Oil Down After Deep Saudi Cuts Spur Demand Concerns

London – – Oil prices fell on Monday, extending losses after the world’s top exporter Saudi Arabia slashed crude contracts prices for Asia over the weekend, reflecting well – supplied global markets and concerns over the outlook for demand. Brent crude futures for November fell 49 cents, or 0.67 to $72.12 per barrel by 1042 … More Oil Down After Deep Saudi Cuts Spur Demand Concerns

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Saudi Arabia Lowers Light Crude Prices To Asia; US, Europe Prices Steady

Paris / France – – Saudi Arabia lowered its light crude oil prices to Asian customers in October versus September, though left prices to northwestern Europe and the United States steady. Oil giant Saudi Aramco lowered the price differential of light crude for delivery to the Far East in October to a premium of $1.7 … More Saudi Arabia Lowers Light Crude Prices To Asia; US, Europe Prices Steady

Saudi Arabia’s June Oil Exports Rise 123% To Over $16 Bln

Paris/France – The value of Saudi Arabia’s oil exports in June increase 123% to 61.5 billion riyals ($16.4 billion) from a year earlier while non – oil exports rose by around 41%, official data showed on Tuesday. Overall exports increased by nearly 92% in June compared to a year earlier when international trade was curbed … More Saudi Arabia’s June Oil Exports Rise 123% To Over $16 Bln

OPEC+ Sees No Need To Meet U.S. Call For More Supply

London/UK OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise, four sources told Reuters. The price of international benchmark Brent crude has risen 35% this year towards $70, driven … More OPEC+ Sees No Need To Meet U.S. Call For More Supply