Saudi Crude Exports to Drop by 100,000 b/d in August

• Tuesday, 24th July 2018
• by Editorial Team

Saudi Arabian crude exports are expected to drop by roughly 100,000 barrels per day (b/d) in August as the country refrains from oversuppling the market, the kingdom’s OPEC governor stated on July 19, according ...

Saudi Arabia Looks to Increase Asian Crude Exports

• Tuesday, 17th July 2018
• by Editorial Team

Saudi Arabia is looking to increase its oil exports to Asia, anonymous sources told Bloomberg. The Arab kingdom will export more of its Arab Extra Light crude to at least two buyers in Asia in August along with the re...

Oil Fields in Kuwait, Saudi Arabia Neutral Zone to Restart Production in 2019

• Thursday, 5th July 2018
• by Editorial Team

The Khafji and Hout oil fields in the neutral zone jointly operated by Kuwait and Saudi Arabia will resume production in 2019, Japan’s Toyo Engineering said, according to Pipeline Oil and Gas Magazine. The Japanese fi...

WTI Reaches $75 for First Time Since 2014

• Wednesday, 4th July 2018
• by Editorial Team

West Texas Intermediate (WTI) crude reached $75 a barrel on July 3, but quickly dropped to settle at just 0.3% higher, after the American Petroleum Institute (API) announced that US crude inventories fell by 4.51 mill...

South Korean KEPCO Shortlisted for Saudi Nuclear Tender

• Tuesday, 3rd July 2018
• by Editorial Team

State-run Korean Electric Power Corp (KEPCO) is among companies shortlisted to bid for a nuclear project in Saudi Arabia, Reuters reported. “We were informed by our Saudi counterpart, King Abdullah City for Atom...

Kuwait Raises Output by 85,000 bpd

• Monday, 2nd July 2018
• by Editorial Team

Kuwait started raising its oil output by 85,000 barrels per day (b/d) from July 1, in accordance with the recent agreement between OPEC and non-OPEC producers to increase production by 1 million b/d, according to Reut...

Saudi Arabia Plans to Pump 11 mb/d in July

• Wednesday, 27th June 2018
• by Sarah Samir

Saudi Arabia plans to pump 11 million barrels per day (mb/d) in July, a record high for the country, up from 10.8 mb/d in June, a source close to the situation told Reuters. OPEC agreed at its meeting in Vienna on Jun...

Oil Production Halts in Saudi-Kuwait Neutral Zone: Kuwait Oil Ministry

• Tuesday, 26th June 2018
• by Sarah Samir

Oil Production in the Saudi-Kuwait neutral zone has stopped until an agreement is reached between the two sides, Kuwaiti oil minsiter Bakeet al-Rashidi stated on June 26, Kuwait News Agency (KUNA) reported. Rashidi, s...

Saudi Aramco has 2M b/d in Spare Capacity: CEO

• Tuesday, 26th June 2018
• by Editorial Team

Saudi Aramco has 2 million barrels per day (b/d) in spare capacity, double the expected OPEC-sanctioned increase in production, CEO Amin Nasser said on June 25, Reuters reported. Aramco currently produces around 10 mi...

OPEC, Russia Agree to Raise Production

• Sunday, 24th June 2018
• by Editorial Team

OPEC has agreed with Russia and other non-OPEC producers to raise oil production from July, Reuters reported. Saudi Arabia stated that the increase will be “measurable” but did not give specific numbers or quotas. OPE...