Oil prices are down nearly 5 per cent so far this year, amid increasing supply from other producers, especially the US
West Texas Intermediate was little changed above $80 a barrel after declining by almost 2 per cent on Tuesday
Oil prices have weakened this month on concerns about demand
West Texas Intermediate traded near $84 a barrel after closing almost 2 per cent lower on Tuesday following a volatile session
Crude is heading for a weekly gain as signs of a tightening supply outlook offset concerns over an economic slowdown
The country’s top trading partner during June was China with exports reaching SAR21bn riyals
The OPEC+ alliance will meet via video conference on August 3 to decide on future production policy
Saudi Arabia sends more than 60 per cent of its crude exports to Asia
Crude prices have surged to around $110 a barrel in the past year
Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month
Energy supplies are struggling to keep up with a robust economic recovery
Crude surged to the highest since 2014 last week
Crude has enjoyed a robust start to the new year, with prices soaring to the highest since 2014 last week
Brent futures have soared in the opening weeks of 2022, reflecting the underlying bullishness on display in the physical markets
Oil’s impressive first-half rally has lost momentum in July and August
A transaction would boost Aramco’s sales of crude to India
Oil prices have retreated 6 per cent this month as the contagious delta variant triggers renewed lockdowns in China and other key Asian consumers
Oil has run into stiff headwinds in July after rising in seven of the past eight months
If there is a deal on Sunday, it is unclear how quickly additional supplies can be delivered to the market
The US benchmark is on course for a fifth quarterly advance, which would be the best run since 2010
Some analysts estimate Iran could return to pre-sanctions production of almost 4 million barrels a day in as little as three months
Brent crude has gained over 30 per cent this year to top $68 a barrel
Oil accounts for 90 per cent of Kuwait’s revenue
More than 4 million barrels a day of US oil output is now offline
Futures in London rose 0.9 per cent after capping a third weekly gain
Futures in New York traded near $55 a barrel after jumping almost 5 per cent over the previous two sessions
The mutation comes as vaccines are being rolled out in several countries and as the US closes in on a stimulus plan
Prices will remain unchanged for the eighth consecutive month
Profit rose mainly due to the reversal of SAR690m of impairments associated with Clariant AG
SABIC suspended new capital spending earlier this year as it reported losses in the first and second quarters