Edition:
United Kingdom

Rania El Gamal

RPT-ANALYSIS-More shale, who cares? Saudi Arabia pushes for at least $70 oil

24 Mar 2019

DUBAI/LONDON, March 22 Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh's share of global crude markets might be further eroded.

More shale, who cares? Saudi Arabia pushes for at least $70 oil

22 Mar 2019

DUBAI/LONDON Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh's share of global crude markets might be further eroded.

OPEC scraps April meeting but keeps oil cuts in place

18 Mar 2019

BAKU Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela. | Video

Saudi signals OPEC may need to extend oil cuts until end-2019

17 Mar 2019

BAKU Saudi Arabia said on Sunday OPEC's job in rebalancing the oil market was far from done as global inventories were still rising despite harsh U.S. sanctions on Iran and Venezuela, signalling it may need to expand output cuts into the second half of 2019.

Saudi Aramco shifts strategy in China to boost oil sales

14 Mar 2019

DUBAI/SINGAPORE/BEIJING Rising Russian and U.S. competition has pushed Saudi Aramco to find new buyers for its oil in China, encouraging a shift towards independent refiners and newcomers to the business.

Iraq's SOMO drops partners, elbows its way into oil trading

13 Mar 2019

DUBAI/LONDON/SINGAPORE Iraq's state oil marketer SOMO has scrapped two joint ventures (JVs) and reduced contracts with some European customers to push its way into trading by selling more of its crude ad hoc, trading and industry sources said.

Iraq's SOMO drops partners, elbows its way into oil trading

13 Mar 2019

DUBAI/LONDON/SINGAPORE, March 13 Iraq's state oil marketer SOMO has scrapped two joint ventures (JVs) and reduced contracts with some European customers to push its way into trading by selling more of its crude ad hoc, trading and industry sources said.

Saudi Arabia to cut oil exports in April - Saudi official

11 Mar 2019

DUBAI Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output well below 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support oil prices.

Saudi Aramco's board to meet to approve SABIC bond plan: sources

11 Mar 2019

DUBAI/LONDON Saudi Aramco's board is set to meet this week in Saudi Arabia where it will approve a bond issuance plan that could help finance the potential acquisition of a stake in Saudi petrochemicals maker SABIC, industry sources said.

World News

Israel, Hamas trade blows as Gaza tensions simmer

Gaza militants fired rockets into southern Israel and Israeli aircraft carried out strikes in the Hamas-ruled territory overnight Tuesday, though the level of violence appeared to abate after Palestinians said a ceasefire had been reached.