SINGAPORE/BEIJING (Reuters) – China’s crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world’s top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. C... More »
CALGARY, Alberta (Reuters) – The president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame. “OPEC alone cannot be blamed for all the problems ... More »
SINGAPORE (Reuters) – Top oil exporter Saudi Arabia is expected to cut prices for all crude grades it sells to Asia in May to reflect weaker prices for its Middle East benchmark Dubai crude, trade sources said on Monday. The official selling price (OSP) for fl... More »
The oil spill from a stricken Iranian tanker Sanchi that sank on Sunday is seen in the East China Sea, on January 16, 2018 in this photo provided by Japan’s 10th Regional Coast Guard. 10th Regional Coast Guard Headquarters/Handout via REUTERS TOKYO (Reuters) –... More »
Kuwaiti Oil Minister Essam al-Marzouq said on Thursday he did not expect OPEC oil producers to discuss any deepening of their oil output reduction target at a meeting where extending the length of the deal is on the agenda. More »
Saudi Arabia’s Energy Minister Khalid al-Falih (L) and Russia’s Energy Minister Alexander Novak attend a joint briefing in Beijing, China May 15, 2017. REUTERS/Aly Song Saudi Arabia and Russia, the world’s two top oil producers, agreed on Monday to extend oil ... More »
Shaybah oilfield complex is seen at night in the Rub’ al-Khali desert, Saudi Arabia, November 14, 2007. REUTERS/ Ali Jarekji/File Photo Saudi Arabia’s crude exports to the United States in March will fall by around 300,000 barrels per day from February, in lin... More »
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen before a news conference at OPEC’s headquarters in Vienna, Austria December 10, 2016. REUTERS/Heinz-Peter Bader OPEC and non-OPEC countries have made a strong start to loweri... More »
A soldier patrols in front of the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 29, 2016. REUTERS/Heinz-Peter Bader A committee set up to monitor oil output cuts by OPEC and non-OPEC producers will me... More »
Qatar Energy Minister Mohammed Al-Sada said on Sunday that even with an increase in drilling rigs, the oil market is likely to reach a balance as producers implement agreed output cuts. More »
BASRA, Iraq Iraq’s oil exports from its southern ports rose to 3.2 million barrels per day (bpd) on average in July, up from 3.175 million bpd in June, as the OPEC nation increased crude production, Iraqi oil officials said. Output at the Luhais field, operate... More »
SINGAPORE Iran has set its June official selling prices (OSPs) for heavier crude grades it sells to Asia at the biggest discounts to Saudi and Iraqi oil since 2007-2008, raising the stakes in its fight to regain market share. This is third time Iran has change... More »
