Saudi Arabia’s oil export value surged 37.4% in March to a 3.5-year high of $24.7B, even as volumes hit record lows, as $100+ oil and Yanbu rerouting offset Hormuz disruption.
FILE – Storage tanks are seen at the North Jeddah bulk plant, an Aramco oil facility, in Jeddah, Saudi Arabia, on March 21, 2021. (AP Photo/Amr Nabil, File) Saudi Arabia... Saudi oil officials said ...
Saudi Arabia had prepared and planned for the worst-case scenario for decades. So within hours of the first US and Israeli strikes on Iran which resulted in the effective closure of the crucial Strait ...
May 1 (Reuters) - Saudi Energy Minister Prince Abdulaziz bin Salman now has an OPEC challenge to deal with on top of the largest ever disruption to global oil supplies. The Iran war has not only ...
Saudi Arabia has long been seen as the world’s “swing producer,” but analysts argue its true spare production capacity may be far lower than official claims suggest. ast attacks—such as the 2019 ...
Two critically important oil pipelines that bypass the strategically vital Strait of Hormuz have been thrust into the global spotlight as the Iran war drags on. Saudi Arabia’s East-West pipeline and ...
(Corrects source of response to UAE Ministry of Foreign Affairs, not UAE Media Office, in paragraph 17) By Samia Nakhoul DUBAI, April 29 (Reuters) - The United Arab Emirates' decision to quit OPEC and ...
Saudi oil officials said prices could soar past $180 a barrel if severe supply disruptions from the war in Iran last past April – potentially hammering foreign economies and the US as gasoline costs ...
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