramco may sell stake in division
US, WASHINGTON (ORDO NEWS) — Saudi Oil Corporation Saudi Aramco is considering the possibility of selling a stake in its division to raise capital amid falling oil prices. This was reported by Bloomberg agency, citing informed sources. It is noted that we are talking about a unit that ensures the operation of pipelines. According to the agency, the corporation has already held preliminary negotiations with potential consultants for the transaction,…
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News Headlines
Oil export from Saudi Arabia has not yet begun to grow
US, WASHINGTON (ORDO NEWS) — Saudi Arabia, the world‘s largest oil exporter, has not yet shown a significant increase in deliveries abroad, two industry sources that track fuel flows said. This may indicate a lack of demand, despite a sharp drop in prices during the struggle of large producers for market share. Saudi Arabia plans to export more than 10 million barrels per day since May after the termination of…