Russia shifted its oil exports to India and China last year as European Union nations sought to end their reliance on Russian energy supplies after Moscow sent troops into neighbouring Ukraine
oil export
Latest in oil export
exports and re-exports
Saudi exports jump 83 percent in May to reach $38.3 billion
Imports to the country also see an increase of 21.8 percent to SAR53.9 billion in May this year
Crude exporter
UAE starts shipping oil cargoes as Europe buyers avoid Russian crude
Prior to its war in Ukraine, Russia was Europe’s largest external supplier of crude, but many of the cargoes that once got delivered to the continent are instead being transported to Asia
crude oil future price
Oil on course to hit $240 by summer if Russia energy sanctions continue, says industry expert
This is the largest energy crisis in decades and the impact on the world’s most important commodity is going to be unprecedented, says Rystad Energy’s head of oil Bjørnar Tonhaugen
General Authority for Statistics
Saudi second-quarter exports jump on eased lockdown, oil rally
Total revenue was $63.6bn, up from $17bn a year earlier, according to the General Authority for Statistics
Crude vessels
Qatar ships first oil cargo to UAE since Gulf embargo ended
Qatar loaded about 700,000 barrels of oil onto the tanker Abu Dhabi-III
Crude price
Middle East stocks slide as US-China trade war escalates
China has threatened to impose additional tariffs on $75 billion of US goods including soybeans, automobiles and oil
global oil market
Saudis defending coveted Indian oil market with Reliance tie-up
Aramco’s plan to buy 20% of Reliance comes with an assurance to buy half a million barrels a day of the kingdom’s crude on a long-term basis
global economy
Oil holds gain as US rigs data gives respite from trade gloom
Oil posted its biggest loss of the year last week – including a 5.7% drop on Thursday
global oil market
Gulf countries strengthen oil coordination amid tensions: Kuwait
Jarallah’s comments come days after sabotage attacks against tankers in highly sensitive Gulf waters and the bombing of a Saudi pipeline
crude production
Oil jumps as OPEC signals continued cuts and US threatens Iran
Oil has rallied about 40% this year as supply cuts have outweighed concerns about slowing demand growth caused by trade tensions between the US and China
global oil market
Saudi, UAE see sufficient oil supplies, rising stocks
Producer nations discussed how to stabilise a volatile oil market amid rising US-Iran tensions in the Gulf
Dr Mohammed bin Hamad Al Rumhi
OPEC+ job isn’t done as oil inventory rising, says UAE’s Al Mazrouei
Oman’s oil minister, Mohammed Al Rumhi, said the producers will stick to their policy of limiting production
commercial vessels attack
Iran crisis set to dominate OPEC+ meeting in Jeddah
Oil prices, holding near $72 a barrel in London, could easily climb this summer as global supplies are strained by Trump’s crackdown on Iran and geopolitical tensions simmering elsewhere
crude output
Oil sets new high for 2019 as ‘non-committal’ Saudis sow doubt
Saudi Arabia and the UAE can boost their combined output by about 1.5 million barrels a day within a short period
diversify economy
Revealed: Impact of VAT in Saudi Arabia, UAE, one year on
2019 economic outlook: Weaker oil would put pressure on expenditure in countries with higher break-even prices
Global oil demand
Saudis ramp up oil exports to the US in response to Trump
Saudi oil shipments into the US reached a four-week average of one million barrels a day last week for the first time since late 2017