According to OPEC delegates and industry insiders, global oil demand growth will decelerate in 2023, as rising crude and fuel prices help push up inflation and act as a drag on the global economy.
US energy firms have added oil and gas rigs for a third week in a row following oil price increases, something that has not been seen since October 2018.
The major Saudi oil company, Aramco reported that its profit declined by 73% to 24.6 billion riyals in the second quarter of 2020 compared to 92.6 billion during the same period of the previous year , because of ...
The Kingdom's crude exports to China is expected to increase, reaching 1.5 million b/d during Q1 2019, up from one million b/d at the same period a year before.
Oil demand will remain strong without being affected by US-China trade tensions, said Khalid Al-Falih, Saudi Arabia’s Oil Minister.
The International Energy Agency (IEA) increased its growth estimate for global oil demand in 2017 to 1.6 million barrels per day (b/d) from 1.5 million b/d.
