Tag: Saudi Arabia

Libya says OPEC must cut daily output

OPEC needs to reduce crude output by at least 500,000 barrels a day, Libya’s governor to the group said.  More »

China cuts Saudi oil imports amid Colombia shipment boost

China reduced oil imports from Saudi Arabia even as the world’s largest crude exporter cuts prices to lure Asian customers amid intensifying competition from Colombia to Oman.  More »

Halliburton execs point to U.S. shale as profits leap 70 percent

U.S. shale plays have become laboratories for experiments with more production stages, more sand and, in West Texas, a lot more horizontal rigs – a development Halliburton executives say has required an unprecedented level of oil-field service intensity.  More »

Oil tankers to China jump to nine-month high amid crude rout

The number of supertankers sailing toward China’s ports surged to a nine-month high amid speculation an oil-price slump is encouraging the world’s second-biggest crude importer to accelerate purchases.  More »

WTI rebound above $80 holds as Goldman Sachs sees no oil glut

West Texas Intermediate is heading for its biggest one-day gain in a month.  More »

End to oil collapse in sight for BofA, BNP Paribas

Some of the world’s biggest banks say the collapse in oil is just about over.  More »

Oil demand growth this year seen weakest since 2009

Oil demand will expand at the slowest pace since 2009 this year as global economic growth weakens.  More »

Brent crude at a nearly 4-year low

West Texas intermediate crude dropped 8 cents to $85.74 a barrel on the New York Mercantile Exchange.  More »

Iraq follows Saudi price Cuts as Brent oil falls with WTI

Iraq will sell its Basrah Light crude to Asia at the biggest discount since January 2009.  More »

Iran matches Saudi oil discounts in bear market for crude

Iran will sell its oil to Asia in November at the biggest discount in almost six years, matching cuts by Saudi Arabia as global crude benchmarks slide deeper into a bear market.  More »

Oil bulls keep faith Saudi supply cuts will revive price

Ignore the talk of an OPEC price war, say crude market bulls. Oil’s next move was spelled out inSaudi Arabia’s own words.  More »

Tumbling oil prices punish hedge funds betting on gains

Hedge funds increased bets on rising oil prices just before crude futures tumbled to a 17-month low on signs that global supply is outstripping demand.  More »
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