Breaking News
- Saudi
Saudi Fund for Development inaugurated new infrastructure projects in Djibouti worth US$ 137 million
- Saudi
Resort, hotels and plots of land up for grabs in the awaited Jewels of Madina public auction
- Saudi
Australia-based Avass Group signs MoU with HRH Prince of Saudi Arabia to manufacture electric vehicles, lithium batteries
Oil
Indonesia conducts test flight using jet fuel mixed with palm oil
Indonesia conducted its first test flight using jet fuel partially from palm oil on Wednesday, a senior minister said, as the country plans to commercialise the fuel as it seeks creative ways to use the edible oil domestically. The plane flew
Read More
Oil slides 5% to lowest level since June on demand fears
Oil slid 5 percent to below $40 a barrel on Tuesday, its lowest since June, over concerns that a demand recovery could weaken as coronavirus infections flare up around the world. Coronavirus cases rose in 22 of the 50 US states, a Reuters
Read More
Kuwait and Saudi Arabia to restart Neutral Zone production
Kuwait and Saudi Arabia have resolved their dispute over the so-called Neutral Zone, which is shared by both countries, clearing the way for oil and gas production to resume in the region. Kuwaiti foreign minister Sheikh Ahmad Nasser
Read More
DME Oman crude up over 100% since production cuts implemented
Oman crude oil Benchmark trading on the Dubai Mercantile Exchange, DME, has doubled in price since the record cuts agreed by the OPEC+ group and
Read More
Saudi Arabia and Russia committed to achieving oil market stability
Saudi Arabia and Russia vowed in a joint statement on Wednesday their commitment to oil market stability. The statement was released following a
Read More
Oman oil prices continue to rise
The price of Omani oil continued its rise, with prices for delivery by next July reaching $31.49 USD on the Dubai Energy Market. A statement
Read MoreUAE to cut oil output by 100,000 bpd in June
The UAE will voluntarily cut its oil output by 100,000 barrels per day in June in a bid to back Saudi Arabia's efforts to rebalance the world oil market, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and
Read MoreSaudi Arabia delays May crude prices until after OPEC+ meeting
Saudi Aramco will delay the release of its crude official selling prices (OSP) for May until April 10 to wait for the outcome of a meeting between OPEC and its allies regarding possible output cuts, a senior Saudi source familiar with the matter
Read MoreSaudi Arabia just won control of the oil market
When Saudi Arabia, OPEC's de facto leader and most influential member, decided at its latest meeting in Vienna to break its recent strategic oil partnership with Russia and adopt a new policy to maximize production levels, oil
Read MoreAn oil price war is here to stay, analysts warn — even as prices tumble to nearly two-decade lows
An oil value war between Saudi Arabia and Russia will in all probability collect throughout the year, vitality examiners have told, forever until 2021 at the most punctual. Universal benchmark Brent unrefined exchanged at $26.01 Wednesday,
Read More