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Kuwait and Saudi Arabia to restart Neutral Zone production
Kuwait and Saudi Arabia have resolved their dispute over the so-called Neutral Zone, which is shared by both countries, clearing the way for oil and gas production to resume in the region. Kuwaiti foreign minister Sheikh Ahmad Nasser
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DME Oman crude up over 100% since production cuts implemented
Oman crude oil Benchmark trading on the Dubai Mercantile Exchange, DME, has doubled in price since the record cuts agreed by the OPEC+ group and other major producers were implemented in time for May loading schedules. DME said in a statement
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Saudi Arabia and Russia committed to achieving oil market stability
Saudi Arabia and Russia vowed in a joint statement on Wednesday their commitment to oil market stability. The statement was released following a phone call between Saudi Energy Minister Abdulaziz bin Salman and his Russian counterpart Alexander
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Oman oil prices continue to rise
The price of Omani oil continued its rise, with prices for delivery by next July reaching $31.49 USD on the Dubai Energy Market. A statement
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UAE to cut oil output by 100,000 bpd in June
The UAE will voluntarily cut its oil output by 100,000 barrels per day in June in a bid to back Saudi Arabia's efforts to rebalance the world oil
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Saudi Arabia delays May crude prices until after OPEC+ meeting
Saudi Aramco will delay the release of its crude official selling prices (OSP) for May until April 10 to wait for the outcome of a meeting between
Read MoreSaudi Arabia just won control of the oil market
When Saudi Arabia, OPEC's de facto leader and most influential member, decided at its latest meeting in Vienna to break its recent strategic oil partnership with Russia and adopt a new policy to maximize production levels, oil
Read MoreAn oil price war is here to stay, analysts warn — even as prices tumble to nearly two-decade lows
An oil value war between Saudi Arabia and Russia will in all probability collect throughout the year, vitality examiners have told, forever until 2021 at the most punctual. Universal benchmark Brent unrefined exchanged at $26.01 Wednesday,
Read MoreIndia plans to top up strategic tanks with cheap Saudi, UAE oil: Report
India plans to take advantage of low prices for oil from Saudi Arabia and the United Arab Emirates to top up its strategic petroleum reserves (SPR), two sources familiar with the matter. Global oil prices have fallen around 40% in March as the
Read MoreGlobal impact of the Saudi Arabia-Russia oil war
Oil has a frightful propensity for breaking coalitions, beginning wars and toppling systems. This week saw one progressively pivotal change in the valuing of oil and more then likely each of the three offensive consequences will happen. For
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