OPEC | The Renaissance

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Saudi Arabia may raise June crude prices to Asia

May 2, 2019 Foreign 333

Top oil exporter, Saudi Arabia, is expected to raise June prices for all crude grades it sells to Asia to track stronger Middle East benchmarks, trade sources said on Thursday. Saudi Arabia, the largest producer…

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Oil prices rise on trade deal hopes, OPEC supply cuts

March 4, 2019 Economy 452

Oil prices rose on Monday, buoyed by OPEC output cuts and reports that the United States and China are inching closer to a deal on a tariff row that has slowed global economic growth. International…

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Iraq police fire in air as protesters try to storm Basra government building

July 15, 2018 Crime/Judiciary/Security 500

Iraqi Police fired in the air to disperse hundreds of protesters who tried to storm a government building in Basra and demonstrated near an oil field, police said, wounding 48 people in unrest over poor…

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Iranian oil minister call Trump’s order to OPEC insulting: state TV

July 7, 2018 Business 512

Iran’s Oil Minister on Saturday accused U.S. President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding that the oil market should not be influenced by political factors. “Mr…

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Brent oil races toward $80 amid strong demand

April 24, 2018 Americas 536

Brent crude oil rose for a sixth day on Tuesday to hit its highest since November 2014 at over 75 dollars per barrel. This development is buoyed by expectations that supplies will tighten just as…

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IMF reverses oil prices downward

April 20, 2018 Business 640

Hopes of the Organisation of Petroleum Exporting Countries (OPEC) ever witnessing an oil price of $100 per barrels has been dimmed by the latest forecast from the International Monetary Fund (IMF), which expects crude oil…

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Crude oil market fundamentals improving – Saudi Energy Minister

March 8, 2017 Asia 920

Saudi Energy Minister Khalid al-Falih said on Tuesday that oil market fundamentals were improving after an agreement struck with top oil producers to curb supply and end a two-year glut took effect. The kingdom led…