UAE remains committed to OPEC oil output cut: official

February 20, 2018 0

Suhail Al-Mazrouei, the United Arab Emirates (UAE) Minister of Energy and Industry and current OPEC president, said Saturday his country “will spare no effort to reach the state of market stability aspired by both producers and consumers,” UAE state news agency WAM reported.

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Saudi Arabia to restrain March oil exports

February 15, 2018 0

Saudi Arabia will restrain its oil exports in March despite lower domestic need for crude, as OPEC’s leader is pushing to totally eliminate the global oil glut and overcome worries about a new cycle of oil price weakness.

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Russia-China fund eyes Aramco IPO: Russian exec.

February 15, 2018 0

Russian banks and a Russian-Chinese investment fund are interested to invest in what could be the largest initial public offering in recent times, the Saudi Aramco’s floating of shares, a Russian senior executive said Wednesday.

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U.S.-led supply growth to overtake demand: IEA

February 14, 2018 0

Fast rising crude oil production in non-OPEC countries, led by the U.S., is likely to grow by more than demand in 2018, the International Energy Agency (IEA) forecast Tuesday in its monthly outlook report.

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Aramco’s IPO causing market frustration: media

January 31, 2018 0

The long-awaited, planned IPO of a potentially 5% stake in the world’s top oil producer Saudi Aramco is once again raising speculation within the industry, as company executives and financial advisers are reportedly frustrated with the lack of progress and transparency.

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Saudi Arabia to hold exports at 7 MMBPD in Q1

January 25, 2018 0

Saudi Arabia is planning to keep exports crude oil exports at around 7 million barrels per day (MMBPD) during the first quarter of the year, despite refinery shutdowns, Reuters reported on Wednesday citing unnamed sources.

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