Saudi Arabia and other OPEC members have begun to turn down Chinese requests for oil as they keep crude in their storage facilities and refineries
Tag: Saudi Arabia
Saudi Arabia Looks to China as U.S. Imports Fall
Saudi Arabia’s crude exports to the United States have recently hit their lowest level since the beginning of the financial crisis due to increasing imports
Oil Prices Hit a 2015 High as Libyan Production Declines
On Tuesday (5 May), oil prices hit their highest level this year, which was possible due to the declining output in Libya and the disruptions
Saudi Arabia Curbs Oil Supply to Asian Customers
Saudi Arabia has decreased its oil exports to some of its Asian customers, mostly to South Korea and Japan since last month. The decision to
Why Oil Markets Should Not Be Overreacting to Yemen Bombing
Escalating violence in Yemen, a producer of only 0.2 percent of the world’s oil, has spurred unexpected rally across the markets with commodities and metals
Mounting Concerns in Oil Sector due to Yemen Bombing
Although Yemen is only a minor oil producer accounting for about 0.2 percent of the world’s oil production, recent bombing of the country by Saudi
Rosneft’s Boss Blames OPEC and the U.S. for Cheap Oil
The boss of the Russian state-run oil company, Rosneft, Igor Sechin, criticized OPEC’s decision not to cut production on the sidelines of the International Petroleum
Rosneft Will Not Resume Drilling in Kara Sea
Russian oil giant, Rosneft, has informed that it will not be able to resume drilling in the Kara Sea in 2015 due to the consequences
Saudi Arabia: New King, Old Oil Policy
Saudi Arabia’s new king Salman is expected to keep oil production unchanged in order to discourage competitors and defend market share. Despite the expectations of
Exxon’s New Canada Terminal Readies for U.S. Shipments
Exxon Mobil Corporation has opened a new joint-venture oil-by-rail terminal in Canada considered to be the largest in the country. The terminal will start shipping